Merchant Account: Take Your Pick

When it comes to credit card processing, not all merchant accounts are created equal. Before you sign on with a merchant services provider like Merchant Express®, it’s important to go over with them your specific credit card processing requirements to ensure that you get the merchant account best suited to your needs.

The most common and traditional merchant account is for POS (point of sale) retail. This merchant account enables you to handle face-to-face retail credit and debit card transactions.  These are among the least risky transactions because both the customer and their payment card are physically present, reducing the risk of fraud. Consequently, a POS retail merchant account carries some of the lowest processing fees.

Mobile credit card processing requires a separate merchant account. Once you establish this account with Merchant Express, you can begin processing with PayFox™ by downloading a free app from the iTunes App Store to your iPhone; PayFox also works with iTouch and iPad with available WiFi. The app turns your mobile device into a credit card terminal that can accept major credit cards and signature debit cards wherever you need to go to make a sale. You can also manage refunds and voids through your device and email receipts to your customers.

Another high-tech credit card processing option for mobile merchants is to go wireless. Wireless credit card terminals are compact, lightweight and can accept cards wherever you do business, even at outdoor venues where credit card processing used to be impossible. Wireless processing provides the same access to credit card authorization networks as you’d get in a traditional storefront plus the mobility to pursue sales beyond four walls. Update your wireless capabilities with Transaction Express^™— Merchant Express’s web-based centralized payment processing system — to transform your business into a 100% mobile operation.

Merchants who process a low volume of card-not-present (CNP) transactions may want to consider phone credit card processing. This service inexpensively transforms a touchtone phone into a credit card machine that handles MasterCard®, Visa®, Discover® and American Express® without special equipment or software. Phone processing is a cost-effective solution for MOTO (mail order/telephone order) merchants and other businesses that want to keep their equipment to a minimum. And, like other credit card processing solutions, it’s available 24/7/365, meaning you’ll never have down time to worry about.

These are some of the most common merchant accounts available. If your business falls neatly into one of these categories, the choice is simple. If you run a more diversified operation that involves credit card processing in more than one setting, you will probably need more than one merchant account to meet your needs.

Sorting out your merchant account options is easier with an experienced and reputable merchant services provider like Merchant Express. We have invested more than 15 years in the payment processing industry, so we have the knowledge necessary to help you make an intelligent, workable decision about credit card processing. Analyze your needs, and then call us to help make the right choice for your business and your budget.