Instant Merchant Account Benefits

Instant merchant accounts are the all-new, super-easy and -affordable way to open a merchant account. You can get approved for an account within minutes! A merchant account will give you the freedom to accept credit cards, debit cards, and checks at your location or even on your website. It’s a great way for business owners and entrepreneurs—even those just starting out—to get their idea off the ground quickly and affordably.

Accredited Buyers

You'll be ready for instant approval from the major card networks: Visa, MasterCard and American Express. This type of account is a good choice for small retailers or businesses, such as restaurants, stores, salons and any business that doesn’t require large amounts of card processing capability. Since this type of account will be using one payment method at a time, there’s no need to have multiple cards to generate multiple sales. You can offer customers one form of payment directly through your website or app , saving you money on secure transaction fees by avoiding the need to provide alternative methods of payment or conducting additional credit checks.

Backed by Networks

Instant merchant accounts are backed by the networks themselves, so you’ll be able to use the same services as the big box stores or even as a small business. This means you’ll be able to accept credit cards, debit cards and checks—everything your customers would expect from you. They will also get complete and accurate payment information, so you’ll know exactly what they spent at your business. The best part is that most instant merchant accounts will offer competitive transaction fees for these types of transactions.

Easier - Fast & Cheap Instant Approval Process

The approval process for an instant merchant account is faster than that of traditional individual merchant account processing . You’ll have instant access to the funds from your cards without having to wait for a lengthy due diligence process. You can also offer online billing, which is great for small businesses who want to accommodate card payments without having to invest in expensive hardware.

Are instant merchant accounts cheaper than traditional merchant accounts? They can be , if you are comparing them based on the monthly fee and transaction fees. This type of account has fewer bells and whistles, so there’s less overhead, making it more affordable. However, those additional services do come at a cost: If you are looking for features such as chargeback management or business intelligence tools, you may need to set aside more budget.

Benefits of Instant Merchant Accounts

Merchant account benefits include:

No long-term contract

No monthly minimums, telling you the amount of money you have available at all times. This means you can afford to take on more sales or even pay off your credit card debt. You won’t be stuck with a lump sum balance just to be able to add more customers. All your transactions will remain in the system until you decide to close the account, so there’s no need for other methods of payment – such as payroll cards or bank drafts – that could eat up valuable transaction time during a busy season.

Complete control over the terms of your agreement.

You’ll have complete control over your business’s accounts and transactions, so you can define the terms of your agreement, including fees. This is especially useful if you want to customize how you bill customers based on the amount they spend or who pays them, such as you or a client. You can also set up your business according to your own needs. There are no monthly minimums for most instant merchant accounts, so you won't be penalized for having too many sales.

Restricted liability for card issuers

Instant merchant accounts help businesses avoid paying interchange fees , which could cost several hundred dollars each month if that many transactions come through your cards. You’re also responsible for any damages incurred by the card issuer during a credit card chargeback, which can be up to $25. However, most merchant accounts cover this cost if you follow the rules of your agreement.

24/7 customer support

Get 24/7 customer support if you need it . If you have questions about how to get your account set up or need help with chargebacks or reviewing transactions, you don't have to wait around. You can access customer service easily through instant merchant account providers' websites or by phone. Either way , representatives are ready when you are to answer questions about your account and ensure that sales are successful for both parties. Representatives are also able to help you troubleshoot problems as they arise, so you'll always have access to assistance when you need it.

Accept credit, debit and checks on the same account.

With instant merchant accounts, you can accept a variety of payments on the same account , including credit cards and checks. This is great for small businesses that are just starting out or companies who want to offer their customers more options. However, if your business requires large amounts of processing to meet growing sales goals, consider opening multiple merchant accounts instead of relying on one payment option at a time – as this could make it harder for your business to meet demand.

Analytics tools .

You’ll be able to access analytics tools to analyze your sales and customer activity and decide which payment methods are more profitable. This is great for businesses that want to track their card sales trends, so they can understand which types of customers spend more and which ones are spending less. Knowing this information will help you optimize your marketing efforts to boost sales and continue growing your business.

Accessable 24/7

Instant merchant accounts require no minimum monthly fees, so you can open an account whenever you choose. You'll also have access to live customer service whenever you need it , from a live chat option on the website or via phone call . This is a big advantage when you have questions about setting up your account or processing transactions, as it may be faster and easier than calling or emailing a traditional merchant account provider.

How to Get an Instant Account

Purchasing the right instant merchant account for your business is simple if you know what you’re looking for:

Select a provider. With the help of our instant merchant resource guide and online reviews, select a provider that offers instant acceptance from all major credit card issuers , including Visa, MasterCard, American Express and Discover. You should also look at your local options and see if any banks offer their own cards.

Conclusion

An instant merchant account is a great way to accept all types of card payments, but it can be difficult to find the best match for your business, since each one offers different services.