What is an Internet Merchant Account?
Searching for your an Internet internet merchant account provider isn’t a task to be rushed. Because merchant services can vary by account provider, you want to be sure you take your time to select the one that’s the best choice for your business.
There are many elements to consider when choosing a merchant account services provider. Comparing fees and costs is one part of the selection process. But other factors, like experience and customer service levels, are also important. The following guidelines offer suggestions for you to consider as you begin your search for the merchant account provider that’s ideal for your business needs. A merchant account allows businesses to accept credit cards for payment of products and services. An Internet merchant account allows websites to accept credit cards from customers and process them through a secure Internet connection.
The Basics of an Internet Merchant Account
The customer inputs their credit card number into a secure web based form, or through shopping cart software. The information is encrypted by the third party processor who sends the information to the customer's account at their bank and to the merchant account's bank. If the payment is approved the customer's account shows the charge and the money is deposited to the business's bank account.
Types of Businesses That Benefit from an Internet Merchant Account
Offering credit cards purchases through an online merchant account demonstrates that the business has the security and privacy of its customers first and foremost. Most shoppers recognize the https in the URL of a secure site and the padlock as signs of security.
Brick and Mortar Stores
Some websites offer digital products that can be downloaded immediately after payment. Offering credit card payment as an option enables customers to get the product quickly.
Professionals, Consultants, and Service Providers
In most cases, the service provider will not provide the service until they have the initial payment and a check takes too long to be processed. An Internet merchant account allows the service provider to get paid immediately and the business to conserve their cash.
A wireless merchant account allows them to accept a credit card as soon as the work is finished. Or in the case of monthly services for a set amount such as bug extermination, the companies can bill the credit card on a regular basis. Most customers prefer the convenience of using their credit card for unexpected repairs.
Accepting credit cards through an Internet merchant account can lead to higher sales and more profits. And, most importantly, can provide a higher level of customer service as well.