When a new small business merchant or a retail business owner looks for an efficient card processing merchant services provider, they face a lot of hassle. The payment processing market is full of competition with so many processors. Still, some business merchants get confused whether to go for a merchant account from a bank or third-party payment processor. But don’t worry now. We have evaluated all your concerns, and here you will get all the answers so that you can opt for the best card processing merchant services.
Third Party-Payment Processors For Card Processing Merchant Services
It is very crucial for a business merchant to implement a credit card processing solution in their payment system. Credit card is one of the most preferred payment methods right now. This will also allow you to expand your business efficiently in this highly competitive market. A third party payment processor is also known to be a payment facilitator or payment aggregator.
If a business owner goes for a merchant account from a bank, it will include higher processing fees and other charges. It also restricts you in some areas while you expand your business as a bottleneck. There can also be a payment service to deny if your business starts receiving a high amount of chargebacks.
But these are in the case of a third-party payment processor. They allow you to have card processing merchant services to accept cc payments without setting up a merchant account. In this process, a business merchant is added as a sub-merchant under a merchant account that is shared among all other businesses. All the funds are collected on behalf of your transactions and gets processed further in your acquiring bank account.
What Are The Benefits Of Payment Aggregator?
There are a bundle of benefits and advantages associated with an aggregated merchant account. It is especially helpful for a new and small business merchant who wants to accept credit cards payments for their business transactions. Some of the significant advantages of a third-party card processing merchant services are:
- Easy Application Process: We at TheEcheck know how much struggle involves while operating a business. That’s why we have made the easy procedure for you. A business owner needs to fill the application form and submit the required documents for verification. After verification, you are ready to accept credit card payments from your customers.
- Cost-Effective: An aggregated account does not require you to pay higher account setup fees. If you are looking for a best and cost-effective payment processing solution, this is best for you. Aggregated merchant accounts involve affordable processing fees so that you can get more revenue from your business sales.
- Quick Approval: The best part of aggregated merchant accounts is that there is no need to wait for approvals. The approval process gets completed very fast right after submitting all the required documents.
So it’s best for a new small business merchant to have a third-party merchant account from TheEcheck. We are one of the best payment processing and merchant account providers. With our industry expertise, we always provide you with a payment solution that fits as per your business requirements. If you still want to know more further about card processing merchant services, you can reach us at [email protected].