A Review Of Merchant Credit Services

If you are starting a new business or simply want to add credit cards as a payment option for your current business, you will need to seek out merchant credit services from banks and credit card processors. There are many banks and that provide credit card processing services for small businesses; the following is a quick list of some of the most popular merchant accounts.

Conventional Banks

If you are considering opening a merchant account, and have relatively good personal credit, then you may want to consider opening your merchant account with your personal bank. Many banks offer card processing services, or work with larger banks that provide the service.

Generally speaking, using your primary business bank to process credit card payments will allow funds to quickly be deposited into your business checking account. While all credit card processors generally make funds or credit card purchases available in a day or two, using the same bank to process your card payments, may make things even faster.

E-Commerce Merchant Accounts

If your small business is an online business, or if you want to allow customers to shop for products on the Internet, you will need to set up an e-commerce merchant account. E-commerce merchant accounts process credit card payments for purchases made over the Internet. The merchant account will allow your customer to enter their credit card information and quickly receive a purchase approval or denial. Once a purchase has been approved, e-commerce merchant accounts work much in the same way as standard credit card processing accounts. The funds are generally transferred to your business checking account within 48 to 72 hours.

Alternative Merchant Account Solutions

Other than conventional banks, there are many other sources for credit card merchant accounts. For example, software vendors like Intuit, which produces the very popular QuickBooks financial software, also works with a network of banks to provide merchant accounts to QuickBooks users. This type of merchant account integrates fully with the QuickBooks software and is a popular choice with many small business owners.

There are hundreds of smaller companies that provide credit card processing as well. Some of these competent companies work with a network of processing banks, or in some cases process the payments directly. Therefore, in order to find alternative credit card merchant account solutions, you simply need to use your favorite search engine and search for credit card merchant account providers.

Regardless of the provider that you choose, most card processors will provide you with a credit card machine that you can used to swipe customer credit cards at the time of a retail sale. Once you are approved for a credit merchant account, the processor will generally help you walk you through the setup process for your credit card machine and instruct you on its use. Therefore, as you can see when your small business wishes to accept credit cards, there are certainly many options available to you.

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