In the quest for viable credit card processing options, some merchants are left out of luck. High risk merchants are subject to an unfair bias while others may not know where to turn for specific solutions they need. Regardless of what a merchant’s individual situation might look like, using a third party merchant account provider can prove to be extremely beneficial.
If you’re wondering why, just keep reading. We’ve compiled six reasons why you should look to a third party for your payment processing needs.
This one is simple. Third party merchant account providers often come with the best rates in the industry. The long accepted saying goes “you have to spend money to make money.” However, you shouldn’t have to be forfeiting a large portion of your sales each month to pay for credit card processing options. Third party providers often have many partnerships that enable them to deliver the most affordable solutions possible.
Each and every business is different, and because of this, it is vital that you find a merchant account provider that can offer solutions that meet your specific needs. Not many third party merchant account providers can offer this specific product, but those who do are worth your time. Take Instabill, for instance. We’re partnered with dozens of domestic and offshore acquiring banks, each one specializing in merchant services for a particular e-commerce industry or business category. This enables our merchant account managers to find unique solutions for merchants every time.
Another reason to consider processing with a third party is access to a reliable payment gateway. Customers enter their payment information on your site, but their money needs a portal to travel through in order to get to your merchant account. The best third party merchant account provider will offer access to their own payment gateway for qualifying merchants.
In today’s world, it is vital for merchants to have all the proper tools at their disposal to make their business thrive. For many, this may mean selling products internationally. Third party providers that offer international merchant accounts are perfect for these types of e-commerce businesses, because of their capacity for multi-currency processing. Having a merchant account that enables you to accept money in the world’s most popular currencies, while receiving it in your own preferred currency is invaluable.
You shouldn’t have to wait weeks, or sometimes even months for your processing solution. Another great quality of third party merchant account providers is that most of them offer quick turnarounds on applications. Ideally, you would be approved for a merchant account and be all set up to start accepting payments in about a week. Here at Instabill, we can get clients approved for merchant accounts in 1-2 business days, and have them processing soon after.
There are a lot of complexities when it comes to payment processing. A typical e-commerce merchant can grapple with anything from chargebacks to PCI compliance, and these things sometimes require help. If you need a credit card processing solution, don’t bother applying for services that just want your money. Find a third party merchant account provider that is going to be there after the contract is signed to offer continual and live client support.