What is a Merchant Account and why do I need one?

Do you have a new or existing business? Then you need a merchant account. Merchant accounts enable you to process credit card payments from your customers. It's a special account tied to a credit card processor that works with your customer's bank to help route payments into your bank account. It's quick and easy and can drive your sales to levels you never dreamed about.

Your business will be able to accept credit cards and that not only makes it easy for you, it makes it easy for your customers - and making purchasing easy is a necessity in business. If making a purchase is too difficult or demanding, the customer will not make the purchase. That's something you want to avoid. You don't want to lose a customer simply because you couldn't accept credit cards. That's where the merchant account can save you. You easily make the sale and hopefully build a lasting relationship with the customer.

Another reason to have a merchant account is ECC or electronic check conversions. Banks can enter into agreements with merchants that allow merchants to capture check images at the point of sale and begin the electronic clearing process before those checks enter the inter-bank collection stream. Conversions are an excellent way to ensure that funds will come directly to your business.

It is proven that sales are higher for businesses with merchant accounts than for businesses without. In an age where plastic and checks are replacing cash, merchant accounts are necessary. It is almost unheard of to walk into any business and they don't accept credit cards. If a business doesn't, the customer is most likely going to walk out. That's something a business never wants to happen. A merchant account will keep the customer coming back.

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