A merchant account enables a business to accept payments through the credit card. For the customers this is a convenient method to pay for what they have bought. And since it works on the principle of “Buy Now, Pay Later”, credit cards are here to stay. Therefore, if your business does not have the facility to accept payments through credit cards then, most likely it will loose its customers to its competitors who have the facility.

In general, obtaining the merchant account would require a huge initial investment of above $600. But there is an alternative solution if you are the owner of a start – up business which does not have this kind of capital. You can obtain a “Cheap Merchant Account” as an alternative solution. These kinds of accounts require less initial investments and also low payment. “Cheap Merchant accounts” are the greatest boon to home based and small business owners and is also used by 1st time merchants for their online business.

With the “Cheap Merchant Account”, you have two options: one is pay a fixed rate fee at the end of the month when your site makes a sale or the second option is, to make a monthly payment that is based on the volume of business you do. However, the catch point is a higher transaction fee of about 6% to 15% which is higher than the normal accounts. Hence, these “cheap merchant accounts” are good only in the beginning when the volume of sales is low and later, when your business begins to make higher sales volume it is better to shift to the normal merchant account.

Being a low risk account, “Cheap Merchant Account” can be opened with far greater ease than all other accounts. You have to pay $50 for the set up fees. This saves you hundreds of dollars. Cheap merchant accounts save a lot of money for the small scale businesses by avoiding the need for paper work and other verifications. For big businessmen whose customers or clients are mostly foreign nationals, the multi – currency international merchant accounts are suited best. Due to the competition in the industry of merchant accounts, several cheap merchant accounts with attractive prices are introduced in to the market every day.

The ultimate and important step to obtain a cheap merchant account is to find a “Cheap Merchant Account Provider” (MAP). These sorts of accounts are not offered by banks. Extensive research has to done to find and choose a good cheap merchant account provider. The best place to begin your search is on the internet. Be extremely careful in choosing the provider. Two most important things to look for are: firstly, the provider should give your website good security to protect it from frauds and secondly, the provider should be reputable enough to keep the information about the credit cards of your clients safe. If you do not do enough research and choose the wrong provider then there are chances that your clients’ information will be sold out.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.