FOUR SALIENT
Features OF
AN OFFSHORE
MERCHANT ACCOUNT
While choosing merchant accounts, you
need to make sure that some important
aspects of the account are dealt with
before opting for the account. The
salient aspects that must be taken into
consideration while you are comparing
the prospective merchant account
providers are as follows:
The first vital feature is Interchange
Pricing that was extended to only large
business establishments. But this is not
the case these days and it has become a
commonly available feature of the
merchant accounts. This involves
applying mark-up prices to processing
costs for all transactions. It is also
known as interchange plus or cost plus.
The advantages of Interchange pricing
are its cost effectiveness and
transparency when it is compared to
tiered pricing that is popular in
merchant accounts. If start up companies
and small establishments face
difficulties in obtaining interchange
pricing, the best thing to do is
comparing the quotes of different
account providers. This way, the
merchant can find the best deal in terms
of rates and fee.
Zero cancellation fees are another
feature that is not difficult to find
these days. Due to competition,
providers of merchant account are keen
in improving their businesses and so are
keen in offering some advantages to
their customers by announcing that in
the event of cancelling the credit card
they will not burden the customer with
any fee.
A well-informed and committed
representative is any customer’s wish
and all busy customers want quick
assistance without waiting for their
turn. All merchant account providers
should extend this facility to customers
so that it becomes easy for customers to
obtain help inspite of their busy
schedules.
Low rates and fees are an attractive
feature when merchants hunt for cost
effective merchant account providers.
Though rates and fees are not the only
deciding factor, it is good to enjoy
reduced fees. When rates are high,
merchants can check out what other
benefits compensate it such as gateways
and credit card machines.
Prompt and efficient customer service is
another feature that needs consideration
while choosing merchant accounts. It
must be easy to reach the customer care
executives over phone. It is also
advantageous to have local
representatives who can be paid a visit
for any concerns.
Though the above features are indicative
of a good merchant account, it is really
not possible to weigh a merchant account
based upon these features alone. Anyway,
making sure that these features are
present will provide minimal assurance
on the quality of the merchant account.
There may be other features which would
be of importance for different
merchants. So, it is essential to
collect sufficient information
pertaining to other features as well
before making a decision. The internet
is a massive source of information and
by spending just a few minutes to about
an hour can fetch enough information
that will help in the process of
deciding the best merchant account. The
merchant account business is ever
expanding and it is quite easy to zero
in on the suitable merchant account that
can address all your needs.
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. |