What benefits are there to using a credit card merchant account?

First and foremost, when you have a credit card merchant account and are able to accept credit/debit card payments, you no longer have to worry about inconveniencing people by making them use cash or a personal check. Many people nowadays don't carry a lot of cash on them, if any! And as you probably already know, there are risks associated with personal checks. Credit/debit card transactions are fast and efficient, and much more secure than personal checks. Second, you won't eliminate potential loyal customers by putting them off with your inability to accept credit/debit cards.

Should I use a credit card merchant account?

When you choose to use a credit card merchant account, you are ensuring that you will never have to tell a customer no when they hand you a debit/credit card to pay for their purchases. Did you know that almost seventy-five percent of people under the age of thirty use debit/credit cards? That's a huge increase from the mere 24.4 percent of people under the age of thirty that used debit/credit cards in 1995! When you think of how many potential customers may desire to pay for their purchases using a credit/debit card, you can't possibly want to risk losing any because you don't have a machine to process their transaction with.

How much does it cost to use a credit card merchant account?

Credit card merchant accounts are surprisingly cheap. You may have a few setup costs to intially take care of that, but once your account has been established and you have your equipment on hand and configured, you'll find that financially, it is smooth sailing from there on out! You'll be charged a flat rate per credit card transaction, but this rate is rarely over one and a half percent, and is even cheaper if you stick to traditional swiped credit card entries, rather than keyed entries.

What features do I get with my credit card merchant account?

The best feature is the convenience you're offering your customers. This is especially true in the case of companies who do their business online. Online customers do not want to be hassled with having to mail a check or money order, or risk sending cash. Instead, they prefer to pull out their credit card and take care of their purchase right then and there. And when you accept credit cards, you're choosing to use the most secure method of a transaction available. With a credit card, you can verify the name and address, compare signatures, and of course, have a clear and concise paper trail, both for you and your customer.

How can I process transactions with a credit card merchant account?

When you have a credit card merchant account, you'll be given a piece of equipment that processes your point of sale purchases. When it comes time to make the credit card transaction, simply swipe the card (or, in rare instances where the card does not work, or if you're processing a phone or online transaction, key in the card information as prompted), follow the prompts, and hand out the receipt that is printed off. Credit card processing machines make the transaction very quick and very efficient, which will satisfy both you and your customer.