Discount Merchant Account Availability


 Discount Merchant Account Availability

The world of computer technology is moving at an incredible speed, with the introduction of new innovations coming out daily. The recently released new computers and laptops are quieter and faster than ever- these advances have launched the world into a technological renaissance. With the internet pulsing through our veins, online shopping has taken over- whether you’re looking for the best headphones or wanting to buy a hoverboard for your kids to play on, you can now do so 24/7!

With this surge in technological progress comes one complication- a lack of needed funds. Without access to quality merchant account services and financing options, your business could be shut down before it even gets off the ground. Fortunately, there are a number of different financial solutions that can be used by small businesses. However, banks often have strict requirements for the types of products and services their customers can sell.

To get your business rolling, it’s essential that you find the right balance between traditional business banking and online merchant services. Up until recently, many banks would only offer traditional brick-and-mortar services to their clients. As a result, many entrepreneurs have had to go through the process of setting up a separate bank account just to be able to accept credit cards or debit cards as payment.

However, times are changing. As the consumer demands better offerings from their banks, more financial institutions are opening the door to an online-only business model. Offering secure and efficient service, these merchant account services offer an ideal solution for entrepreneurs looking to jump into a new avenue of business.

One of the largest benefits of using a merchant account is that it allows for both brick-and-mortar and online sales to be accepted in one location. Integrating different aspects of your business into one unified operation means that all operations can be centralized in one location. This makes it easy to monitor your shopping activity and provide more streamlined customer support through 24/7 access to your email account and online banking system required by most banks.

Another benefit of obtaining a merchant account is that it allows you to accept more than one payment method. With online transactions, some merchants prefer to offer only credit card payments in order to increase security while others like to offer debit card and even electronic check payments. Despite the different methods of accepting payment, there is a large discrepancy in the fees associated with each method. These differences make it impossible for some businesses to take both forms of payment without incurring hefty fees.

Aside from lower fees, a merchant account will also give your business access to many other advantages. Some professionals may want to focus on certain aspects of the business, using a merchant account will allow you to separate the different departments of your business. Eliminating downtime during a payment processing and authorization service, you can increase overall efficiency and decrease overhead costs.

A merchant account is also beneficial for businesses large enough to warrant an account manager or consultant. A dedicated consultant can be assigned by your bank to help you with your needs as a business owner. They will take time to understand what type of shopping experience you are trying to create and use their expertise in business banking to help guide you through the right steps.

However, there are still disadvantages associated with obtaining a merchant account. Most of these disadvantages have to do with the inherent dangers of dealing with a third-party company. If a hacker were to break into your business data, you could be forced to endure the expense of repairing and repaying any lost funds as well as faced with hefty fees for fraudulent transactions.

Fortunately, there are companies that offer secure merchant account services known as trusted merchant accounts. Trusted merchant accounts protect against data breaches, cover fraudulent transactions and will help your business avoid costly fines. By using trustworthy merchant accounts that meet strict industry standards, you can feel confident that your payment processing will be safe and secure throughout the course of your business history.

Overall, obtaining a merchant account is an essential part of business growth. By using trusted merchant accounts and following industry standards, you can confidently accept credit cards, debit cards and even electronic checks without having to worry about fraudulent accounts or data breaches. With a variety of options available for every type of business and precise assistance from experts in the field, it’s never been easier to set up a merchant account for your company.

Interested in finding out more about financial solutions for your business? For more information on the benefits of merchant services and other solutions, contact Merchant Account Solutions today at 877-637-4334, or drop us a note via our website to learn more about what we can do for you.

Author Bio:

Benjamin Krug is the founder of Merchant Account Solutions and a specialist in banks and security. He was inspired to start his company because of the lack of information available to small business owners regarding their financial needs and the ease with which a small startup could be ruined by poor credit or inadequate funding options. He offers a full suite of services to help businesses set up their accounts, accept electronic payments and store and protect large amounts of sensitive data.

Editor’s note: This post was originally published in October 2016, and has been updated for freshness, clarity, and conciseness.

Published by NCR on Thu, 01 Jan 2019 13:00:00 +0000

NCR is a leading media brand serving those in the military community with original content that inspires recovery, resilience and community. NCR gives servicemembers something they need to return to school, seek employment, heal and direct donations toward those who have full-time care needs for children or family members with special needs.

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