5 things you can do with your Free Merchant Account

Finally! You get your hands on a free merchant account (virtually though), and you've just been promised credit card processing at the soonest possible time (which is probably in less than 24 hours.. timer starts now), and you just can't wait to start hawking your products/services on the Internet Market.

But first things first, what can you do with your free merchant account?

Accept credit cards/checks
You can only accept credit card payments directly with a merchant account(free or not). Not only that, you can also accept checks! Used to be that only retail outlets can accept checks - not anymore. Check payments can be made online. The customer only has to fill in the necessary information, and cha-ching! cha-ching! Money goes down all the way(albeit a few side trips to your merchant account, payment gateway, etc) to your bank account.

Sell to an international market

Most Americans have at least 2 credit cards and that's only in the United States. What more in European countries? Or Asian countries? Having a free merchant account allows merchants to not only offer credit card processing to the local US market but also to the world. Just imagine the potential earnings when you start offering to Russians, Romanians, or Singaporeans.

Cut costs of starting an ecommerce business
If you're just starting a business, there's a certain amount of capital you can dispense, more than that and your return on investment will be longer than what you wrote in your business plan. A free merchant account lessens the amount of money coming out of your pockets with its gazillion freebies every now and then. If you're an established business, rolling over to a free merchant account provider gets you bigger discounts on a lot of credit card processing fees. Start up merchants can take advantage of the free setup, free application fees, as well as the often times free terminals.

Automate your accounting system

Does your accounting system confuse you? Plus your accountant isn't making it any easier for you, eh? Fortunately for merchants, free merchant accounts simplify and automate the accounting system. Merchants can easily track purchases anywhere just as long as there is Internet connection available. Shipping as well as deliveries can also be tracked depending on your provider.

Have a high risk business? Will process.
What kind of business do you have? Internet merchants are automatically classified as high risk merchants. Businesses in the area of travel, adult entertainment, online gaming, pharmacy are classified high risk as well. While banks and other financial institutions may turn you down for your own merchant account, there are a plethora of 3rd party processors who can provide you with a free merchant account.

Aside from the following above, a free merchant account allows you to sell even when you sleep. Can other businesses say that about their stores? That's one of the primary reasons a lot of physical retail stores are migrating to online stores. Everyday there's a new revenue channel to be discovered with your free merchant account. Now all you have to do is wait till you can start processing, and maximize the potential of your ecommerce site with your free merchant account.
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