If you own a business in Las Vegas that accepts credit cards, you probably know what merchant services are. If you don’t own a business, you might not be so aware. If you’re a business owner who is just starting out or has finally decided to take credit card payments, you’ll need to know exactly what merchant services are, and why your business needs them.
What Are Merchant Services?
Merchant services is an industry term. It describes the accounts and equipment a business needs in order to accept credit cards for payment. To accept credit cards, a business needs to have a merchant account, which is somewhat like an unsecured line of credit. When a customer uses their credit card for a purchase, they have plenty of time to pay off the debt. Your business, however, would probably rather gets the funds quicker, and you can do that with your merchant account.
To obtain a merchant account, your business needs to work with a Merchant Service Provider. This provider will help you set up your business with the ability to process credit cards for a small monthly fee. This fee is standard across the merchant service industry, as Visa and MasterCard set the costs for all merchants regardless of size.
How Do Merchant Services Work Online?
With the invention of the internet came an open door to the entire world. From their personal computers at home or their mobile devices on the go, people can keep up with friends, get the latest news, or make financial transactions. It’s not only changed the way people interact, it’s changed the way people do business. Brick and mortar stores that have existed for 150 years are going out of business in favor of stores that have online purchasing options.
Many people prefer to shop online, so if your Las Vegas, NV business wants to gain a foothold in the market, offer an online credit card payment option. By having your customers log onto a website to purchase goods via an e-commerce shopping cart, your online sales will get a boost. Some of the most important benefits of obtaining merchant services to assist with this transition are:
- Flexibility. No matter what type of credit card your customer uses, your internet merchant service processor has you covered. This includes the ability to accept gift cards, void transactions, and issue credits.
- Convenience. Day-to-day transactions will now be smoother. No more going to the bank to deposit payments; it’s all scheduled online.
- Security. Even in a world of credit card fraud, internet merchant service providers can offer excellent protection. Tools within the software are always watching and can alert you to suspicious transactions.
Catching Up To The Times in Las Vegas, NV
Having an internet merchant account is good for your customers and your business. Global 1 Wholesale Merchant Services, Inc. has all of the information you need to get your internet merchant services account up and running. Don’t wait until you’re the last small business to make the change. Contact us for more information today.