Merchant Account For Business

Accepting online credit card orders has become one of the most important aspects for the growth of a business. You could lose at least 85% of your potential orders if you still are not accepting credit cards. Most online businesses report 95% increase in their order through online order forms.

Opening a merchant account for business is easier than it appears. To accept online credit card orders, you need three basic things:

• Merchant Account
  
• Software
  
• Internet Service Provider
  

Merchant Account for business:

A Merchant account for business is a special account that you open with a financial institution to accept credit card payments from customers. It may not be enough if you are already accepting credit cards for your offline transactions. Credit card companies consider Internet transactions to be riskier than other standard transactions so, not all accounts permit Internet transactions. If your current merchant account does not allow Internet transactions, you have to contact your financial institution to correct this.

There are many banks available that can help you open a Merchant account for you. Their conditions for opening an account may vary drastically, which can make it difficult for you to decide which account is best for you. Most brokers will offer to sell or lease expensive equipment to you, when they open your account. Do not be fooled that is how they make their money. You do not need any software or equipment to open a Merchant account. To open an account, all you should have to do is pay is processing fee, which should not be more than $100. That should be enough for you to start accepting credit cards.

To maintain your merchant account, you must pay the following monthly fees:

• Discount fee - For Internet sales, this fee should be between 2.5% and 2.9%. You should be suspicious of any discount rate that is less than that.
  
  
• Transaction fee - This fee should be between $0.20 and $0.30 per transaction.
  
  
• Address Verification Fee (AVS) - This fee should be $0.05 per transaction. Some (very rare) financial institutions may not require this service, but it is a must for you because it helps to prevent fraud.
  
  
• Statement fee - This fee is usually between $10 and $15 per month.

Apply Today with one of Our Partners

Fill out the form below or CALL 1-888-961-6999 to start the application process. Apply4Less will use this information to find the perfect program for you. The information you submit is used solely by Apply4Less and is not shared with any third parties.