What Are Merchant Accounts?
Consider these scenarios: A consumer is making a purchase at a small shop in her town. The consumer hands the clerk her debit card upon which he informs her that he uses the mobile ATM system thus she has to pay ATM fees on top of having to withdraw more money than the cost of her purchase. The consumer frustratingly agrees to the process.
A small business owner runs a store with a merchant account to accept credit cards. However many customers leave without making a purchase over the business owners $10 minimum purchase requirement for card users. The business owner should search for low cost merchant services.
Merchant accounts are merchant bankcard accounts that provide a credit card processing infrastructure to businesses. When consumers use a merchant bankcard processing system the funds go through a gateway network then are deposited into an account. Merchant services are channeled by a processor and fees are charged to the business. Merchant account processing includes flat rate and per- transaction service fees plus possible hidden fees (Intuit). Merchant bankcard processing involves the merchant service provider (the middle man), payment gateways, bankcard processor, issuing bank, card association, and a merchant bank.
Consumers don’t hold stake in bankcard processing. Furthermore consumers don’t feel any of the pressures or risk associated with fees compiled from every swipe they make on merchant services POS system. The business assumes the stakes accompanied with lowest rate merchant services thus the search for low rate merchant accounts.
The need for cheap merchant services
Merchant account processing has made consumer purchases vastly convenient compared to cash transactions. Accepting Credit Cards through your merchant account means you have options for merchant credit card processing purchases that allow for expedient checkouts and the ease of mind that you can recover from damages if it’s lost or stolen. Card purchases are also free to the consumer. The costs of card transactions are paid by the business to the credit card processor.
Bankcard processing is the preferred way of purchasing for consumers and can increase sales for businesses (Brooks, 2013). The need for low rate merchant services becomes apparent when weighing in on the business requirement to accept credit cards for consumer convenience. Choosing the best low cost credit card processing service for the business increases sales and save on cost.
Best Practices for Low Rate Credit Card Processing Search
Evaluate and determine which low rate merchant services offer the best credit card processing price structure suitable for your business. Some merchant services providers offer merchant services for less money than others. However money isn’t the only criteria to be looked at when searching for low rate merchant services. You may also want to include customer service, best bankcard processing options, and overall value of the merchant services being provided.
Attempt to negotiate for low rate credit card processing fees. You may acquire merchant service for less than the asking price if the provider is willing to be the best bankcard processing provider for their clients. Remember to match the best merchant service that fits your business requirements.
Low Discount Rate Merchant accounts
One of the best merchant services providers is accredited for high approval ratings, paperless applications, no startup fees, monthly payment agreements, and choice of point of sale models. Multi-year contracts may not have value for its cost as a business is locked into a service that can’t change if proven to be undesirable after purchase. Monthly agreements allow a business to break with their contractor in search for merchant services for less than what was provided. www.bettercreditcardprocessing.net is a website which offers merchant services for less and has the reputation as the leader in the merchant credit card processing industry, teaming up with First Data Merchant Services and Ignite Payments.
Providers such as Ignite Payments, offers low rate merchant accounts offers high quality customer service, a variety of POS options, and multiple e-commerce solutions. They are accredited as the best merchant services provider due to its 24/7 live person availability and low discount rate merchant accounts for internet based businesses. They are partnered with a variety of merchant gateway companies for online services.
Conclusion
Consumers are more likely to use a credit or debit card transactions over cash. Merchant account fees quickly pile up and eat away at profits. Businesses are under pressure to search for the best merchant services and merchant credit card processing service to avoid high cost and losing sales. Call 888-224-9571 today and let Ignite Payments and BetterCreditCardProcessing help get your merchant account approved today!
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