TIPS AND ADVICE FOR OFFSHORE SMALL BUSINESS
MERCHANT ACCOUNT HOLDERS
A Merchant Account is needed when you
want to accept credit card payments from
your customers. A merchant account that
is designed for small or start up
businesses and individuals is called as
“Small Business Merchant Account”.
Conventionally, small businesses with
low trading volumes find it difficult to
get a merchant account. However, with
the advent of the “Small Business
Merchant Account” even the small
businesses can accept credit card
payments. This also helps the small
businesses to grow faster and compete
with their bigger rivals.
The primary benefit that you will get
from the “Small Business Merchant
Account” is you will be able to process
credit card payments that are received
from your customers. This means that
your customers can now pay for the goods
bought or services received without cash
in hand.
The “Small Business Merchant Account”
provides your customers the convenience
of making payments with a debit card or
credit card. You can accept payments
from your customers through the internet
or the phone or in person, if you have a
Small Business Merchant Account. All
businesses must accept credit card
payments from their clients as soon as
possible, if they are not doing it
already.
A good “Small Business Merchant Account”
should accept credit cards like
MasterCard, Discover, American Express
and Visa and any other card that is
available. This will increase your
customer base and your sales volume,
there by resulting in higher profits for
your company.
Once a customer makes a credit card
payment you will receive the funds
within 2 or 3 business days. The money
will be credited to your business
account, directly. Money earned on any
day can be transferred to the checking
account of your business. This will
provide you with a good cash flow which
is an important issue with small
businesses. It will also help with debt
solutions for your business. You will
get a monthly statement after every
month which allows you to easily track
the sales turnover, deposits and cash
flow in your bank account.
The software and machine terminals for
credit cards can be leased or purchased.
Later, there are options available to
buy the terminal that you have rented or
leased.
With the “Small Business Merchant
Account” one can get opportunities for
future lending capital without any
applications or credit scores. Factoring
is also an option, but the businesses
participating in factoring, beware
because if you get caught then your
merchant account will be terminated. You
can also get advances on the receipts of
your credit cards every month after you
have done trading for one year. This
allows your business, access to quick
money which can be used for important
purposes.
But, the advances attract charges.
Therefore, you should use this option
only if it is absolutely necessary.
Factoring can work positively for your
business if you are doing it in a
disciplined manner. It will increase the
cash flow and flexibility of your
company. 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. |