I have plans of putting up an online store in the future so I’ve been doing some research about it already. One of the things I’ve learned is that choosing a merchant accounts provider responsible for facilitating payments is crucial.
Reasons why you need a merchant accounts provider for your online store:
Customers are wary about their financial information being compromised whenever they make online purchases. To entice them to purchase from your store, make them feel that buying from you is safe. A payment solutions provider must use Secure Socket Layer (SSL) encryption technology to ensure that your customer’s credit card information is always secure.
Faster Payment Processing
Most merchant accounts solutions deposit customer payments directly to the seller’s bank account only within a couple of days . This is contrary to payment solutions like PayPal which only stores the money on your account. You only receive it when you request a transfer of the funds to your bank account which can take up to a week.
Ability to Accept Payments from All Over the World
The beauty of an online store is that it allows you to cater to customers not only from your own locality but also from the rest of the world. You need to provide these customers a variety of payment options because some of them might be unavailable in certain countries. A merchant account will take care of that.
Increase in Revenue
Because you can cater to more customers, you can also sell more products. By having a merchant account, you lessen the chances of turning down a sale just because you don’t have a way to process their payment.
If you’re looking for a payment solutions provider, check out Merchant Accounts Solutions. They are one of the largest merchant acquirers dedicated to providing customers with the most advanced systems and technology, such as the wireless credit card reader.