Nevada State Corporate Network Explains Merchant Accounts

It should come as no surprise that electronic transactions have become the most widely used method to pay for goods and services in the fast paced, digital world that we live in.  It is absolutely essential that merchants be able to accept credit and debit cards if they want to stay in business and having a merchant account makes that possible.   

Merchant accounts are simply banking accounts that are opened in the name of a business as a way to accept debit and credit card payments for products and services.  A merchant account will also allow your business to accept electronic checks, money orders, paper checks and traveler's checks. Certain devices are now available that make it possible for you to turn your tablet or smart phone into a portable cash register. 

As most customers tend to use their debit or credit cards to make purchases over the internet, today’s businesses must be able to keep pace. At Nevada State Corporate Network, we can help you set up and maintain a merchant account for the convenience of your business and your customers with built in safeguards for processing electronic payments that offer maximum protection from fraudulent activity. 

However, merchant account fees that are imposed by banks are often very high. Since banks must work with at least one of the major credit card companies, merchant accounts are usually marketed by an authorized bank agent or a processing agent.

To ensure the affordability of a merchant account for our clients, Nevada State Corporate Network searches for the most cost effective accounts with standard markup pricing that is clear and concise. We recommend banks that provide excellent customer service and a dedicated and knowledgeable staff to serve the needs of their customers. 

Nevada State Corporate Network will assist you in determining the type of merchant account that is most suitable for your business. 

• An internet merchant account is designed for an e-commerce business whose customers mainly shop over the internet. 
• Telemarketing and travel merchant companies are examples of high risk businesses and warrant a high risk merchant account.
• For merchants with customers that primarily deal with international stocks, an offshore merchant account would be appropriate.

Merchant accounts are freely available online, but beware of scam artists trying to make a quick buck. Some companies may have hidden charges such as charge-back fees, customer service fees, cancellation fees, annual fees, and other deceptive features that can add up quickly and reduce your profits. 

Nevada State Corporate Network verifies all merchant accounts through the Better Business Bureau and will carefully review and evaluate all contracts prior to recommending a merchant account provider for your business.