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Merchant Account – Getting the Most Out Of Your Merchant Account

One of the most important things that you, as a small business owner can do for your business is establish a merchant account with a payments processing provider. Setting up an account will allow you to accept payments from your customers from a variety of different sources, including credit cards, debit cards and ACH payments. Today’s consumer appreciates having flexibility in how they pay for the goods and services that they use and are more likely to patronize a business that allows them to use the payment method of their preference. If you want to see your business grow, this is an important step to take.

Today’s uncertain economic times have led people to use alternative methods of payment for different goods and services that they purchase. A business with a merchant account has the opportunity to capitalize on those different payment methods and reach a wider range of consumer. Studies show that consumers that use credit cards to pay for their transactions typically spend more than they do when they are purchasing something using cash or a check. The knowledge that they can defer the payment makes them more amenable to spending a little extra, which benefits you, as a small business owner.

Businesses looking to establish a merchant account have many payment processors available to them. Some specialize in providing accounts to ecommerce or internet businesses, while others offer premium services for brick and mortar or face to face businesses. Most processors will provide some sort of online reporting portal to enable their merchants to access their account, in real time and see what payments have posted to their account. The wide variety of processors helps keep credit card rates competitive, which serves to your advantage as a small business owner. Shopping around and finding the best rate for the best bundle of services is a really important exercise in getting your business up and running with electronic payments.

Another important determination that you need to make is whether you want to accept more than just credit cards with your merchant account. Check acceptance, debit cards with a PIN number and even EBT are valuable services that you can have bundled into an electronic payments account. Most processors can advise you on what types of payment are most common for your business type and help get you pointed in the right direction, so that you can get rolling with electronic payments.

For more infomation please contact or call us at 800-403-8182.

Posted in credit card processing, Merchant Account, Payment Processing on Jan 01, 2010