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Just What Are Your Options for Establishing Credit Cards Merchant Account?

June 10, 2011 | Author: | Posted in Ecommerce, Finance, Internet Marketing

Article by George Mitchell Sr.

Whether your business is new or moving to the next level by accepting payment by credit, you’ll have several options for establishing a credit card merchant account. In this article, we present options for setting up a merchant accoun in terms of account type and what entities offer accounts. We begin with the former.

1. E-com

An E-commerce credit card merchant account puts you in contact with huge numbers of people who shop the net, the majority of whom won’t get access to your physical locations. Along with facilitating charge transactions that otherwise wouldn’t occur, an e-commerce account may also give your company a brand new focus: investing in selling online rather than opening more physical locations, a decision that could help you save big money in terms of payroll, as well as on expenses for example building insurance, workers comp insurance, utilities, and sick days.

2. Mailbox or telephone orders (MOTO)

Accounts that allow your customers to make charge payments by mail and telephone help to broaden your payment options. Although people like the convenience and security of paying online, others, especially those who’ve long made payments in more conventional ways, prefer mail and phone payments.

3. Accept wireless payments

Wireless accounts are ideal for companies that accept charge payments but not always at their usual sales locations. Companies that use this arrangement commonly need it for goods that are paid for on delivery; goods and services that are paid for at non permanent locations, such as at kiosks and trade show booths; and services that are paid for in settings that do not have a storefront, such as attorney offices and doctor offices.

4. Classic credit services

Traditional credit card accounts through a merchant service provider involve utilizing a stationary card terminal in a stationary point of sale and frequently several. This kind of arrangement is necessary for companies that sell a higher amount of products or service packages inside a storefront setting, for example retail shops and spas.

What kinds of organizations offer accounts?

There are five types of entities that offer some or all the account types mentioned above: Independent Sales Organizations (ISOs), that are organizations that represent banks; charge card associations, for example MasterCard, Visa, Discover and American Express; credit card brokers, which operate in an almost identical fashion to ISOs; international merchant companies, which are often risky due to their foreign regulation standards; and banks. For the greatest range of options, many businesses use ISOs. To learn more about which kind of service matches your needs, consult with a business advisor about your business customer base and current sales situation.

About the Author

While conducting research for this article, I learned about e-checks and merchant account providers at

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