Getting Started With Merchant Accounts
If your site doesn’t accept credit cards, you can kiss your customers goodbye. An overwhelming majority of online shoppers prefer to pay on the site, so accepting credit cards is the best way to capture the maximum amount of profit. If you are one of the 55 percent of businesses that do not accept credit cards, you are missing out on a huge chunk of money. Getting started with a merchant account is simple.¬†
You don’t need a lot of money or complicated machines in order to start accepting credit cards. Setting up a merchant account is quick and the process can be completed in a day or less. If you are planning to sell products offline, you can order a small card reader and use your smart phone to start accepting payments.
Many merchants are reluctant to start accepting credit cards because of the fees associated with doing so. Fees for accepting credit cards have dropped dramatically, and many merchants simply roll the cost of the fees into their pricing. Others stipulate that minimum purchase amounts for using credit cards or tack on additional fees to cover their costs. Studies have also shown that people are more likely to make impulse purchases and buy additional items when they have the option of using plastic.
If you are setting up an electronic cigarette merchant account, there are several things you should keep in mind. First, you will need to configure your site in order to accept credit card payments. This means that you will likely need shopping cart technology or another means of collecting funds for your product. Secondly, you will need a payment gateway.
For some merchants, this is PayPal. Others use one of the many other payment gateways available on the market. Your merchant account will also double as an effective accounting system, helping you track exactly how much your business has earned. You can integrate your account with your accounting system for maximum tracking.
When it comes to getting the most out of your electronic cigarette business, accepting payments is essential. There are many payment gateways that offer low-cost merchant accounts to get you started. Whether you are doing $50 or $5,000,000 in sales per month, having a merchant account is key to getting the most profit from your company. Find the right merchant account provider and get started today. Accepting credit cards from your customers has never been easier.