Merchants accounts are accounts with a band or payment processing center that allow you to actually physically accept CBD merchant account processor and draw money from the credit card for your businesses products or services. Many different platforms exist including physical locations, e-commerce and telephone processing. The beauty of excepting credit cards it will allow you to have customers from all the world opening many opportunities for you to grow your business. CBD merchant account processor
C There are two many types of merchant service accounts which are card present and card not present accounts. These basic types also have a variety of subgroups, which we will discuss in detail below.
A card present account is just that, the card is present at the time of swiping the card on the transaction. This is the type of transaction where the merchant is able to take the physical credit card from the client and swipe it through their magnetic card reader. These type of processing accounts are very low risk as the customer themselves is present when they make the purchase and are required to sign, which shows they made the purchase. This merchant account will also yield you the lowest fees and rates. Physical retail locations will want to consider this type of account, as it is most convenient for their customers and will cost them the least amount of money in the long run. It is also important for a retail location such as this consider a mail order credit card processing account as well.
When a vender has a portable credit card machine this is called a wireless merchant processing account. The vender will still swipe the customers card the same way but the actual credit card machine is portable and wireless allowing for portability and use of the machine in various locations. The fees with this type of account remain very low but the cost for equipment is higher for this type of unit. This would be a good option if you area business that needs to accept credit cards while you are in the field. This would include home repairs, craft or farmers market sellers or salespeople. This will greatly increase the number of sales you can receive from your business.
A store and forward account is the type of credit card processing account where the credit card information is stored but not processed into a handheld machine. Once the unit is hooked up to a phone line and Internet connection the unit will process all stored credit cards. Since the real time credit approval is not granted. This is an option that is ideal for business that are on the go and require credit card acceptance but have low ticket value and few credit card declines. It is very similar to a wireless account but more cost effective for the merchant.