How to setup a Merchant Account?
Qualifying for a merchant account can vary depending on the status of your small business and the industry. Credit card processing companies look into the credit ratings of the small business as well as those of the owners and executives before qualifying the merchant account credit card processing application. Merchant account credit card processing companies are wary of small businesses that have a high number of “chargebacks,” which are instances in which a transaction is reversed for some reason. Businesses that sell products are considered more desirable than those providing services. In addition, credit card processing companies prefer small businesses that employ a credit card terminal, also called card machine, where cards are swiped and a physical signature is obtained to credit card transactions via phone or Internet. Operating under less preferred models does not deny your merchant account credit card processing application, but it may warrant higher fees. Additional Things
