What is merchant account processing?
Merchant account processing services are provided by a bank or a third party processor (on behalf of the bank) to the merchant. These services include authorization of credit cards, settlement of funds through the bankcard associations (MasterCard and Visa), depositing of funds to checking accounts, merchant billing, and account activity reporting. How to Qualify The most important question that providers want to answer is whether your business is likely to have a high incidence of fraud or chargebacks. A chargeback is a reversal against a sale that was credited to the merchant’s account. Chargebacks are usually the result of an error made by the cardholder’s bank, a misunderstanding by the customer, or fraud. The merchant must provide proof that the goods and services in question were provided to the customer. For the most part, tangible products are considered to be much safer than services. Also, offerings that deliver purchased goods immediately in exchange for payment are viewed a
Merchant account processing services are provided by a bank or a third party processor to the merchant. These services include authorization of credit cards, settlement of funds through the bankcard associations (MasterCard, Visa, etc.), depositing of funds to checking accounts, merchant billing, and account activity reporting. Q: How do I get a merchant account? A: The first step is to establish an offshore corporation. Next, you will need to establish a bank account for your corporation. Finally, the merchant account is established through one of our correspondent merchant processors. The application process is relatively simple, and just requires that you complete with the necessary documentation. Q: What credit card types can I accept? A: Through our recommended merchant processors, you will automatically be set up to accept Visa and MasterCard. Q: How long does the application approval process take? A: You can start accepting credit cards immediately after the application is accep
