Accepting a Credit Card Merchant Account

Regardless if you currently have an online business or you are considering launching a website to sell products and/or services, you will be faced with numerous decisions.  Each decision is vital, playing a key role in the success or failure of your business.  One of the most important decisions you will make is to accept a credit card merchant account.

Regardless if you currently have an online business or you are considering launching a website to sell products and/or services, you will be faced with numerous decisions.  Each decision is vital, playing a key role in the success or failure of your business.  One of the most important decisions you will make is to accept a credit card merchant account.

Although this type of account might seem important, the truth is that it is more than important.  Think of it this way – every day, millions of people around the world spend time online buying merchandise and paying for services.  You can be 100% positive that to these people, having the ability to pay for the purchases directly from the website is a huge deal.  When you accept a credit card with a merchant account, this is what you offer.

Let us say that your online business were in direct competition with another site.  You both sell the same thing and prices are similar.  However, your website only provides new and existing customers the opportunity to make a payment using Xoom, PayPal, money order, or cashier’s check.  On the other hand, your competition can accept a credit card with merchant account so customers simply go through a quick checkout process, make the payment via credit card, and the item is shipped or downloaded.

Studies show that two major challenges exist in having an online business.  The first is drawing traffic to the site and the second is keeping the people there.  By providing customers with everything needed to make and complete a sale, it means they stay inside your website longer.  When this happens, there is a good chance they are going to scour the site to see what all you offer, which means an increase in sales and profit.

Now, the key to success if you decide to accept a credit card with a merchant account is by offering customers with the ability to pay with more than one type of card.  In other words, instead of limiting payment with a MasterCard or Visa, the merchant account should be one that can accept payments through these two card types, as well as Diner’s Club, Discovery, and American Express.  The more options you provide the faster your customer base will grow and the stronger it will be.

As a business owner, you need to accept a credit card with merchant account but it has to be the right account.  You will need to spend some time looking at all the different companies that issue cards and then look at account fees, interest rate, standard and advanced services, type of customer and technical support, account protection, and much more.  With the right decision, you will develop a reputable online business that will continue to grow.

Remember, of the millions of people shopping online every day, they want convenience and affordability.  Therefore, if you provide an excellent product and/or service, you keep your prices affordable, offer excellent guarantees, and accept a credit card with merchant service, chances are good that your company is going to do amazingly well.