If you want to accept credit and debit cards from your customers, you will need a merchant account.

It is as simple as this.

Imagine you have just started a business and you finally got that first customer

that will definitely use your services or purchase the product. 

You made the deal, you signed the contract (if necessary), and the paying time has come. 

But being a rookie can entail certain difficulties. 

The overwhelming feeling of selling your first goods,

has made you forget to ask how the customer would like to process its buying. 

Before you know it the customer has already pulled out its credit/debit card 

and happily awaits to finish the paying process.

Instead, he or she got rejected because your business 

doesn’t have an option of processing card payments. 

So, it’s obvious that credit, nor debit cards can’t process by themselves. 

That’s why the merchant account is necessary.

What’s a merchant account 

and does my business really need one 

in order to process electronic payments?

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A merchant account represents a middleman between your bank account

and your client’s bank account in order to process card payments. 

When the sale is made, the merchant account works in the background 

in order to withdraw funds from the customer’s bank and transfer them 

into your business’s checking account. 

By setting up a merchant account with a payment processor 

you can start accepting card payments and transactions.

Another necessary thing when opening a merchant account is to own hardware. 

This is usually available to purchase from your credit card processing partner. 

Sometimes, even the payment processor may even provide you with a free credit card reader when you first start out.

If you are running a business, online or in-store, you will most likely need the merchant account.

And here’s why. 

Living in the 21st century it’s not unusual to see people paying with their cards. 

Actually, it is more common than paying it with a form of cash. 

If you are in a dilemma about whether your business needs a merchant account 

in order to process electronic payments, the answer is yes.

It is absolutely the best way to process card payments. 

If, on the other hand, you refuse to set up a merchant account, 

there are complications you will have to deal with regarding your business. 

Not only that you can upset your customers, 

but you will most likely lose potential buyers due to a lack of accepting card payments. 

This can even lead up to ultimately losing your business,

 which is the main thing to avoid in the first place.

The bottom line is that you need to understand why you are in need of a merchant account and how that can benefit your business. 

With this in mind, it’s ultimately your choice whether you will set up a merchant account, or rather skip this important step in the business running process. 

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