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Merchant Accounts Explained
The ability to accept credit cards is essential if you use your website to sell things. Most online customers want instant satisfaction. They don't want to have to send a check and then wait for their merchandise to arrive. They want it now!
A merchant account offers a way for your business to process credit card transactions online and ship the customer's order right away. There are literally thousands of merchant accounts to choose from, ranging from the one provided by your local bank to those offered by large international financial institutions.
The purpose of this article is to help you sort through all of those merchant account offers and choose the one that is best for you and your circumstances.
Merchant account basics
A merchant account lets you accept an order online, then validates the transaction in real time and gives an approval or rejection within mere seconds. If the transaction is approved, the bank collects the money from the customer's bank, keeps a small transaction fee, and places the rest in your bank account.
Sounds great, right? Well, it is. Merchant accounts are the best thing to come along for merchants since the dawn of commerce. If your business operates online, you simply must have a merchant account in order to succeed.
>> Part 2 - Costs associated with a merchant account
>> Part 3 - Qualifying for a merchant account
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