Do You Really Need a Merchant Account?

If you sell any product or service and if you want your business to flourish, a merchant account is practically mandatory. But what exactly is a merchant account?

It is a type of banking account that allows businesses to accept predominantly debit and credit card payments. A merchant account opened is under an agreement between a merchant and a merchant acquiring bank for the settlement of payment transactions.

Sound a bit complicated? Don’t worry, it’s actually simple and easy to get started.  And your merchant account service provider can explain all the details, answer any questions you may have, and consult with you to find out what the best solutions are for your business.

But that still doesn’t explain why you really need a merchant account

Some customers won’t pay cash for their purchases, and unless you accept card payments, your business is likely to suffer: it’s just that simple. The world of purchases and payments is evolving and so are your customers, so if you want your business to succeed it’s crucial to give your customers different payment options.

Having a merchant account offers you many additional benefits as well. If you are still accepting check payments, you must be living with the risk and stress of bad checks every day. Once your card payment system is up and running, you can put all of that behind you. In addition to eliminating the risk of bad checks, having a merchant account also eliminates the risks associated with having large amounts of cash on your business premises or on your person.

And these aren’t the only benefits of having a merchant account.

By partnering with a merchant account services provider you can have your accounting system integrated with your point of sale payments, so accounting is processed right as payments are made. This eliminates manual processing and is a massive time-saver, plus there is no room for human error. And payment integration into your accounting system means that you can manage your business better because your cash flow information is always up to date.

Some merchant account service providers also offer eCheck processing services. eCheck processing services are similar to electronic transfers, but the ‘check’ is not a regular paper check, it is an electronic transaction, allowing you to take checks over the phone, online, or by fax.

But why do you need a merchant account?

Because you want to:

  • Accept card payments and increase sales
  • Eliminate the risk of bad debts: card payments are approved or declined in real-time
  • Select card payment options available that suit your individual business needs
  • Integrate your point of sale card payments with your accounting system
  • Better manage your business cash-flow
  • Opt for eCheck processing services so that you can initiate payment with your customers’ approval

Bring your business back into real-time, give your customers the payment options they want, grow your sales and reduce your risks by signing up for a merchant account right away.

For more information about why you need a merchant account, or to open a merchant account, please call (888) 924-2743 or go to


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