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Fair and Unbiassed Reviews on Credit Card Processing

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Merchant Account What Are They?

A merchant account is a special type of account issued by a credit card issuer to facilitate business transactions.

These accounts help merchants to concentrate on their core business activity without having to worry about credit card handling, receipts and transfers. Third party credit card processing companies also offer these services at a rate that is marginally lower than the credit card companies. Besides handling credit card transfers, they take care of sales, customer service and underwriting risks. The credit card companies who sell their service to these third party companies do the actual work.

These credit card processing companies provide innumerable benefits to their clients. Besides handling credit card transactions and low rates they offer customized services for businesses looking for reliability and efficiency.

Types of Merchant Accounts

Credit card processors provide customized services depending upon your type of business. Basically there are two types of merchant accounts: retain and ecommerce. The risks associated with these accounts vary. For example, the risk associated with e-commerce and mail order business is more compared to, say, retail. Accordingly, merchant accounts charge more for riskier business models to spread the risk. Merchant accounts also provide more information about the merchant and the transactions. For example, for lodging services, credit car processors provide detailed information about the lodging, locale, check in time and, of course, room service.

Credit cards you can accept

Once you have created your merchant account, you can add the credit card of your choice. Generally, most credit card processors accept Visa and MasterCard. Other cards can also be added, however they will come with an extra fee along with separate transaction cost. Some credit card processors waive off the sign up fees for adding American Express and Discover. However, there are others who charge a small fee. Both these options come with a transaction fee that is slightly higher than that carried by Visa and MasterCard. Some cards do not process international transactions. Before signing, make sure that your card accepts international payments if much of your business come from abroad.

Merchant Account

Dharma Merchant Services was to create a company that always treated its customers with honesty, fairness and a great deal of respect, an A rating from the Better Business Bureau, and with competitive rates for merchant accounts and credit card equipment.