Top 7 Reasons to Open a Merchant Account

Opening your very own merchant account offers awide variety of benefits. All of them contribute to your income and profits.

1. It's easy. Accepting credit card orders online is convenient for customers, and is the way they prefer to do business. Period.
    
2. It builds trust. Having a merchant account also gives customers a sense of confidence in you as a seller. Due to the fact that you are authorized to take creditcard payments, customers automatically trust that you are an honest business, and are more willing to place an order.
    
3. You get paid faster. Credit card transactions are deposited into your bank account within 24-48 hours – much faster than the time that it takes to receive checks in the mail and then wait for them to clear.
    
4. You save time. You'll have secure, real-time credit card processing that allows you to authorize, settle, refund, and manage credit card transactions online.
    
5. You save on bank fees. Stores that accept credit cards reduce or eliminate the volume of bad checks returned for "non-sufficient funds" (NSF) and the associated bank fees, penalties, and collections costs.
    
6. You make more money. As stated earlier, more customers will buy from you when you take credit cards – as many as 10 times more. But, they also make larger purchases. Data indicates that credit card purchases are, on average, about 20% larger than non-card purchases. By using a credit card, customers often make additional impulse, upgrade, or extra purchases that they might not otherwise have made.
    
7. You create a professional image. By accepting credit cards, your check-out process is more seamless, and appears to be processed directly on your website. You look legitimate, honest, and professional.
    

In summary, obtaining your own merchant account is, literally, money in the bank for you. Although you may hear some merchants complaining about fees they pay on card transactions – they actually are making much more money and many more sales because they take credit cards.

 

Note: Avoid Other 3rd Party Merchant Accounts There are 3rd party merchant account processors. They offer an account which you don’t own. The 3rd party owns the merchant account, and you simply process through them. PayPal is such an account … however, PayPal is more reputable, and charges a lower transaction fee. But other 3rd party merchant account processors may charge up to 10-15% for each transaction. This can cut very deeply into your profits. They may also transfer funds from purchases on a sporadic basis – perhaps monthly, or bi-weekly. Likewise, refunds can be difficult and slow. Aside from PayPal, we advise against other 3rd party processors.

Now it’s Easy to Get a Merchant Account

Some credit card service companies make it hard to qualify for a merchant account, and they charge a BIG set-up fee. But we recommend something better.

One of the world’s largest credit and debit card broker services is offering our customers a low-cost, low-fee, easy-to-obtain merchant account.

• 98% of applicants are authorized.

• Transaction fees are low, saving a third to half off competitors’ fees.

• There are no hidden or surprise extra charges.

• For international sales, exchange rates are calculated automatically.

You can start the application process after you enroll for your web store. A simple form is included in the memeber area, and it goes directly to a reputable merchant account broker. They will then follow-up directly with you.

 

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You Don’t Want a Merchant Account?

If, for any reason, you don’t want or can’t get a merchant account, your SimpleWebPro store is automatically set up to process payments through PayPal.

All you’ll need is a PayPal account – but your customer can pay with a regular credit or debit card. PayPal is fast and free to set up. However, the transaction fees will be much higher than your own merchant account, perhaps in the 3-5% range. Still, this is an excellent alternative to get your store up and running.