Today, if you own a business then it’s a good probability that having a merchant account will greatly benefit your business. Merchant accounts are established everyday and join the millions of accounts already live. Plus there are a variety of other benefits of having a merchant account, continue reading for more details.
- The primary reason for having a merchant account is to enable your business to accept a variety of credit cards from your customers. All major card brands from Visa, MasterCard, Discover and American Express will now be available to your business. By being able to accept a wider variety of payments it’s likely you’ll see an increase of income.
- With e-commerce being a staple for many households merchants are ever more readily selling their wares online as well and having a merchant account is critical to this. Not only can customers reap the rewards of browsing your goods from the comfort of their home but the audience you’re able to reach grows exponentially when you sell goods online.
- Security is paramount in e-commerce and using your merchant account and website you can provide them that level of security. When a customer feels as though they can trust you it’s greatly increases their chance of returning to your site and purchasing again in the future which is great for your business.
- Merchant accounts allow you to have a greater level of tracking and monitoring of your financial transactions. Once you’ve signed up for a merchant account and have begun processing you’ll receive monthly statements which include all the transactions processed and money received. This helps you keep track of your finances month to month which becomes invaluable come tax time.
Applying for merchant accounts is a simple process, one that takes only moments to complete once the required information has been collected. To make the application process even easier, you’re able to apply for merchant accounts online. In most cases approval can take 1-10 days.
No matter the size or industry your business resides within there are numerous positive aspects of being able to accept a wider variety of payments. In addition to opening your business to new potential clients, you also provide a greater level of service and convenience to existing customers.
Moreover, paying with credit cards into today’s virtual, cashless society helps you ensure timely, guaranteed payment that can be transferred into your account with little to no effort on your part. You can also offer customers various incentives for paying with credit cards, including prepaid programs and special gift card offers. Many credit card companies will offer their own incentives, a powerful duo when combined with your product/service offers.
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