Credit Card Merchant Account Basics

Today's consumers rely heavily on their credit and debit cards to make purchases large and small

, in-person and online. As a result, merchants should accept credit cards for business if they want to maintain a competitive edge and remain afloat in a challenging economy. Credit card processing is about more than simply increasing sales; significantly improved cash flow is certainly another great benefit!

By accepting credit cards, both small and large businesses can streamline the payment process for a more efficient business strategy, save money, and contribute to a greener business solution. Read on to learn more about the benefits and basics of credit card merchant accounts.

Accepting Credit Cards:

A credit card merchant account allows business to accept credit card payments, whether through point-of-sale transactions using a secure credit card terminal, or through online payment gateways that allow customers to make purchases over the Internet. Fewer consumers carry large amounts of cash or write checks for retail purchases, so providing the option of paying by credit or debit card increases their chances of making a purchase. From fast-food restaurant chains to small at-home businesses, merchants can provide convenience and flexibility for their customers while maximizing their business' efficiency and increasing reliability.

Customized Merchant Accounts:

A credit card merchant account customized to specific business needs can help merchants reach their business goals and save money in the process. Customized options include e-commerce payment gateways and electronic invoicing. E-commerce payment gateways, for example, allow merchants to accept online payments safely and efficiently, while electronic invoicing reduces costs associated with paper invoicing and gives customers the ability to manage their accounts online. These options also contribute to greener business solutions, as today's businesses and consumers are growing more concerned with reducing waste.

Security and PCI Compliance:

When transmitting sensitive credit card information, credit card fraud becomes a major threat. Hackers and thieves continually attempt to steal credit card data for fraudulent activity, so merchants and businesses must take the proper precautions to keep their customers' data secure. Advanced PCI compliant security features are critical to saving money should sensitive information be compromised, as merchants are held liable and can be charged hefty fines that significantly devastate business. Security features include tokenization, end-to-end encryption (E2EE) and address verification systems (AVS).

When considering a credit card merchant account, be sure your merchant account service provider has the experience and industry expertise to connect your business with the most advanced and effective tools for credit card processing.

by: Julie Henaghan

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