It is important for a store or business to utilize a merchant provider as it gives them the ability to process debit and credit card payments. Some examples of merchant providers include Merchant Warehouse, Merchant One, Chase Paymentech, and Flagship Merchant Services.
Some popular high-risk merchant account providers are HighRiskCommerce.com, QWIP-I, Graypay and Alertpay. Other alternatives include high risk providers such as CCBill and InstaBill.
There are several factors to consider, including the charges made and the level of service. Overall Flagship Merchant Services does the best, with Merchant Warehouse and National Bankcard also being good options.
The purpose of an online merchant account is to sell things online. Online merchants need a merchant account or internet merchant account in order to accept payments. Merchant accounts are supplied to online traders by banks and payment service providers like PayPal and, in the UK, Nochex.com.
There are a multitude of merchant hosting providers to choose from. A quality merchant hosting provider has Microsoft Front Page Extensions Support, professional technical support available 24/7, and at least 99.9% network uptime guarantee. Providers who offer all of these services include: Host Gator, Just Host, iPage, Blue Host, Host Monster, Hub, Fat Cow, and Web Hosting Pad.
First Data Merchant Services are providers of payment solutions in global commerce. They make payment transactions secure and easy for their customers.
There are a few places where one can obtain a merchant account for credit. One can first approach the bank they do their business banking with. Failing that, there are other providers such as Worldpay and Streamline.
Traditionally, online merchant accounts have been supplied by the banks. These days there are many alternative providers such as PayPal, and in the UK, Nochex. There is usually an application process to complete before a merchant account is set-up and in the case of banks these have been known take more than two months to set-up. The newer payment service providers can usually set-up accounts immediately or within a couple of days.
A Merchant credit card cater to those in retail, those selling on the internet, service providers, and those that are new to business. A typical credit card is basically for anyone that meets the credit status.
You obtain a merchant account from a merchant account provider - there are plenty of these as they are basically like a bank. Choosing which one to go with depends first on your geographic location and second on what type/ size of business you are. The process can be grueling because the providers need quite a bit of information from you. A merchant account is basically a line of credit, so the banks want to be sure that you are in fact a legitimate, revenue producing business before they grant you an account.
There are literally 100s of providers and 1000s of resellers with regards to opening a merchant account to process credit card transactions. If credit score is not a problem, good places are Bank of America, Wells-Fargo, First Data, Cybersource, Balanced Payments, Braintree Payment (highly recommended), Stripe, etc. If your credit score is low and it cannot get you a direct merchant account, then the alternative is to look for companies known as 3PP 3rd Party Payment providers. These companies are essentially aggregate resellers. A good example is 2Checkout, etc.
Yes, it is possible to open a merchant account if you are in ChexSystems, but it may be more challenging. Many payment processors conduct background checks through ChexSystems, and a negative report could lead to denial. However, some providers specialize in working with high-risk businesses or those with poor banking histories. It's advisable to research options and consider alternative providers that may be more flexible.
A merchant account provider helps businesses to accept credit and debit card payments. Since credit cards have become more popular in recent years as a method of payment, more businesses have began offering the choice to pay for services or items by credit or debit.