Businesses both large and small once had to rely on conventional credit card swipe machines to conduct their transactions. Since the popularization of virtual currency and the explosion of online purchasing, these machines have gradually become less and less relied upon. Economists agree that a higher level of online purchases can be expected from now on.
This means that an internet merchant account is more important now than ever for businesses of any size. These are three of the reasons why obtaining a merchant account can benefit any online business.
1. Accept customers’ cards
By far the most important feature of an internet merchant account is the ability to accept customers’ credit and debit cards at an online store. The merchant account provider can offer software and hardware infrastructure to allow a business to process these payments.
The ability to accept cards securely is a huge boost to profitability and credibility in the 21st century. The ability to conduct these encrypted transactions is just one of the services they offer to businesses that use an internet merchant account.
2. Offer diverse payments
Along with credit and debit cards, some internet merchant account providers also allow businesses to offer payment options to customers that credit card swipe machines can’t. These can include eChecks, ACH transfers, cryptocurrency, and other forms of electronic currency.
Practically all businesses can benefit from offering diverse payment methods. When a customer comes along who wants to buy a product or service, the business has no way of knowing what forms of payment the customer is able to use. One customer may be over the limit on their credit card account but have money in their checking account, while another may have the ability to pay by credit card but no cash in their account at the moment. Businesses shouldn’t try to “cut the foot to fit the shoe” by forcing customers to pay using the method the business prefers instead of the method the customer prefers. If a customer wants to pay you, then, for goodness sake, let them!
3. Have the latest hardware and software
By updating, business’s can simplify managing inventory, payment systems, and deliveries. An internet merchant account provider can also offer mobile-optimized card payment services for businesses that make house calls of do business on the road. Some merchant account providers also offer premiums like free shopping cart software that can upgrade any website that lacks this feature.
These 3 reasons, among others, make getting an internet merchant account a wise investment. Visit Charge.com or call them at (888) 924-2743 to view internet merchant account services that will take any business to the next level.