Reasons to Open Merchant Account for Your Online Replica Store
If you own an online replica store, you definitely want to have more clients and thus generate more sales. For this, you must be able to quickly process their online payments. You most likely want your store appear secure and professional for online shoppers, otherwise they wonâ€™t be confident enough to trust you.
If you are an online replica store-owner, and as the majority of other merchants want to run a profitable business, you need to open an online merchant account. There are a lot of reasons to set up a merchant account:
- By using professional looking online payment solution, you will attract more clients and thus will increase your base of return customers.
- You will get an opportunity to accept major credit cards as MasterCard, Visa, Amex, as well as Discover payments on a secure connection right from your storeâ€™s web-page. You customers will feel secure when buying from you!
- If you need to process credit cards manually, you can rent special terminal. The rental fee is usually included in the monthly membership fee and thus, you can save lots of money. Such terminals can help with both offline and online businesses.
- All online payments will be transferred to your account by wire quickly and safely.
- Special software will enable you set up shopping carts and price lists on your web-page.
-Transaction reporting and statements will make your bookkeeping management much easier.
-Low fees. An online merchant account has much lower fees if compared to other services as PayPal. Affordable rates will give you an opportunity to have greater profit margin. Though some providers take monthly fees, the low transaction costs and high-quality services will make the fees petty in contrast to PayPal.
-Fraud screening protection. Very often, online storeowners become victims of chargeback and credit card fraud, where a buyer purchases something from an online store and then claims fraud, as a result of which a merchant loses money and the provided product. Fraud screening services you will get with opening an online merchant account, will help you avoid such problems. The fee for this service is usually included in the cost of having an account.
-24/7 support. In case of any payment getaway problems you can contact 24/7 support service. If you own an open source program, you are unlikely to get any help, thus owning a merchant account could be a better alternative, especially if you want to have a borderless business with a greater number of buyers making purchases in different time zones.
- Borderless Business. By opening an online merchant account, you will get an opportunity to accept payments in various currencies. This opportunity can extend your ability to service more buyers all around the world.
How to open an online merchant account?
Choosing the right merchant account is very important for your business. There are a great number of merchant service providers, so you must be very selective and picky when it comes to choosing a merchant service provider for your replica store. To make the right choice take some time to make an online research. Be sure to choose fees and services that satisfy your business needs the most. Once you have found someone suitable, you will have to fill out an application form and provide certain documents, as banking information, copies of your photo ID, financial statement and signed merchant agreement.
If you want to make the application process easier and get quick approval, consider applying to a private merchant account service provider as banks usually have more demand to their potential clients.
Once you get approved, you can open your own merchant account. Merchant account software will be quickly set up and will easily integrate into website.