Is there Any Suitable substitute to Merchant Accounts?

Merchants and agents alike are capable of calling in and speaking to a live person. No long hold times or voicemails.
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We process hundreds of millions of transactions annually.
Best of all, our agreement is non-exclusive! Work with as many different processors/banks as you would like. We guarantee we will earn the majority if not all of your business.
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If you are starting a new business, you might have realized the importance of merchant accounts. You may be planning to apply for one with the help of merchant account agents. But, it is better to consider whether you would be able to mange without such an account. This should be done before approaching merchant account agents. If you feel that you may not be able to handle the charges associated with having a merchant account, then it is better to consider the possibility of using other alternative methods such as “Third Party Payment Processing”, Sole Proprietorship, PayPal and Check Processing.

“Third Party Payment Processing”:

One alternative to approaching merchant account agents would be online based or digital but since they would be acting as the third party, there is no need of having a merchant account for accepting credit cards. In short, they work similar to merchant accounts but the hassles and paper work associated with merchant accounts are not there. There will be a certain charge associated with this processing. For applying, a simple form has to be filled out. The process is also simple.

Check Processing:

If you are not willing to spend a huge amount on merchant accounts, check processing can help you. Some of telephone order and mail order businesses use this method. With this method, checks could be accepted over the telephone and there is no need to open merchant accounts. These services are also known as ACH processing or Check 21. Some of the merchant services organizations provide these services.

Sole Proprietorship:

If you work as the sole proprietor, you can mange without such an account. It would be possible to accept money orders, cash or checks as payment. These will be deposited to the bank account. This is popular among start-up business owners, handymen, landscapers in addition to other businesses that are home-based.

PayPal:

PayPal can be considered as an alterative. Utilizing your own security numbers, it is possible to get PayPal accounts. The whole application process is simple and fast. It will provide you with less flexibility since the people have to visit your site for making the payments. For each of the payment processed, there will be a certain fee.

These are some of the alternatives that you can depend upon if you are not willing to go to “merchant account agents”. However, customer satisfaction is vital in making a particular business successful. Customers all over the world prefer making payments through credit cards since that is the most comfortable payment making method for them. There are chances that you may loss a lot of customers because of your inability to accept payments through credit cards.

So, before you make a decision regarding whether you need merchant accounts or not, analyze all the aspects of your business. If you feel you cannot manage without these accounts, go to merchant account agents who will help you in getting the merchant account needed for your business.