If you are one of many online merchants selling firearms online then you will want to ensure that you are receiving the best merchant account rate for the product or products that you are selling. Here are some tips to help you find the best merchant account rate for online firearm sales.
Anytime that you sell a product online and you accept credit cards as a form of payment you will have to pay a fee in order to accept this form of payment. In order to avoid having to mark up your prices in order to accommodate the fees you will incur you will want to find the most affordable rate for using a merchant service. In addition to finding an affordable rate, you also want to safeguard your customer’s privacy.
In order to determine the best merchant account rate for online firearm sales you will need to calculate the following information to see what your total in fees and charges will be for the year. You will need to know what the setup fee will be with the merchant company you are looking at. You will need to find out what your statement fee, annual fee, per transaction fee, any discount rate fees and any software lease information.
For example, let’s say that you are not required to pay any start up fees. If your statement fee is $5 a month then you will need to multiply this time 12. So you would be paying $60 yearly for your statements on your merchant account. Next let’s say the annual fee is $10, which now brings us to $70 yearly. From here you will calculate the other fees using the percentage provided by the merchant account service you are looking at.
You can use this method in order see which company or bank will provide you with the best merchant account rate for online firearm sales. Once you have found the best rate from an accredited bank or other financial institution for your merchant account and one that offers the best possible security for your online customers, you will be ready to accept credit card payments online.
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