Tips to Choose a Merchant Account Provider

by | Mar 19, 2013 | Money And Finance

There are many merchant account providers in the market, but it is important that you use your due diligence before settling on a particular one. A business can be successful only if its operating and maintaining costs are kept down. You certainly won?ÿÿÿÿÿÿÿ™t want to pay high monthly fees for acquiring a merchant account. You also won?ÿÿÿÿÿÿÿ™t like to overpay for credit card processing. There are several other reasons that you would want to consider before choosing a merchant account provider.

Here are some important tips for business owners looking for debit and/or credit card merchant accounts:

Take time while selecting a merchant account. If you are too hasty then it is quite possible that you may miss out on a really great deal. There are three main factors that you must keep in mind while choosing a merchant account provider. They are as follows:

  1. Integrity of the provider
  2. Customer Service
  3. Price

Integrity of the Merchant Account Provider:

You must not make your choice, just by going through the website of the providers, who claim to offer a debit and credit card merchant account. What they have posted in their website may or may not be legitimate. Don?ÿÿÿÿÿÿÿ™t assume anything. Be careful and protect your business from any unwanted trouble, as there are many service providers that charge high rates for their credit card processing.
Here are some tricks to check the integrity of the merchant account providers:

  1. Beware of the ones who have representatives who seem to give you the run around every time you ask them a question about rates, or their agreement.
  1. Stay away from those who can’t afford a real domain name and website. Such providers don’t post all their rates and fees on their website.
  1. Make sure that the website of the account provider clearly shows what they represent. You must know that it is unlawful for a merchant account provider to not display information about the banks they represent, on their website.

Customer Service:

Customer service is essential to the success of ecommerce business. It is very important for long-term success and smooth debit card or credit card processing. Before opening an account with any merchant account provider, try out their customer service number. Investigate to understand their attitude and helpfulness.


Price, of course matters a lot. Compare the rates of credit card processing offered by the various merchant account providers. Choose the one that offers reasonable rates. Beware of those who do not disclose their processing fee at the time of account opening and later charge more.

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