Services
Merchant Acounts
Boost Your Sales by Accepting Credit Card payments!
Accepting non-cash payments is becoming an industry standard for entrepreneurs and small businesses. The application and
process is easy with our express 3-step online application.
Probably the most difficult part of accepting credit cards is deciding what type of merchant account you need. Here are
some simple descriptions of each type of merchant account, how it is used and approximate cost involved.
What type of merchant account do I need?
- The average American cardholder goes shopping with roughly four major bank credit and debit cards.
- Credit card purchase volume has an increase of about 15% per year for the last five years, or three times faster than the increase in overall American purchases.
- As of 2005 credit cards provide 19% of all U.S. purchases, debit cards for 33%, and checks for only 11%.
- According to The New York Times, businesses forfeit up to 80%of customer impulse buys if they don't accept major bank cards such as Visa®, MasterCard®, Discover® and Debit.
Global Payments
The Challenge
In today’s global economy, consumers can easily purchase goods and services from U.S.-based
merchants whether they are in Paris, Texas, or Paris,
France. Unfortunately, when shopping at a U.S.
merchant’s Web site, typically, the consumer’s only
option is to complete the transaction in U.S. dollars,
often resulting in currency conversion fees and a less than-stellar customer experience.
International consumers often feel more comfortable
completing their online transactions in their “home”
currency and, when they feel more comfortable, they
purchase more. Therefore, U.S.-based eCommerce
merchants want to provide their international
customers an “in country” shopping experience, but still
receive funding for these transactions in U.S. dollars.
The Solution
The Global ePricing product is an innovative solution
that helps to meet the needs of both the merchant
and consumer. This solution is designed for the cardnot-
present merchant who wants to open new markets
or provide enhanced services to their customers by
offering goods and services in one or more foreign
currencies, accept payment in those same urrencies,
but ultimately receive funding in U.S. dollars. It meets
the needs of the merchant’s international consumers
who want an “in-country” shopping experience where
products and services are displayed and sold in their“home” currency also improving the on-line shopping experience. Additionally, when a consumer agrees to
pay in their credit card billing currency, they will likely
avoid any conversion fees from the issuer.