Congratulations, you have not crossed over into the world of small business ownership, the only thing is you need a merchant account to start taking payments. Where would one even begin to find a good merchant provider when there seems to be a gazillion out there. Well, lucky for you we have narrowed down some key factors when trying to decide the best option for your business.
Is merchant account mandatory?
We uncovered the meaning of Merchant Accounts and Merchant Services in our last article Merchant Services 101: All You need to know. Now, we will use this time to uncover some feedback on why merchant accounts could potentially be a good fit for your needs.
It is no secret that we have entered the digital age. More Brick-and-Mortar locations are turning into hybrid models between storefront and online presence, while some larger companies are scaling back storefronts to go completely online.
Regardless of what your setup may look like having a good merchant account in place is vital for any business in today’s economy. Cash feels almost obsolete with consumers relying more heavily on credit cards for payment methods. One of the great benefits of having a merchant account is the extra layer of security that merchant providers have put in place to protect consumers and businesses from fraud.
Consumers can feel safe about swiping their payments because of the different safeguards used to help prevent fraudsters steal personal data. Layers of Protection by merchant providers can include two-factor authentication, tokenization, and built-in encryption. This can help both the business owner and consumer feel safe when it comes to receiving and making payments.
Merchant Account Features and Benefits
Besides the added layer of security, and the rise of digital payments another reason to consider using merchant accounts is the features and benefits that may come with their services. For example, some merchant accounts may be attached with hidden fees, contracts, or higher rates. While others may have something a little different.
Some merchant service providers may offer some great incentives on rates, free terminals, and other perks. For example, with 5 Star Processing, you can get all 3 offers with their new 5 Star Perks Program. 5 Star specifically designed this with the business owner at the forefront of their mind. The Perks program will unlock many great features and benefits including access to business credit building. It is always good to do a side-by-side comparison to see what other benefits merchant providers will offer other than competitive rates.
Ready to Get Started?
So, have we convinced you to sign up for a merchant account yet? If the answer is yes, then give our team a call today. Let us show you what 5 Star service is all about.
You can reach us at (888) 253-9692 or [email protected]. Our team will be happy to go over any questions about credit card processing. Also, we gave you a solution as quickly as possible.