Blog Category Choosing a Merchant Account

Merchant Warehouse named a Winner for Sales Lead Management System of the Year

Merchant Warehouse, a premier provider of merchant accounts and credit card processing solutions, announced today that the company was presented with a Stevie Award for Sales Lead Management System of the Year in the fifth annual Stevie Awards for Sales & Customer Service.

Senior Vice President of Sales, Ryan Zdanis was featured in the January edition of Green Sheet magazine. The article, Hiring Trends to Watch in 2011 discusses the employment outlook in US industrial sectors, particularly at the merchant account and ISO level. 

Ever hear the old phrase "Nothing is for free?" Every day we are given "free" offers from numerous fast food chains, restaurants, and more. Now think back to whether you've ever heard the phrase "Buy none, get one." Or, "Free small coffee, no purchase required." Doesn't happen too often, does it?

While researching merchant account services providers and equipment you must certainly have seen offers for free terminal deals. But before you walk into a trap, ask yourself the following questions:

Throughout my 2 years working in this industry, I have noticed a few common threads that have remained unchanged over the years: Merchants do not WANT to accept credit cards, and furthermore, don’t have TIME to spend researching processing companies.  They want a quick fix and easy fix.  But I have seen this industry change more rapidly in the past 3 years than any other industry, and merchants are having a hard time keeping up.  

In the payment processing industry, every merchant is classified into a specific “merchant account type” category, based on how they collect card information and conduct transactions. To learn which category your business is classified under, we have defined the characteristics of each merchant account type in this article. There are two main merchant account type categories, “Swiped” and “Keyed,” which reflect the basic methods used to capture card information.

With cash less commonly carried, and checks gradually becoming obsolete, credit and debit cards have completely revolutionized the industry, becoming the most common forms of payment. The majority of merchants world-wide are now accepting these cards because of the benefits of a merchant account, and to maintain your business’ competitive edge, you should accept plastic too. After all, you could be missing out on more than just sales…. By accepting credit cards, you get all the Benefits of a Merchant Account:

Although accepting credit card payments may seem like a costly business expense, it certainly doesn’t have to be. Following are five ways you can save money on your merchant account, and avoid frustrating traps.

What are your Merchant Account Rates?

This is a question our sales team hears throughout the day. So why doesn’t Merchant Warehouse just post our rates for merchant accounts on our website so that customers can compare pricing? The answer is a bit more complex than you may expect.

Simply stated, if you shop for a merchant account by focusing only on rates, you will end up paying too much.