3rd December 2009
When businesses decide to open credit card merchant accounts they must
be careful to make the right choices. There are many options out there
• Phone/Mail Order
• High Volume Processing
• Petroleum/Pay At The Pump
Once your business has decided which account is right for it then the
business can move onto the next step of personalizing the account to
provide specific options for their clientele. Setting up a merchant
account can upgrade a marginally successful company to an elite
Many businesses become fearful of setting up a merchant account because
of the price. The validity of this fear becomes muddied when you
actually look at the numbers. At first glance it seems as though the
price is extremely high to get set up however looking deeper a company
will find that the benefits far outweigh any issues with utilizing
credit card processing. Credit card merchant accounts can add a
plethora of new customers seemingly overnight.
The old days of accepting just cash and checks now appear to be over.
Do not fall behind the advanced business curve by not setting up your
merchant account today. Just having the ability to accept credit cards
can set your business apart from the competition by miles. Look in
your wallet…how much cash do you have? How many credit and debit cards
do you have? Just from those simple questions it seems silly for your
business to still stand by the old “Cash Only” policy.
With so many choices for credit card merchant accounts it is impossible
not to find one that is perfect for your business. In any successful
business the same principles apply: know your business, know your
customers, and always provide appropriate options to succeed.
Accepting plastic cards is the next step towards growing your business
into a successful venture.
Some of the things that all businesses should look for when setting up
merchant accounts are checking out the bank that will issue the
merchant credit card account, what clearinghouse is the bank using,
what hardware/software gateways are needed, a merchant credit card
broker (not necessary but helpful) and maybe most importantly, the
The options for credit card merchant accounts are plentiful. These
options include discount rate, minimum monthly processing fee,
transaction fee application fee, set-up fees, gateway
hardware/software, supplies, internet gateway set-up and monthly
processing fee. These will vary depending on where your business
decides to set up its account. Each of these factors is very important
and it is vital to understand each one thoroughly before proceeding.
Be sure to look at the cost of the set up and make sure that your
business’ budget can afford it. When selecting which account to
utilize be sure to ask questions and do not be afraid to ask about
something that you unfamiliar with. For instance the business needs to
make sure that they choose a gateway that is compatible with their
Credit card merchant accounts and PDQ machines are one of the greatest ways to expand your business and allow it to stay advanced business curve.