There really has never been a better time than now to start an Internet business. The Internet explosion has allowed people who were sick of working the regular 9 to 5 schedule to start their own online businesses. Online businesses have a good potential to make money if they’re marketed correctly because there are less overhead expenses.
The one thing you must have if you expect to receive payments directly from customers visiting your website is a merchant account. A merchant account is an account that online business owners use to send and receive payments. All you’ll need to open one is some personal information and a separate bank account. You’ll need a bank account so that once you’ve received payments, they can be transferred to your business account.
Benefits of Having a Merchant Account
There are a number of benefits to opening up your own account. They’re easy to apply for and set up but here are some of the other reasons why they’re excellent for online retailers.
They’re safe. Identity theft is of great concern to online shoppers but a merchant account keeps all personal information safe. Consumer information doesn’t float out into cyberspace, rather it’s simply collected in order to obtain a payment and is not shared whatsoever.
Customers Don’t Have to Leave Your Site. Have you ever been to a website that makes you leave the site to pay for your items? That can be a bit annoying and can leave customers wondering if their information is safe. With a merchant account your customers won’t have to worry about that because the checkout process can be done entirely on your website CBD merchant account processor.
Generate More Sales. If you accept credit card and debit card payments you are automatically going to increase the potential number of sales for your business. People shopping online love to pay electronically because it is quick and that allows them to receive their goods or services faster.
Receive Payments from Around the World. Merchant account providers can work with you to determine what’s best for your business but there is the possibility of being able to accept payments from all around the world. This is another easy way to be able to generate more sales on your website by using a merchant account.
Receive Excellent Customer Support. Providers know how important customer service is which is why most of them provide 24/7 customer service. Any time an issue should arise with your site’s checkout system or payment gateway, they will be on hand to help you right away. The quicker you can get everything working again the sooner you’ll be able to make more sales.
Low Fees. Merchants are usually charged for each transaction that involves an electronic payment. This is because the merchant account provider is also charged for processing payments, however the fee that you will experience is a very, very small percentage of the transaction. Some providers may even provide a flat fee. It all depends on your company’s sales volume and how many transactions you process each month.
As you can see, it’s almost silly not to have some kind of merchant account if you’re conducting business online. These accounts make it easy to receive payments and generate refunds to your customers as needed. You don’t need to be a “techie” either because the merchant account provider will be there to help you every step of the way.