Your First Merchant Account: How to Choose the Right Plan

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<h1>Your First Merchant Account: How to Choose the Right Plan</h1><strong> Author: <a href='http://www.articleseen.com/profile_nelliejanney.aspx'>nelliejanney</a></strong><br /><p>Maintaining a high level of customer service is more important now than ever before as the market continues to change. Customers will notice the difference between an organization that offers a variety of payment plans and one that does not. From online transactions to in-store processing and check acceptance, your business should be ready to evolve to the next level with the right merchant account. Find a Plan Customized to Your Business Whether you're in the retail, restaurant, or service industry, it's important to find a merchant service provider who will accommodate the specific needs of your business. For example, speed is everything in retail stores. That's why you'll need fast and accurate credit card processing terminals that allow for the customer to directly input information with an easy to use PIN pad. Wireless terminals are perfect for many service businesses that have employees working from home, at conventions, or on the road. These wireless point of sale terminals can store a card's information when swiped and then have it forwarded when reaching an area that has wireless service. In the restaurant industry, flexibility matters when customers make or arrange payments. Having the ability to split up one bill into separate checks is very convenient and time-saving for the staff. Instant credit card approvals with no signature required will speed up the payment process, freeing up more tables faster and improving profits. Keep the unique needs of your establishment in mind and you'll better know what to look for in your first merchant account. Familiarize Yourself with Different Providers Shop around so that you will know what to expect from different merchant service providers. Have your lawyer go through the contract with a fine-toothed comb, keeping an eye out for hidden fees and unreasonable rates. You'll know a fair price from a foul one by learning the rates given out by several different companies. Look for online reviews or a way to contact past clients so that you can hear from an actual customer using the services that you are considering. Don't rush into any agreement until you are sure that it is the best choice for your business, and be sure to also follow your gut instinct. Check Out Online Processing If you haven't yet set up a website for your store, then you should give some serious thought to all the advantages that come with online transactions. Customers won't be tied down to the hours of your establishment—they can purchase goods at any time and from any location. Seize the opportunity of a service provider who supplies superb customer service and built-in fraud protection. Plug-ins and add-ons can help give your system a customized touch while increased security for customer information should help you sleep better at night. Look for a merchant who accepts electronic checks, gift cards, and all major credit cards: Discover, American Express, Mastercard, and Visa. With so many benefits and few disadvantages, online credit card processing is a must for a business of the 21st century. Get Some Cash When It's Needed Most Some merchant service firms offer cash advances as a quick and relatively hassle-free way to secure some extra money for your business. No closing costs, hidden fees, or monthly payments make this an attractive alternative to securing a loan from a bank. Another way to procure some cash for your organization is to install an ATM. You'll receive a percentage of each withdrawal a customer makes, and oftentimes the customer will spend that money in your store. You can reduce the amount of cash held in your registers to help guard against theft and make fewer trips to the bank. However you decide to gain some extra dough, be sure to learn about the different opportunities presented by your new merchant service provider. Accept Checks and Credit/Debit Cards Modern businesses need to be prepared to accept as many forms of payment as possible in this era of digital technology. Slender credit and debit card terminals that take up a minimal amount of space and are speedy as well as effective are a must for any store. Check out models that feature a touch screen for signatures, large backlit display, simple PIN pad, and easy load printer. Customers who like to stick to traditional payment plans may want to pay over the phone, via mail, or with checks. A credit card terminal that allows for manual entry will take care of phone and mail payments, while checks should be converted into electronic documents. This cuts down on bank deposit time and makes it easier to track different orders. Select a provider that will help your business accommodate the various forms of payment and you'll be keeping up with or surpassing the competition.</p><strong>About the Author:</strong><br />Nellie Janney is a freelance writer who writes about a variety of topics including <a rel="nofollow" href="http://www.nabancard.com/">internet merchant accounts.</a> <p> Article Source: <a href='http://www.articleseen.com/Article_Your-First-Merchant-Account-How-to-Choose-the-Right-Plan_34496.aspx'> http://www.articleseen.com/Article_Your First Merchant Account: How to Choose the Right Plan_34496.aspx</a></p>

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Category : Business : Small Business