Merchant Services – Now You Can Pick the Right Provider With Confidence

No matter what the size or scale your business is, odds are that you can potentially benefit from many of the services that a merchant account can offer. Merchant accounts can help you start up a new online business, they can assist you in handling credit card transactions, and they can even handle escrow services for expensive transactions.

When it comes time to deciding what merchant services provider is right for you, it is first important to decide what exactly it is that you want. However, many merchant account providers, also known as independent service organizations, offer things that can help your business that you may never even have considered. The best way to proceed is to take a look at how merchant services work and what they offer before deciding how you can use them to grow your business.

Credit Card Processing

One of the biggest advantages to opening a merchant services account will be your ability to process credit cards. In today’s world people expect to be able to pay with their cards wherever they go, and if your business can’t do it your potential customer will find somewhere that will. Credit card use is only going to increase in the future so the time to get on board is now.

There are a few ways your business can decide to process credit cards. The most common would be through a retail swipe terminal. This is the type that you see on the counter at any convenience store. Processing fees on these are usually low because there is less risk of fraud when people pay in person.

You can also set it up so that your business can credit card processing iso programs process credit cards securely through your website. If your customers want to buy something online they can just punch their credit card information in and it will be sent over to the merchant account provider for processing.

Another option is to set up a virtual terminal. A virtual terminal is essentially a website that you can log into from any computer connected to the Internet. Once you have logged on you can simply punch your customer’s credit card information in. This is especially handy if you receive a lot of orders via phone or fax. Also, since you can access the terminal from any computer that is online, you can take orders from just about anywhere.

Once your account provider has your customer’s credit card information it goes through a series of complex steps. Luckily, you don’t have to be involved in any of them. About two to three business days after the card information has been accepted the payment will be deposited in your business’s bank account. No muss, no fuss.

Debit/ATM Card Processing and e-Checks

When your account provider processes an ATM or debit card it works essentially the same as a credit card. At least it does on your end. The only difference is that the money is taken right out of the customer’s checking account.

Processing e-Checks is another service that your merchant account provider can set you up with. It essentially works like a real check, just on the Internet. All you need is the bank’s name, the check’s routing number, and the account number for the checking account. No signature is required.

There are a couple different ways that you can accept these e-Checks. The first is to buy a software application for your computer that is designed specifically to print online checks. After you have printed the check out you just deposit it in the bank like any normal paper check. The only problem with this method is the same problem with a normal check. It takes a few days for it to clear.