Nowadays accepting credit cards is a must for any business and there is a wide variety of payment solutions available to merchants. Accepting credit cards is easier than ever and can bring a lot of benefits to your business line and dramatically increase your sales.
In this article we will talk about direct merchant account and will present its cons for your business development. This type of account can be provided to the reliable merchants with good financial and credit standing and it has some requirements and criteria that not all merchants can fulfill.
Direct merchant or dedicated merchant account is merchant’ s exclusive and fully controlled account, not shared with other merchants.
What are the benefits that direct merchant can give?
- Full control of all transactions
You will have a possibility to check all the money coming in and to manage the entire process, credit card refunds, disputes and chargebacks;
- Increase of your sales volumes
Experts say that customers tend to place more confidence in companies that have their own merchant account, so accepting credit cards allows a business to convert more store visitors into buyers;
- Speed in receiving payments
Having your own merchant account will allow you to receive funds transferred directly into your checking account within only one to two business days;
- Lower transaction fees
If your business is producing a high transaction volume monthly a merchant account is a great choice for you which will save your money;
- Your own billing descriptor
Every merchant account has the DBA name (stands for “Doing Business As”) and personal number. The name of your business will be stated on your customers’ bills and this fact can lower your chargeback percentage as the customers can recognize the company name and the charge;
- Operational customer support
Most merchant accounts charge a service fee, in return for which you can expect prompt service and technical support anytime.
- Possibility to accept major credit cards, debit cards and alternative payment forms and all major currencies from the countries of your choice;
- Use powerful back office with multiple tools and detailed reports to grow your business;
- Large choice of reputable acquiring banks to suit your specific business line and market;
And these numerous benefits are just the beginning. If you are running a successful online shop, your own merchant account will not only save you money but provide you with flexibility and high-level customer management. You’ll be able to take your business to the next level of success!