Merchant Account Transactions
Merchant Accounts and Transactions
Is having a merchant account the best way to accept online transactions?
We definitely recommend using a merchant account provider that can process online as well as in the retail arena. We have had many unsuccessful stories of processors who offer a quick online solution with incredible high rates. Do some cost comparisons and use your best discretion when it comes to online merchant accounts. There are many virtual terminal set-ups out there that allow for quick and easy installations to get you started on accepting major credit cards and checks as well.
The type of business that you conduct determines the type of merchant account needed. If you run a brick and mortar establishment, you must have a merchant account that accepts point of sale (POS) transactions (the customer 'swipes' a credit card at the time of purchase). If you have a mail order or telephone order business, you will need a MOTO (Mail Order/Telephone Order) merchant account. A MOTO account is also used for e-commerce businesses that want to accept credit card payments.
Merchant Account Questions
Below are some of the most important questions and answers on how to prepare
yourself for the world of merchant accounts and credit card processing.
What are some important questions to ask before signing up for a merchant account?
What is an explanation of a merchant account?
How much do I have to pay for a merchant account cost?
Why should I consider Fasttransact for my merchant account?
How many merchant accounts can someone have?
Is having a merchant account the best way to accept online transactions or should I use a PC?
How long does the merchant account approval process take?
Do you accept non-U.S. merchants?
Do you have any hidden fees for merchant accounts?
How fast can you set up my merchant account to accept credit cards?
Do you decline any merchant account applications or online processing applications?
Can I process for more than one business with my merchant account?
Do I have to be a U.S. citizen to open a merchant account?
What if I want to open a Canadian merchant account?
What are your fees and costs for merchant account processing?
What are the underwriting requirements to open a merchant account?
What kinds of typical startup costs can I expect in obtaining a merchant account?
I already have a retail merchant account, can I use this for internet processing?
Are there merchant application fees involved?
How do I apply for a merchant account?
How long will it take for my merchant application to be processed?
What if my merchant application is not approved?
Can you describe the merchant application process?
Does Fasttransact require a contract or is it month to month?
Will you charge me for a second merchant account?