<-- Back to Current Category
A Low Cost Merchant Account
By: Shane Penrod, Mon Feb 20th, 2006
If you are new to the business world, you may believe that a low
cost merchant account is beyond reach. You might reason that
every dollar of profit you make should be funneled right back
into the business' products or services rather than into an
account that facilitates electronic payment processing. But a
merchant account may be the very asset your business needs in
order to achieve the growth you want to see. By providing your
customers with alternative payment options to cash and check,
you are inviting them to spend more and pay according to their
preferred method, since research shows more consumers are
choosing to pay by credit card than any other means.
A low cost merchant account can help your business grow by
enhancing your marketing plan. When the word gets out that your
company offers electronic payment services like credit card
swiping, telephone dial-up, and Internet Website payment
options, customers will be impressed and may be more likely to
check out your various options to see for themselves how easy
you have made it for them to shop with your company. Naturally,
you don't have to offer all these options at once. But you can
start by getting approved for merchant account services and then
setting up one type of credit payment option to see how
customers respond. If all goes according to plan and growth
follows the expected trend, you may decide to add another option
to further expedite payment procedures.
Your low cost merchant account can put a terminal-printer on
your checkout counter to help your cashier process credit
payments in addition to making change for cash payments and
getting the manager's check approval. When customers know that
you accept credit cards, they may be more likely to spend more
than they would have otherwise. They might even buy gift cards
or novelty items in the checkout line. If you deliver goods or
services with an appliance installation service, for example,
you can buy or lease a wireless credit card processor that can
go wherever you do for point-of-sale processing. You don't have
to worry about statements that won't get paid or billing
customers each month for the next year. A credit card sale can
finalize the account to the satisfaction of both your client and
you.
When you are ready to grow your business to the next level, with
a low cost merchant account, you can apply for digital credit
card processing by installing a telephone credit payment
service. This will allow customers to call in at any time and
key in their credit card account number for payments without the
aid of a customer service representative. Then you can add a
company Website with a credit-processing feature where customers
can order services or supplies and pay on the spot with a credit
card.
Don't wait too long before making the move to electronic credit
card processing equipment. Your customers expect it, and your
company needs it to stay solvent and experience serious growth.
Start thinking about applying for a low cost merchant account.
About the author:
Shane Penrod is the founder of
http://www.merchant-account-quotes.com Specializing in allowing
merchants the ability to shop and compare multiple quotes from
national merchant account providers. For free quotes on merchant
account rates and fees, please go to
http://www.merchant-account-quotes.com
