Small enterprise merchant accounts demand a particular effort to apply for and set up and then they have a certain maintenance cost, in the form of a monthly statement fee and, in some cases, other credit card payment processing fees and charges. Moreover, merchant services credit card processing contracts are normally for two or 3 years. So it is a legitimate question to ask what rewards you get from your credit card processing service and is it worth the investment of time to set one up.
Nicely, the answer is that yes, it is worth it and you really should think about establishing 1 as soon as your processing volumes grow big sufficient to justify it. By that I mean that there is a break even point, various for every single enterprise, beyond which the lower processing rates, associated with creditcard processing accounts, totally offset the fixed monthly fees, which are absent with third party solutions. The principal benefits of having your quite own retail, direct marketing and advertising or PC based credit card processing are:
- Professional image. Each and every sort of processing capabilities, which includes manual credit card processing is perceived as a sign that the business is of a specific size and it is committed to providing a complete shopping service. In fact, taking into account the strict requirements that credit card processing firms demand that applicants meet, it is accurate that a merchant card processing account comes with a certain level of commitment.
- Lower processing cost. The distinction in processing rates that a direct merchant account provides over a third party credit card merchant processor is considerable and can’t be overstated. A comparison between an eCommerce merchant account and PayPal shows that the difference can be as high as .8% + $.05 per transaction for merchants that process less than $3,000 per month.
- Control over your account. With a third party answer, your processor has a total control over your card payment processing activity. They can hold on to your funds and even freeze your account if a suspicious activity is thought to have occurred. The direct solution gives you complete control over your account. CVV and address verification fraud prevention services assist you decide no matter whether or not a transaction is legitimate.
