As a store owner, you need to make sure you'll be capable of processing credit card payments since this is the mode of payments used by most customers nowadays. To process such payment methods, you will need to set up merchant accounts. Prior to setting up these types of accounts though, you need to learn a few things. Depending on the type of business you have or process by which you transact sales, you will find there are quite a few common types of merchant accounts you can use.
The first type is called the card present account which, as its name suggests, is a process where the card is present at the time the sale was made and is swiped in a processing terminal. Since the owners of the card are present when it is swiped and the sale is completed, this is considered to be the lowest risk type of merchant account.
Store owners on the other hand, use portable card processing machines that utilize wireless merchant processing accounts. The process of completing sales transactions in this type of account is the same with the card present type of account in the sense that owners are present at the time their credit cards are swiped or used. The difference is that this type of merchant account makes use of card processing devices utilizing wireless signals, making it easy for business owners to accept payments regardless of where they are.
Service fees for this type of account are actually quite affordable; the units though, cost a little more than standard credit card processing devices. This type of account is perfect for businesses that deploy sales team on the field or if you need to set up booths in trade fairs or events.
Then there is the store and forward type of account where the customer's credit card information is stored and processed only when the device is connected to a phone line. So as you can see, you need to determine what your business needs are before you get in touch with payment processors such as http://www.usbswiper.com and set up a merchant account. This is quite important because you would not want to end up with the wrong type of account which will not suit the exact kind of business you have.
It also defeats the purpose of having such an account because the wrong one will not allow you to process credit card payments. In any case, you would need to take your time to go over and study carefully the options you have prior to making a final decision as to the type of merchant account you will set up and of course, which payment processor you will be getting it from.
The first type is called the card present account which, as its name suggests, is a process where the card is present at the time the sale was made and is swiped in a processing terminal. Since the owners of the card are present when it is swiped and the sale is completed, this is considered to be the lowest risk type of merchant account.
Store owners on the other hand, use portable card processing machines that utilize wireless merchant processing accounts. The process of completing sales transactions in this type of account is the same with the card present type of account in the sense that owners are present at the time their credit cards are swiped or used. The difference is that this type of merchant account makes use of card processing devices utilizing wireless signals, making it easy for business owners to accept payments regardless of where they are.
Service fees for this type of account are actually quite affordable; the units though, cost a little more than standard credit card processing devices. This type of account is perfect for businesses that deploy sales team on the field or if you need to set up booths in trade fairs or events.
Then there is the store and forward type of account where the customer's credit card information is stored and processed only when the device is connected to a phone line. So as you can see, you need to determine what your business needs are before you get in touch with payment processors such as http://www.usbswiper.com and set up a merchant account. This is quite important because you would not want to end up with the wrong type of account which will not suit the exact kind of business you have.
It also defeats the purpose of having such an account because the wrong one will not allow you to process credit card payments. In any case, you would need to take your time to go over and study carefully the options you have prior to making a final decision as to the type of merchant account you will set up and of course, which payment processor you will be getting it from.
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If you want to know more about merchant account then visit http://www.usbswiper.com for more details.
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