When starting a small business you may find it difficult to open a merchant account with an established merchant service provider. One reason may be that you do not want to incur any high expenses at the early stages or could be that your application to open a merchant account has been rejected due to the lack of credit history. But this does not mean that you have to give up on processing credit card transactions without which your business will be at a major disadvantage?
With the several third party processing services that assist you by providing you with alternative merchant account services like the ones provided by Solid trust Pay enable you to accept online credit card payments.
The reason why these third party processing services are a popular choice with new businesses is that they do not have all the payments that are associated with a traditional merchant account such as monthly fees, minimum charges and other such payments. These accounts will require a set-up fee and you will be charged a fee per transaction. But this will be more expensive than having a merchant account with Solidtrustpay in the long run when the sales volume increases. You can click on to www.solidtrustpay.com and follow the links to find out the types of account s and the fees charged by the reputed merchant service provider.
Some of the popular third party service providers are PayPal which is widely used as a payment method on eBay, Netbanx and World Pay.
How do these alternative merchant providers operate?
These businesses operate merchant accounts with a merchant service provider like Solid Trust Pay and will assume the role of the merchant. The merchant will have a link created to his website through the third party processor’s programs and when a customer makes a purchase the processor will accept credit card transactions on your behalf and notify the seller of the sale in order to deliver the goods. The merchant will collect his funds from the processor at pre-determined intervals after deducting the fees due to the processor.
The reason these services are more costly than a merchant account is because you are paying merchant account fees as well as a fee for the third party processor. The best option for a new business is to use their services until the business is established and then open a merchant account with Solidtrustpay who provide the best rates for merchant accounts. When the time is right visit www.solidtrustpay and gets your credit processing facility from them.
Having your application for a merchant account rejected does not mean you will be without credit processing facilities, alternative merchant providers will provide the facilities until you can open a merchant account with Solid Trust Pay.