Merchant account services (which provides companies with debit and credit card payment processing capabilities) have been touted as one of the best business-related developments to have happened in recent years.
Coupled with a good e-commerce website, merchant e commerce accounting services allow you to expand your customer base to include clients, not within easy reach of your store.
With these services, processing payments from customers located halfway around the globe becomes a hassle-free and profitable task.
The question now is, how exactly can they affect your business? Can your small online store benefit from a credit card merchant account as much as big companies do? Should you sign up for one too?
To help you answer these questions, here is a list of some of the different benefits having your merchant account service provides:
It makes purchasing from your store a viable option for customers who prefer to use credit cards instead of cash. By having merchant account capabilities, you attract and encourage customers who would rather do business using "plastics" than cash.
And, if the ATM and Debit News EFT Data Book is to be believed, more and more people are using their credit cards to purchase products and services. According to the study conducted, in 2007 alone, about 27.2 million credit card transactions will be made.
Having your merchant account is convenient for your customers. Many customers consider paying online or with credit cards instead of cash to be a more convenient way of doing business.
Simply put, when you give them the option of paying with a credit card, you, therefore, offer them additional options, and make them happy. And happy customers mean only one thing: better profits.