What is a business merchant account?
A business merchant account is an account set up directly with a bank or payment processor. Business merchant account systems allow you to accept credit cards from your customers. You must set up with a merchant account processor if you want to be able to accept credit card payments. Once you apply and are approved, a processor electronically batches and deposits your ongoing credit card sales. You simply pay the payment processor a small percentage of you credit card sales.
Why accepting credit cards can result in a more profitable business:
- Increased sales
- Consumers can take advantage of specials, stock-up on the products and services they need most.
- You save time on the management of billing, sending statements and tracking receivables.
- Consumers enjoy the speed, convenience and payment flexibility that cards provide.
Evenmore, your monthly credit card sales can be a source of working capital (cash). Some of the funding sources in our directory will advance you cash against your credit card sales volume. We can help you find a source for credit card receipt advances.