Most small business owners find themselves in a Catch 22 situation because on one hand, they need to increase the customer base, but on the other hand, they cannot hire enough employees to service these new customers.
Small business merchant accounts can help the small business owner to over come this dilemma. Small business merchant accounts allow the business owner to accept payments from customers in various modes such as credit cards, checks, and other electronic mediums. Electronic check processing and credit card payment processing are some of the more popular payment methods today. Payment gateways that come with a small business North American Bancard ISO Program merchant account allow the instant processing of purchases, and this rapid processing allows the merchant to handle many more transactions more quickly.
As the payment process is made simpler and safer, more customers return for repeat purchases, and the business owner does not have to hire any new employees and save time on needless paperwork. The prompt handling of purchases contributes to efficiency in a business, and being able to accept all forms of payment--from personal checks to major credit cards--can increase sales up to 40%, according to studies by the industry. All this results in increased sales volume of the business. Therefore, a small business merchant account can make the difference between survival and failure at the crucial start-up phase of a business.
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What a High Risk Merchant Account Can Offer
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Posted 20 October 2022 - 10:48 AM
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