MERCHANT SERVICES
Why work with MBA for Merchant Services:
MBA has over 15yrs industry experience and has strategic partnerships with front end and back end processors. By working with MBA, as opposed to working directly with a merchant processor you’ll get a neutral, highly invested partner who will:
Why Accept Credit Cards?
You may be asking yourself why should your business accept credit cards. Today, accepting credit cards for every business is a must. Several decades ago, cash and checks ruled the payment arena. With the convenience of paying with plastic, the amount of customers wanting to pay with credit cards has soared to over 3 trillion a year. This is all because more and more merchants are accepting credit cards by opening a merchant account.
Top four Reasons to accept credit cards:
The Different Types of Merchant Accounts
Every merchant is classified into one of the several merchant account categories available, all based on how they collect and process the credit card information. To find out which category your business falls under, review the information below.
There are two main category types when it comes to credit card processing. They are "swiped" and "keyed." Under these categories, you have several different methods or ways of processing that information. Swiped is referred to as when you have the customer in person and swipe their credit card. Keyed is referring to when you take the information over the phone, Internet or by fax. It can also be when you are mobile and have the customer in person, but want to use a service that is less expensive and it requires you to key the information in.
"Swiped"
You can call us at (404) 991-3568 or email us info@businesspledge.com to start a discussion
MBA has over 15yrs industry experience and has strategic partnerships with front end and back end processors. By working with MBA, as opposed to working directly with a merchant processor you’ll get a neutral, highly invested partner who will:
- Align you with the payment company that fits you business strategies
- Learn your business structure and goals up front
- Understand your sales cycle and how payments impact the process
- Determine the optimal solution for your business
- Do the research to source the optimal solution & negotiate contracts
- Implement and support the selected solution (no additional cost)
- Stay on to handle all customer service and escalations (no additional cost)
- Become an integrated part of your organization’s ecosystem
Why Accept Credit Cards?
You may be asking yourself why should your business accept credit cards. Today, accepting credit cards for every business is a must. Several decades ago, cash and checks ruled the payment arena. With the convenience of paying with plastic, the amount of customers wanting to pay with credit cards has soared to over 3 trillion a year. This is all because more and more merchants are accepting credit cards by opening a merchant account.
Top four Reasons to accept credit cards:
- Increase your sales
- Faster Checkout
- More Convenient
- Cheaper than Cash
The Different Types of Merchant Accounts
Every merchant is classified into one of the several merchant account categories available, all based on how they collect and process the credit card information. To find out which category your business falls under, review the information below.
There are two main category types when it comes to credit card processing. They are "swiped" and "keyed." Under these categories, you have several different methods or ways of processing that information. Swiped is referred to as when you have the customer in person and swipe their credit card. Keyed is referring to when you take the information over the phone, Internet or by fax. It can also be when you are mobile and have the customer in person, but want to use a service that is less expensive and it requires you to key the information in.
"Swiped"
- Retail Merchants - typically conduct transactions face to face in a retail environment. The customer's card is swiped through a credit card machine and their signature is captured on the terminal or on paper.
- Wireless / Mobile - typically conduct transactions face to face but in a wireless environment as there is not a physical store. A wireless terminal machine is used instead of the traditional standalone unit. An example merchant would be a limo driver or a pizza delivery.
- Restaurant - typically conduct their transactions face to face in a retail store. The difference is they may require the ability to add tips to their charges. This is done by using the tip function which settles the transaction for the larger amount that includes the tip.
- Lodging - typically processes their transactions like retail merchants except they may adjust the settlement amount depending on the customer's length of stay or include any additional charges they incurred while staying at the merchant. Example merchants would be hotels, motels and bed & breakfasts.
- Internet / Ecommerce Merchants - conducts business through a web site by utilizing a shopping cart and an Internet payment gateway service. The shopping cart allows the customer to browse, add items to their cart and checkout like at the grocery store. The payment gateway then collects the credit card information and processes it in real time.
- Mail & Telephone Order (MOTO) - typically take the customer's credit card information over the phone, by mail or through the Internet. They then manually process the transaction by keying it into either a credit card machine or through a virtual terminal such as Authorize.net.
- Face to Face (mobile) - this type of merchant is typically on the go, such as a vendor at a trade show. Instead of investing a lot of money into a wireless solution that allows you to swipe a credit card, you can use a service like touch tone that allows you to take the information in person, but key it in over the phone.
You can call us at (404) 991-3568 or email us info@businesspledge.com to start a discussion
