Merchant Accounts

A merchant account is a relationship between you, a processor, and a bank that allows you to accept credit cards for your business or organization. When you first step into the merchant processing world, things may seem pretty confusing. That is why we have setup this website to help guide you through this sometimes confusing process. So whether your trying to figure out how this whole merchant account thing works or your just shopping around for some good rates, you have come to the right place.

 Anyone who wishes to accept credit card payments for either their business, their church or other organization needs to setup a merchant account with what is called a merchant service provider. This provider will setup your relationship with an acquiring bank and handle everything that is involved. Often time, merchants choose to get an account directly with their bank. However, we recommend you go through a dedicated merchant services provider. Most banks are not really in the merchant services business, but just offer the services as a courtesy to their clients. A merchant service provider will be much more knowledgeable and can answer all of your questions. An additional benefit to going through a MSP is that on most occasions, your rates will be lower than what a bank will offer.

 The first step in obtaining a merchant account is deciding what type of business will you run. Will you be running a business from your store, a online website or are you a traveling business such as a dog grooming service or door to door salesman? If you run a business from a store location, you will need a retail merchant account. These accounts are generally the cheapest as far as rates go do to the lack of risk involved. If you plan on opening up your own website and selling your products or services online, you will need what is called an internet merchant account. These accounts are usually have slightly higher rates and in most cases require a payment gateway. Don't let this confuse you too much. Most internet service providers bundle the merchant account and payment gateway together. And finally for you mobile business out their, a wireless merchant account may be right for you. These are very similar to retail merchant accounts however they use a credit card machine that uses cell phone towers to transmit the credit card information back to the banks as oppose to traditional credit card machines which plug into your phone line or broadband internet connection.

 Their are literally thousands of merchant service providers out their all fighting for your business. To help you out a little, We have compiled our top picks whcih we reccomend you set up your account with. To find a merchant service provider or MSP, simply decide what type of account you will need and find our MSP list under each section to the left. We hope this website will be benneficial in education you to the merchant services industry. If you have any quaestiona and would like an unbiased answer, please dont hesitate to contact us.