by: Dane Collins

A card merchant account can put your business on the road to
financial success. If your company is not yet accepting credit card
payments, you are missing out on the powerful potential of this
income stream. Many business owners who started taking credit card
payments claim that their income has doubled while overhead costs
have diminished. When you become eligible to receive credit card
payments, you are likely to experience an increase in sales volume
and chase fewer dud checks. To facilitate credit card payment,
however, you will need to apply for a merchant account.

Start by finding a lender you can trust. This may be a bank you
already work with, one that perhaps got your business started or
helped it to grow to where it is today. If so, there is a good
chance that the lender will continue working with you in this key
operative. But if you do not have such a lender or if the one you do
have does not seem eager or suitable for underwriting your merchant
account, you will have to find another reputable bank, credit union,
or other financial institution to facilitate this account.

Your card merchant account can make or break your company, so it is
wise to spend time finding the best possible lender for this
purpose. Don’t just grab the first deal to come along. Take time to
shop the many available offers and compare terms before making a
decision. All too often a new or small business owner will be
dazzled by the array of benefits that suddenly become available
through a merchant services card. Then, after implementing this
account, expenses mount while income remains stable or falls and the
company can experience a shortfall. Approximately 80% of small
companies close their doors within two years. Don’t become a
casualty of this predictor. If you are approved for a merchant
account, use it according to your business plan or company budget.
Avoid investing large amounts into questionable activities. Start
small by purchasing or leasing a basic credit card processor for
your physical location. Or get a wireless unit for deliveries or
remote destinations. You don’t have to spend thousands of dollars to
get started. Go it one step at a time until you see how your
customers respond and what your potential growth is shaping up to
be. At that point you can always add more services, like an e-check
processor or a pager, if you find they are truly needed for
continued growth.

After getting approval for your card merchant account, you usually
can start accepting credit payments immediately. Make sure you
understand the terms of your account, which often boils down to a
per-transaction rate of perhaps 20 to 25 cents. Or you may be able
to opt for a low-interest monthly fee that may or may not impose
certain minimums. In other words, you will be charged a baseline
amount for up to perhaps 1,000 credit transactions. If your company
does not get that many, you still have to pay the baseline fee, but
you will not have to pay more, even if you get 2,000 or 3,000 credit
card transactions, although this can vary from one lender to
another. Check with local or online lenders for more details on
applying for a card merchant account.

About the author:
Dane Collins is with Merchant Digital
http://www.merchantdigital.coma nationally recognized merchant
account provider. Start accepting credit cards today:
http://www.merchantdigital.com