Learn why small businesses switch to merchant accounts.

Electronic payment concept
Electronic payment concept

Online credit card processing is extremely vulnerable to hacking and security risks, so businesses must pay close attention to the security of the payment processors they use. Customers trust your business to safely transmit financial information over the Web to pay for the products and services they need. It’s up to you, the business owner, to be sure that your customer’s information remains secure.

Credit Card Processing Vs. Merchant Accounts

Why wouldn’t everyone use PayPal? Its terms are simple to understand, its rates are reasonable and it comes with customer service at virtually no cost. It turns out that there are a variety of reasons why businesses large and small graduate from credit card processing services and into a merchant account. Payment processing is only one side of the coin, but it’s not the most important part.

When you pay for a merchant account as a business owner, you’re paying for an account tailor made for your business. You can accept credit card payments in nearly any form you choose, and you’ll have greater freedom to process returns and refunds using your own policies. You’ll have faster access to your money, without relying on whether your payment processor’s card or virtual wallet is accepted at a retailer.

You also get all the in-store components you need to make sure your shop workers can process payments in store. All of the infrastructure is controlled by your business, you’re more or less leasing the opportunity from a provider. This provides you with flexibility related to how your print returns, how you process payments, and what you pay for that ability.