Credit card processing and applying for merchant accounts is an integral part of business growth. If you want to be able to accept credit card payments, you need a merchant account. Many businesses are often afraid of what is involved with applying for such an account. Thankfully, applying for a merchant account is faster and easier than you may think.
Application informationThe application process for merchant accounts begins with providing all of your business information, and so on. Merchant account providers need this information in order to be able to perform a screening of your business. A merchant account is going to be monitored by a company who handles money from your customers. They will buy a product on your site, pay with a credit card, and process their order. That money is going to go to a merchant account which will in turn be paid to you. If you do not deliver the goods or services promised, you are not going to get paid through the merchant account. Providers want to avoid the need to track down and deal with poor clients, thus requiring the screening process.
Timing of the application and processing
It does not take very long to apply for a merchant account. An application can be completed in less than an hour. The actual screening process is going to require some leg work on the park of the merchant account provider. In the majority of cases though, you can be up and running in just a few days. This means you could go from not being able to handle credit cards, to processing credit card payments in only a day or two. Credit card processing is a huge part of business growth to increase sales.
Being able to process credit cards is going to attract many new customers. This leads to increased revenues and the chance to grow your business. Processing credit cards also provides legitimacy to your business. Customers will feel safer buying from you, and will have an easier time making purchases online. If you are worried about applying for a merchant account, you can rest easy knowing the process is simple and fast.