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Frequently Asked Merchant Account Questions and Answers 3. Is it necessary to accept credit cards ? The answer is Yes, in today's competitive marketplace being able to accept credit cards can increase your sales by as much as 15% to 100%. Customers want to be able to pay immediately without having the hassle of going to a bank to get money or waiting until they have money to make the purchase. Chances are if you don't accept credit cards and a customer leaves to go to the bank they are probably going to stop somewhere else to get their product or service. COMPETITIVE WEAPON - Before customers will even shop in your store they will check to see if you accept credit cards, and will often buy from you if you do. COMPETE WITH THE BIG GUYS - If you want any hope of competing with the large retailers you will need to accept credit card payments if you want any hope of penetrating the larger market. PEACE OF MIND - Credit cards give customers security as it protects them in the event they need to dispute a charge in the event the service or product is malfunctioning or faulty. CONVENIENCE - Providing an easy way for yoru customers to make payments is one of the biggest reasons to accept credit cards. CUSTOMER LOYALTY - It is important to know that a lot of customers will look for the credit card logos at an establishment and it is important when doing any marketing to include the logos of the credit card companies that you service so in the instance a customer is short on cash they can come to your establishment knowing you are able to help them out because you accept credit cards. General Information 1. What exactly is a Merchant Account and do I really need to have one? 2. What other options are available ? 3. Is it necessary to accept credit cards ? 4. When I make a credit card sale how do I get the money ? 5. Can I apply for a merchant account at a bank ? 6. When looking for a merchant account provider how do I find the right one? 7. What information do I need to provide to set up a merchant account? 8. What is a high risk processor what makes them risky? 9. I plan to open an online store what must I know about processing credit cards online? 10. If someone wants to make a check payment on my site can I process it? 11. How do I implement the payment process on my website?
Fees/Expenses 1. What other fees are involved not listed on the site? 2. Are there any other fees you aren't mentioning on the site? 4. What kind of fee does American Express and Discover charge? 5. What is the best price to pay for a digital terminal or software? 6. I don't have very much start up cashflow but would like to start right away what should I do first? 7. What can I do to prevent chargebacks and credit card fraud?
Risks and Safety 1. Is it risky to accept checks as I know some people refuse to pay with a credit card. 2. If I decide to accept checks what other pertinent information should I know first? 3. Is it possible to accept check payments on my website? 4. How safe is it to accept credit card payments over the internet? Is it really secure? 5. How can i reduce the risk of accepting bad or fraudulent credit cards?
More Information 1. If I already have a terminal is it possible I can have it programmed with my new merchant account provider? 2. Am I able to process Foreign, Government or Corporate credit cards? 3. If I have a retail business is it a good idea to accept debit or check cashing cards? 4. What is real time processing and electronic terminals? How about software?
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