Small Business Merchant Accounts

Small Business Merchant Accounts[EXTRACT]A small business merchant account may be just what your company needs to edge out the competition. If your customer base is growing or they are asking increasingly for credit payment options as well as for information about your products and services, a merchant account can answer their questions and help to grow your business while leaving your competitors in the dust.
It is easy to apply for a small business merchant account. Just find a merchant account provider, which you can do by searching the Internet using relevant key terms. Browse the many sites offering this special type of commercial status before choosing one. Terms and fees vary a great deal, so you want to become knowledgeable about your choices before signing the contract. You may become tempted to take on more than a business the size of yours really needs at this point. Don't be misled by all the bells and whistles that are available. Stick with the basics when you start out, and add other options only when they are truly needed and when you can afford them.
Companies offering a small business merchant account are usually banks and other financial institutions. Typically they look for a company's good credit history, the ability to make payments on the merchant account, and avoidance of questionable commercial activities like spam or telemarketing. They are willing to extend credit to small business owners who demonstrate good business ethics, who have made good use of resources to date, and who have developed a sensible growth plan for long-term goals. Often, the application can be filled out online and submitted electronically, and you may receive an answer within a matter of hours. Then you can immediately purchase or lease credit processing equipment like a credit card processor, electronic or wireless, as well as check and debit processors, pagers, and other types of technical equipment that will upgrade your business into a higher professional realm by dint of efficiency and speed capabilities.
Your small business merchant account will help you set up an Internet Website to promote your business internationally. Customers from around the world can browse the site any time of the day or night and shop without the hassle of finding the store closed or associates unavailable. With your convenience credit processing option, they can order a product or service and pay by credit card, facilitated by the underwriting bank or financial institution that authorizes MasterCard or Visa coordination and then pays you via an account transfer. All you really have to do after setting up the site and keeping it upgraded via service personnel is to make occasional equipment checks and then withdraw income from your merchant account.
A merchant account gives a small business owner the freedom to conduct business like a professional, using the same equipment and services to attract and serve busy customers. Others in your field who don't have a merchant account may lose clients to your company when you upgrade to the use of time-saving technology. Check out the advantages along with the responsibilities of opening a small business merchant account.

Best High Risk Merchant Services

Best High Risk Merchant Services[EXTRACT]A High-risk merchant account is a merchant account service provided to internet merchants that have been declared "high-risk" by Visa and MasterCard. This is owing to the nature of their businesses, that have a high credit rate or a high turnover but also, an increased risk of fraud and chargebacks.
Characteristically, it's very hard for high risk and non-US businesses to obtain a merchant account. High risk merchant accounts offered by different service providers allow International Merchants to privately process their credit card transactions and have the proceeds sent to an offshore bank account. The fees are higher for offshore/high risk credit card processing.
Credit card processors are likely to reject you if your business is considered high-risk. The aim is to locate a credit card processor that gets you approved and has you up and accepting credit cards quickly and efficiently, with either a high risk merchant account or an international merchant account.
Examples of high risk merchant accounts include pharmaceuticals, telemarketing, infomercials, travel industries, online dating, replica, gaming etc. Some of these are considered more high risk than others.
High risk merchant accounts are available with international banks. A merchant has to do the following to obtain a direct account if their merchant account is considered high risk:
1. Incorporated in the bank's jurisdictions (this requirement is based on credit card operating regulations) 2. Have 6 months of existing processing history (preferable the last 6 months) 3. Chargebacks in the last 6 months must be less than 1 %. 4. Pay the required set up fees 5. Provide principal's passport, business incorporation documents - some jurisdictions require a local nominee director's passport and a utility bill of the nominee director. This is done to avoid cross border issues. 6. The merchant website has to be in compliance to Visa and MasterCard requirements
These merchant accounts can also be classified as offshore high risk merchant accounts, international merchant accounts, and high volume merchant accounts.
The other option if you do not have processing history and you do not want pay the expensive of incorporation in the bank's jurisdiction, you can always get a third party merchant account. A third party merchant account's underwriting is less stringent and is set up much faster than a direct account.