What Are the Advantages of Having a Merchant Account Provider?
A merchant account is essential for any business that is launching or has already launched a website online for commercial purposes. It is through a merchant account that sites can accept credit cards and other forms of online payments.
A merchant account service provider has various advantages some of which are outlined below:
- Credit cards are accepted through an easy, fast and economical process.
- Most merchant service providers offer payment gateways either for free or at a very minimal cost allowing for fraud screening as well.
- Merchant account service providers manage orders, fraud issues, security problems, payment and the likes by offering 24 hr customer service.
- Merchant account service providers offer excellent fraud protection software and services.
- Gives you options to open an offshore merchant account/third party merchant account.
- Quick and inexpensive access to a global banking network.
- Increased sales and revenue as many merchant account service providers not only process payments online but allow your business to process high volume sales.
- Allows you to process payments online and offline while not having to redirect the shopper, your customer, to a different site.
- Provide a reliable base from which merchants can process credit card payments as independent processors are more willing to take risks than banks.
- You can immediately make sales allowing for increases in the customer base, further, the sales and customer data is stored allowing for customer retention.