05 How to Research and Find Your Niche Online (PDF)

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					Accepting Credit Cards: Merchant Status For Your Business

A lot of people nowadays, prefer the convenience of purchasing through credit cards. In the United States,
nearly 1 in every 3 consumer purchases are paid through credit. It is crucial therefore for companies to
readily accept credit payments to avoid losing sales.

No matter what type of dealing you run, whether it is a small shop, online store or mail order business,
having a credit card service for customers will surely come in handy towards your business’ growth.
However, one cannot just accept credit card payments in an instant. In fact, one has to apply to a number of
banks for a merchant status to be able to do this. But once your merchant status is established, then your
business will be good to go.

How Does Merchant Status Work?

Your company must first partner with one or a few banks to be able to accept credit payments. Before doing
so, you must apply to these banks to achieve the merchant status. These banks will work with you to transfer
money paid through credit by customers within a day or two of the sale. They will also be responsible for
collecting the money from the customer, and in return, your company will pay them a usual commission,
ranging from 1.5 percent to 5 percent for each transaction. Other fees may include monthly support and
equipment rentals.

What Do Banks Look For In Companies Applying For Merchant Status?

Applying for merchant status may be a process much similar to applying for a loan, as lenders would
certainly investigate on your overall financial status. The feasibility of having credit payments used through
your business will certainly be looked up. Here are some factors that lenders will need to consider before
granting you merchant status:

• Your Business’ Type & Length of Time.

Lenders would certainly need to know whether granting your company the status might have higher risks for
accepting credit payment. For example, home-based companies may have more difficulty to obtain a
merchant status as compared to companies with stores. Aside from this, companies that are already
established for some time in contrast to those that are only starting out may be granted status quicker.

• Your Sales Track Record.

Lenders would also be interested to know if your company could really bring in money to the table. If your
company has a dependable sales track record, then the easier for you to achieve status.

• Your Credit History.
General credit-worthiness would certainly be given much consideration. Be prepared for your personal or
business credit histories to be investigated. In line with this, lenders may also try to check with your
previous merchant accounts, about your business’ performance as this give feedback on how credit worthy
you are.

What Should You Do To Achieve Merchant Status?

To prepare your company for application, you must be ready to have all information about your business as
well as your personal credit history at hand. This includes how you obtain the necessary finances for your
company and how you run things in the company. Requesting for a credit report for your business before
hand will also be a good move.

Most importantly, be sure that you have maintained a favorable business and personal credit score for
lenders to consider you faster. Pay your dues on time and avoid mounting up huge debts.

In your small business, establishing a merchant account may seem unnecessary or too much of a hassle at
first, however, once you start accepting credit payments in your business, you will surely realize how much
it can contribute to improving your company.

It does not only by boosting sales, but it can also provide much more convenience to your customers and
even establish your company. More importantly, accepting credit card payments will surely improve cash

In the end, once you will see how your small business can grow by having a certified merchant status, you
will realize how all of your efforts were actually worth it.

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Description: $1000 Provable Income Cash Advances Windows 98 alarm burglar free wireless bull dog pit terrier genealogy of morals sports car styling tips 01 Membership Sites Today 01 5 Important Rules in Website Design 01 Affiliate Marketing in a Nutshell 01 Avoiding Impulse Spending 01 Establishing Online Dating Relationships 01 What is Niche Marketing 01 Why Publish an eZine 01 02 Why Start a Membership Site 02 5 Ways to Keep Visitors Coming Back 02 6 Ideas for Viral Marketing 02 Affiliate Marketer Defined 02 Growing Online Dating Relationships 02 Making Money from Selling Advertising Space 02 Niche Marketing vs. Internet Marketing Niche 02 Rebates Reward or Rip Off 02 03 The Different Types of Membership Sites 03 Are Affiliates in Demand 03 B2B Marketers Do It, Too 03 Generating Revenue With Good Planning 03 Mailing List for Affiliate Marketers 03 More Popular Online Dating Activities 03 Spend Wisely to Save Money 03 What Niche Marketing Really Is 03 04 Deciding on Your Membership Model 04 E Books and Affiliate Programs 04 Good Design Practices 04 Online Dating Activities 04 The Age Old Question Do You Need a Website 04 The Budget 04 What Niche Marketing is Not 04 Which One is More Important Product or Mailing List 04 05 Suggested Membership Site Themes 05 Folksonomies a New Viral Marketing Tool 05 How To Have Websites Built For You The Cheap Way 05 How to Research and Find Your Niche Online 05 Identifying an Existing Hot Demand 05 Popular Online Dating Activities For Men 05 Publishing Your eZine the Pros 05 Why Should I Make a Budget 05 06 A Man's Secrets to Successful Online Dating 06 About Online Trading 06 Does Your Passion & Hobby Really Matter 06 Four Good Reasons to Use Viral E Books 06 Protecting Your Commissions 06 Publishing Your eZine The Cons 06 Starting a Free Membership Site 06 The Importance of a Sitemap 06 07 Ask the Right Questions First 07 Ch