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OFFSHORE MERCHANT ACCOUNT BASICS

A merchant account is a special type of account that needs to be acquired from a bank or financial institution so that you can accept credit cards payments from your consumers. A merchant account can be obtained from a merchant account provider. The significance of merchant accounts is that it allows consumers to make payments using different payment modes such as electronic checks, debit cards and credit cards.

Merchant accounts increase the business sales volumes as payments made by using credit cards can be accepted which allow consumers to make instant purchases. In addition to this, merchants will get their payments instantaneously. The whole process of making and receiving payments is fast and simple. Also, time taken to accept such payment is faster than traditional payment methods. Credit cards can be easily accepted with the help of credit card swipe machines.

When you offer multiple payment options to or consumers, it adds to the convenience while shopping. The direct and obvious result of accepting credit card payments is the increase in sales volume. This in turn will result in the growth of your business. These days, consumers prefer making payments by using credit cards as it is simple and convenient. Moreover, the need to carry large amount of money gets eliminated. The option of making payments using credit cards is a must for e-commerce businesses. For consumers, making purchases using their credit cards will help in keeping track of their expenditure. Therefore, having merchant accounts for the purpose of accepting credit card payments makes business sense.

Once you make the decision of acquiring a merchant account, the primary thing you need to do is to shortlist a few merchant account providers. Once this is done, a background check of the merchant account provider has to be made in order to check the provider’s credentials. It is essential for you to ensure that the merchant account provider is trustworthy, reliable, and provides security for all the transactions. For online businesses, internet or online merchant account is the best available option for processing payments made by credit cards. The client or the consumer receives an e-mail that contains all the details about the transaction.

The credit card providers have various fees for the processing of credit cards. A few of the fees that are applicable include annual fee, discount fee, application fee and statement fee. Different firms charge various fees; hence, it is essential to do some amount of research before acquiring a merchant account.

For instance, “Merchant Accounts” is one among the larges merchant account processors in the U.S. the solutions offered by them for processing credit cards are considered to be the best and also very efficient. There are several offers provided by them for you to choose. In addition to this, they approve merchant account applications within 24 hours. Also, online applications are available instantly hence adding to the ease of applying for a merchant account. Moreover, cancellation fees will not be applicable if you want to delete your merchant account. 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.