Merchant account providers will consider the type of credit card transactions your company will perform when setting your rates. Generally, card-present transactions that obtain signatures in person are considered much safer than card-absent transactions that take place by phone, by mail, or over the Internet, so they carry a lower per-transaction fee.
Merchant account providers charge a small percentage of each transaction based on your average sales, total charge volume, and other factors. There is also a per-transaction fee.
What is your current or projected monthly credit card volume? [?]
Do you want information on credit card terminals? [?]
Low-volume customers may be charged a monthly minimum fee. If you only charge a few thousand dollars each month, look for solutions with lower setup and monthly fees. For larger credit card volumes, focus on getting the best discount rate and per-transaction cost.
Most providers will offer you terminals at a relatively good price. Terminals require a printer that can be built-in or offered as a separate unit.
It takes about one to three business days to process your merchant account application. If you are approved, most merchant account providers can have you accepting credit cards by the next business day. Tack on an additional five to seven business days if you need a credit card terminal as well. If you require an Internet merchant account, your setup time can range from one day to one month or longer depending on the detail of information you provide on the application.
Wireless credit card terminals provide a significant advantage for businesses like taxi companies, seasonal businesses with temporary locations, and large lot businesses. However, for most businesses, the wires pose no problem since they never leave the counter.
What is your office ZIP code? [?]
What is your e-mail address? [?]
Please describe your products or services, as well as any additional credit card processing requirements you may have. [?]
NOTE: This form is for U.S. businesses.
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Have you had difficulty securing a merchant account before? What level of customer service do you need? How will you deal with credit card chargebacks? How many transactions will you conduct each month? Do you need a secure method for accepting credit cards online?
