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Industry News

With merchant account providers, choose wisely

By Joseph Trigliari

21/12/2009 - Not all merchant accounts are created equal - before choosing merchant account providers, businesses are encouraged to do their homework about their choice, said Kevin Hagen for Merchant Account Guide.

Hagen noted that there are two primary areas in which merchant account providers differ - payment processing capabilities and customer service.

With payment processing capabilities, some merchant account providers only allow merchants to accept certain kinds of credit cards or payment types. Merchants are advised to choose a merchant account provider that offers as many types of card processing as possible, to maximize potential sales.

In addition, the article noted that "[d]ifferent merchant accounts may provide different levels of customer service," and businesses should choose accordingly. For example, a company that has few in-house technology resources may want to choose a merchant account provider that offers more robust technical support.

The bottom line is that no matter the choice of merchant account provider, businesses should assess their needs and research providers accordingly, said the article. "By asking questions before you sign up for a merchant account, you can ensure that you have all the bases covered and are getting the service you need," Hagen wrote.

Though this may seem to be a significant investment, at least in terms of time, it will likely pay off for merchants - experts say it is more important than ever for merchants to offer electronic payment processing thanks to the growing shift to plastic payment methods.ADNFCR-2514-ID-19524506-ADNFCR

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