Basic checklist for identifying and setting up an Instant Credit Card Merchant Account

Credit Cards today have become the most preferred mode of payment for online and offline establishments. Consumers no longer hesitate in using their credit card to acquire their desired product or service.

Most retailers have also realized the volume of business that they stand to lose if they don’t accept credit cards.

If you are an Internet retailer or a home-based service provider, you cannot afford to not accept credit card payments. The first step to accept credit cards payments is to set up a credit card merchant account.

The process is simple and easy, but you need to evaluate the options and set up a service that best suits your needs.

Lets go through a quick checklist you must go through for setting up a merchant account credit card service.

  1. Rates: Scrutinize the rate, not only the one-time setup fee and discount rate, but also other fees like per transaction fee, programming charge and even customer service charge. You must pay special attention to the transaction fee as it affects every sale you make. The transaction fee sometimes differs for retail establishments compared to business that is done through mail order or Internet. So take into consideration the fees that are relevant for your type of business.Also watch out for monthly statement charges and shipping and handling fees.


  2. Customer Support: Evaluate the kind of customer support that is offered. Is it robust enough to help you service your customers better? Find out if the service is offered 24/7, if not then do the hours when support is available match your working hours? Find out. 
  3. Settlement: When do you get your money? Is the difference affecting your cash flow? Ask these questions before you choose a merchant account. The time taken for the settlement can really take its toll on your business. 
  4. Procedures: Understand the operational procedures correctly. Different cards like Visa, MasterCard and American Express will have different procedures, learn them correctly and ask your merchant account provider for any documented help.Evaluate everything, read the terms and conditions carefully and match the services offered with your business’s needs and setup your merchant account instantly.
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