A merchant account service provides their clients with all of the tools and technologies for them to accept credit card and electronic check payments. They usually provide all of the equipment for free, when their clients set up their accounts. They then charge a transaction fee that is usually a small percentage of the sales. This is variable depending on which the provider is, but it is usually in the range of 1% to 2%. This commission may be levied in conjunction with a set fee that is charged for every transaction.

Transaction Fees

Businesses can receive numerous benefits when they choose to open an account with a merchant account service. The transaction fee that is charged varies with the particular provider, but it is usually no more than 2%. They also provide a way for their clients to increase their revenue streams, as they provide all of the tools and technology for their customers to accept most of the major credit cards.

Approval and Applications

Many of these providers ensure that their application and approval process is easily accomplished. Businesses only need to fill out a simple questionnaire that should only take about five minutes. These can easily (more…)