Merchant Account

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Topics: merchant account, merchant accounts

What is A Merchant Account?

A Merchant Account is a type of account that will allow a business to take some form of payment such as a credit card,debit card or a check from a customer electronically which goes through a processing bank or clearing house and deposits the transaction into the business account for a small percentage. There are several types of merchant accounts to choose from.

It doesn’t matter if you have a retail store or your an online business it’s necessary to have a merchant account.

A retail company usually would use some type of credit card machine that will allow you to swipe a credit card. This type of merchant account is a more cost effective payment processing method.

There is also a merchant account that will allow you to accept PIN based debit, which will allow the client to enter his pin number. This type of transaction if set up properly is a small flat fee instead of a percentage; usually ranging from 20-35 cents a transaction with no percentage. Then there is an online payment gateway merchant account or a virtual terminal merchant account. This type of merchant account payment processing method is used to accept credit cards from some sort of web site or what they call a Moto account where the card is not present.

This type of merchant account usually is a bit more expensive as far as the percentages because of the risk of chargeback’s with the card not present. Visa MasterCard consider these types of merchant accounts to be more of a high-risk merchant account because the chances of fraud are much greater then a standard retail swipe merchant account.

However these types of merchant accounts are very lucrative because of the large number of transactions that can occur on a daily basis from a global level. These Merchant Services programs if you have the right traffic directed to your web site or you have some kind of marketing advertising campaigns that can create many transactions on a daily basis.

When choosing a merchant account you have several options, choose carefully.
It’s always good to know what type of merchant account is best for your business and if you don’t know, ask an expert that’s been in the merchant account business a long time and knows what your options are that can help you make the right choice

Worldwide merchant Services, LLC is your one stop shop to all you merchant account needs.
Call MadRich 24/7 for a free consultation,or just follow the blue arrow and apply Today!

(866) 949-8472

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