In the digital age, one thing has become so common on the tongues of most merchants is “making money online.” Three words that roll off the tongue like pure magic! More and more people are selling and buying online or providing different service over the internet. In fact, a good number of people currently make an entire living out of the internet.
However, there is a minor problem with the online opportunity – processing funds. This includes both sending and receiving money. Most online transactions involve credit cards and you can’t process the cards or eChecks without a reliable payment processor.
This is where merchant account providers come in. companies like EMB make it very easy to accept credit cards for service providers as well as online marketers.
How to choose a reliable merchant account provider
There are like a million merchant account providers spread across the United States. However, only a few provide good service. Here are a few factors to consider when selecting a merchant account provider;
- A toll-free phone number
- One-off and subscription billing
- Low processing rate
- Point of sale (POS) equipment and terminals for offline transactions
- Reliable, 24/7 customer support
Recent research shows that consumer purchase decisions are hugely influenced by factors such as toll-free assistance and round the clock customer support. For instance, an internet marketer may be overlooked by a customer if they can’t provide 24/7 support. Moreover, the type of merchant account provider you choose might impact how consumers see you. Many times small things such as delayed transactions can evoke fears of fraud or legitimacy. Ensure that the account provider you choose will not subject you to such pains.
Membership based websites are some of the best sources of revenue on the internet. It allows you to provide certain services for your customers, who in turn allow you to take out a certain amount from their credit cards periodically (typically monthly or weekly). If you’re in such a business, the payment processor you choose should be able to process subscription based payments without raising eyebrows.
Finally, you should also select a marketing firm payment processing provider who can protect your interests when dealing with processing refund requests and chargebacks. Leading providers such as EMB now allow merchants to handle refunds and chargebacks automatically. This way, you don’t have to worry about refund requests bringing other business activities to a standstill.