Finding the best merchant account can be very frustrating for busy business owners in today's hectic marketplace. Business owners become overwhelmed with trying to find a merchant account provider who can provide them a low rate. These low rate offers can be a smoke screen to hide other fees that off-set any savings and cost a merchant more in the long run. Business owners must look at the entire offer, to make a sound decision. Understanding key elements of the merchant North American Bancard Sales Partner account agreement will give the business owner a greater advantage when negotiating with merchant account providers and seal a great deal for there business.
Now, we will breakdown the key elements of a merchant account agreement.
Blended Rates: - Blended rates combine both "Credit Card" and "Signature Debit Cards", into a single "Qualified Rate". The industry standard is between 1.69% and 1.84%. Beware of teaser rates where you are quoted a rate, then next month they raise your rate to be closer to the industry norms.This rate structure is the standard for most merchant accounts.
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Finding the Best Merchant Account
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Posted 05 October 2022 - 06:21 AM
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