3 Reasons Businesses Need Online Merchant Accounts

The 2020 coronavirus lockdown accelerated a process that was already happening in modern business transactions to replace credit card swiping machines with online merchant accounts. Financial experts agree that this process is likely permanent, now that customers have come to expect online payment options. The natural evolution of payment services will continue to favor online and mobile-optimized payment methods over conventional swiping machines. This is why online merchant accounts will continue to be more important for both small businesses and large businesses.

Diverse payment methods

Catering to a business’s full range of potential customers now requires a diverse range of available payment methods to purchase products and services. This includes not only debit cards and credit cards but ACH payments, eChecks, and other forms of eCommerce payments.

A business’s ability to offer these forms of payment depends on their online merchant account provider. The merchant account provider offers products and services for businesses to conduct these transactions with customers. These services include the software and hardware necessary to process them securely.

Even (and especially) for brick and mortar stores, businesses should offer as many payment methods as possible so that the customers that do come in can pay for their merchandise. Online stores should provide multiple card and eCommerce payment options so that more customers will be able to pay in the store using the method that works for them.

Security features

Fraud and identity theft are a real threat. A lack of security features can make a business non-compliant of payment card industry (PCI) regulations incurring fines and potential liability for unsafe transactions. That’s just one reason why it’s important to be sure the internet merchant account provider offers safety features that businesses need to stay afloat.

Software options can include firewalls and other protection services, as well as PCI-compliant encrypted transactions through the payment processor. Businesses need their customers’ trust. For that, it’s necessary to think beyond swipe machines and shop for an online merchant account.


Even if a business already has the tech they need to conduct transactions in a physical store, an online merchant account can upgrade software and hardware into the 21st century. Swipe machines in stores can be upgraded for portability, to accept diverse payment methods, or even to help with inventory management. The right online merchant account provider can offer these services.

The Takeaway

An online merchant account is an important investment. In order to survive, companies must offer the option to accept payments online, and should provide security features that keep their customers safe.

Visit charge.com or call (888) 924-2743 to view options for online merchant accounts and swipe machines for any sized business.

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