How to get more out of your business even without a merchant account.An online store can accept credit card payments, even without a merchant account, by setting up a third-party credit card processor, also known as an online merchant account.Many businesses are now accepting credit cards just to increase their cash flow and sales, and to invite more customers who prefer to pay with their credit cards. Most online stores today are now open for...more
Confused about merchant account and payment gateway? Know the difference betweent the two and how they work out.Merchant account is a retailers bank account that allows payments from consumers credit or debit cards. Payment gateway on the other hand, is not a bank account but it only acts as a terminal for verification and authorization of transactions in credit card processing.Merchant account and payment gateways are sometimes conjectured as...more
Want a high risk merchant account but without a personal guarantee? Here's what you should do.Best alternatives for a high risk merchant accounts personal guarantee are the business financial strength, a letter of credit and a reserve.It is hard for a business to acquire a merchant account especially when the business is dealing with risky financial transactions or dealings. Most merchant account providers require lots of requirements to check if the business is really suitable to have a merchant account. Applicants may also notice that in order to set up a merchant account, a personal guarantee is mostly required by an account provider. A personal guarantee is an important requirement for high risk merchant accounts simply because the providers only want to protect themselves from any financial burden brought about by high risk businesses.There are times that business owners dont want a personal guarantee when applying a merchant account. Below is a list of alternatives for a high risk merchant account's personal guarantee. All of these alternatives really work but it greatly depends on how it is used and the business' type or financial strength. Some merchant account providers...more
Ever wondered if online business can survive without a merchant account.Using a third party processor, also known as free merchant account, is the best and the easiest way to sell online without a merchant account for the following reasons: minimal set-up fees, low upfront costs, credit check not required, fast way to accept online payment.A third...more
Have you heard about a high risk merchant account? Here is a list of information about high risk merchant account that you should know.A high risk merchant account is a type of merchant account that accepts credit card payments from customers of a high risk business such as online gaming, pharmaceuticals, travel, telemarketing and the likes....more
Setting up a merchant account without a personal guarantor is possible. Here are ways on how to do that.To set up a merchant account without a personal guarantor, the applicant can use his business financial strength instead of a personal guarantee, present a letter of credit, put some of his funds into reserve, or find a merchant account provider that does not require a personal guarantor.In setting up a merchant account, applicants will notice that most merchant account providers are now requiring a personal guarantee. A personal guarantee means that at the time when the merchant account holder and his business cannot meet the obligations in sustaining the merchant account, the merchant account provider has the right to pursue the person, who signed as the guarantor, to answer those obligations. A personal guarantor can be either a close friend or one of the business owners with a satisfactory credit background. Being a guarantor is very risky that is why many retailers would like to avoid that as much as possible when acquiring a merchant account. Fortunately, a merchant can apply for a merchant account even without a personal guarantor. Here is how:Back up your application with...more
Is it okay to apply for a merchant account even without a business name. A registered business name is needed when applying for a merchant account. Reasons for requiring a business name include: merchant account is not for personal use, greater...more
One can find free merchant accounts through some sites like: 2checkout.com, freemerchantaccounts.com, and freeauthnet.com. It offers services like merchant account application, set-up, terminals, shopping carts, and gateway processing - everything...more
What does it take to get a good credit rating score? Well, first it does take some time. Having excellent credit rating doesn’t happen overnight. First of all you actually have to HAVE credit before you worry about having a...more
If you ever find yourself with a bad credit score, you ought first of all to take immediate action to repair your credit before it becomes unmanageable and troubles start accumulating. Credit scores are assessed on the...more
The credit report includes all the information which is related to your fiscal condition and on the other hand is very important for your entire financial dealing. Generally, this credit report is been prepared by 3 major credit bureaus who regularly...more
Would you believe that Internet merchant accounts can be approved even at an instant? Find out how it's possible. The lead time for getting an approval of an internet merchant account would completely vary depending on the merchant account providers'...more