Competing with larger businesses with greater resources is one of the biggest challenges often faced by small businesses. And, accepting credit cards is one of the proven and tested methods to level the competition and increase the sales. According to Federal Reserve, around 70-80 percent of consumers have at least one credit card. So, for small business which doesn’t plan to remain small for a long time, accepting credit card payments is a vital tool to grow. Since every small and big business leave no stone unturned to offer the superior customer service expanding their payment option to include the debit and credit card processing is a no brainer.
Apart from this, accepting credit cards payments not only provides an ease for consumers but is also beneficial for merchants. Credit card transactions save a lot of time and foster shorter transactions. Shorter transaction times means as a merchant you can serve more customers more efficiently. And, at the end of the day, you can send all your transactions in one batch to your credit card processor for electronic settlement. Credit card processing with a reputable merchant services provider is a very secure operation. Merchants who accept credit cards also usually see an increase in their sales and profit. The reason behind this is simple – credit card shoppers tend to spend more than shoppers who pay with cash or a check.
On a closing note, today’s merchant processing services such as credit card processing is fast, convenient and secure. For a small business, being able to accept credit cards is the smart way to go and grow. The only thing you require as a merchant is a reliable merchant processing service provider that offers you services to meet all your requirements.
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In today’s ever-evolving modern world of electronic commerce, offshore merchant accounts are getting more and more popular. They are gaining more exposure for online technical support businesses. Getting offshore merchant accounts for these types of businesses is not that simple. You are a selling service that will not show up on the door in one or more two weeks. So, you need to show up you are really a business.
For opening offshore merchant accounts for your business, you need to answer a number of questions and forward evidence of processing history with low chargebacks. You need to show you are truly a business. Once you have answered all the questions, information, and the paperwork is filled out, you are on your way to the account. You need to be truthful and upfront with all your paperwork.
Take your own time when you are deciding which type of offshore accounts will work for your business. Along with that, take help of a professional service provider helping businesses with high risk ACH merchant accounts or offshore merchant accounts. They have the right expertise to provide you all the required assistance required to open merchant accounts in a foreign country.
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As more and more online businesses are being set up each day people now have to deal with customers from all over the world. Each business no matter how small or large now needs to have a merchant account and credit card processing facilities to flourish online. Merchants who cannot get a merchant account often turn towards offshore merchant account providers as their last hope. These service providers offer all types of merchant processing services, be it high-risk merchant accounts, ACH check processing, setting up offshore companies and other related services.
You might have been turned down by reputable merchant account providers because they may have considered your business or services as high risk. The first thing you should consider is that while one provider may consider your business high risk, another may not. A business usually falls under the category of high risk when it deals in online pharmacies, online gaming, adult websites, etc. However, there could be other reasons too i.e. you might be a startup company with poor credit history or a business that has less stellar credit card processing history.
Now while you choose your service provider you need to beware and careful. With so many merchant account providers offering their best pricing and services it can be difficult to choose a suitable one. Ensure you have a complete knowledge about offshore the merchant accounts and its specifications and along with it, you also have proper knowledge of the service provider.
Make sure –
- You get all required services: Your business is unique and so are your business needs. You need a provider that can provide you all the services specific to your business needs like for instance a highly secure payment gateway, high-risk credit card processing, and a service provider that specializes in risk management, a suitable offshore jurisdiction, etc.
- Claims of no frauds/charge-backs: Reputable merchant account providers acknowledge the risk of frauds/charge-backs. Offshore merchant accounts experience a higher number of average charge-backs which generate chargeback fees that need to be paid by the merchant itself. So, make sure you know how to handle these types of situations.
- Customer and support services: The merchant account service provider you choose should deliver you a high level of customer support and also be 100% confidentiality, allow high volume, API and VT integration and fair processing rates, etc.
Lastly, choosing a suitable merchant account service provider is very crucial for your business and will help your online business flourish. A right service provider along with satisfactory merchant processing services plays a valuable role in your business strategy.
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