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Wireless Merchant Account?
By: Shane Penrod, Fri Dec 16th, 2005
A wireless merchant account can bring your business into the
21st century by enabling you to accept credit payments while on
the go. All you have to do is get approved for a merchant
account and then purchase or lease a wireless credit card
processor that can be transported from one location to another
by employees who collect credit payments from customers. Here's
how it works.
1. Apply for a wireless merchant account by finding a reputable
merchant services provider to partner with. You can browse many
kinds of merchant account Websites on the Internet to find those
that will approve your company for a commercial account that
will let you accept credit card payments using a wireless
processor. Shop for banks, credit unions, or other financial
institutions that offer merchant services. Apply online, by
mail, or in person with local providers. In many cases you can
get a response within a matter of hours, or at most, a day or
two. Most underwriters look at an application to determine
whether a company has a good credit history, is able to make
monthly payments on a merchant account, and is not involved in a
questionable or unsavory business.
2. Once you have been approved for a wireless merchant account,
you can immediately select the equipment you would like to use.
Check out several units to find one that is the right size and
weight for your company's needs, especially if it will be
transported for off-site credit processing. You also should be
eligible to get a regular credit card processor to plug into any
outlet in your store or another location, if preferred. Many
units combine printer and terminal for greater convenience.
Purchase prices vary greatly, but you can expect to spend
several hundred dollars to purchase a quality wireless unit.
Your merchant account extras can add to the cost, with the
potential for application, maintenance, service, gateway, and
discount fees, among others. Find out in advance what you will
have to pay for a particular deal up front, monthly, and
annually, and make sure the expenses fit with your company
operating budget.
3. After implementing wireless merchant account equipment, see
how it works for your customers and the degree to which the
company benefits. Processing credit payments can help to
increase profits, since more customers may be eager to make
purchases when they have the flexibility to pay in credit as
opposed to paying in cash or by check. If the initial set-up
works well, you may decide to move on to other electronic items,
like a pager, a check and debit processor, and other types of
equipment that can help your company operate smoothly and
efficiently. Don't go overboard with buying fancy features that
you really don't need. Simply purchase or lease the technology
that addresses a specific need that you have already identified.
If it works, you can always add more later. If it doesn't,
you're only out the investment on the one item.
About the author:
Shane Penrod is the founder of Merchant-Acount-Quotes.com
Specializing in allowing merchants the ability to shop and
compare multiple quotes from national merchant account
providers. For free quotes on merchant account rates and fees,
please go to http://www.merchant-account-quotes.com
