Why should you have a Merchant Account?
A Merchant Account is a type of account that allows a business to accept and process credit cards. The funds collected are then deposited into the business’ bank account.
If your business does not accept credit cards you are basically limiting your ability to do business. Most consumers often never carry enough cash and some don’t even own a checkbook but they do have a credit card. In fact 96% of Americans between the ages of 18 and 70 carry a credit or debit card.
Reasons to accept credit card payment:
- Your competitors accept credit cards
- More ways to collect money from customers
- Payments are automatically deposited to your bank account
- Faster transactions