Proper Planning For Merchant Account Solutions

Payment processing is vitally important for the success of your internet businesses. You may have the perfect business operation but it means nothing if your customers cannot buy your products quickly and easily. Unfortunately, many businesses do not devote the time and resources necessary to put in place the correct merchant account solutions.

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Merchant Account Solutions used to mean simply offering credit cards as a payment option. But, up 30% of online payments are made by methods other than credit cards.

Credit cards ought to be part of your payment processing solutions. However, spend time researching alternative payment options preferred by your target market and implement them along with credit card processing.

Credit card merchant account solutions abound. A quick search of the internet reveals thousands of companies offering credit card processing. If you are an established business selling items that have little risk of chargeback’s, you may be able to shop for the lowest rate and be done with it.

But if you are selling any good or service that is perceived to be higher risk, be careful. There are lots of sad stories about merchants that went with a processing solution based on promises from an inexperienced (or a ruthless) sales person that had an interest what was best for the merchant.

Once the account was approved and the merchant started processing, suddenly settlement funds from transactions were not received. Merchants had thousands of dollars piling up in orders and no way to process because the solution was not the right one.

The salesperson received a commission when the account was signed and is long gone. The merchant's increasingly frantic calls and emails for help are ignored.