Introduction to Merchant Accounts

Introduction to Merchant Accounts with Instabill

In order to better understand what merchant accounts are and how they help your business, Instabill has compiled a number of articles here to explain our services. If you have any additional or more specific questions, merchant services experts are standing by. Contact us online today, or call 1-800-318-2713.

A merchant account is essential for any business that is launching or has already launched a website online for commercial purposes. It is through a merchant account that sites can accept credit cards and other forms of online payments. A merchant account service provider has many advantages. Click below to view the top 10:

The Top 10 Advantages of Having a Merchant Account

What is a Merchant Account?

A merchant account is a unique bank account that enables businesses to accept credit card transactions. However, not all banks provide these types of accounts. Merchant acquiring banks work directly with merchant account providers (like Instabill) as well as business owners to establish credit card merchant accounts. Some acquiring banks offer different merchant credit card processing solutions depending on location and business type.

Instabill provides a wide range of credit card options to business owners worldwide. We primarily work with e-commerce merchants, but we can also provide solutions to mail-order/telephone-order (MOTO) merchants through our virtual terminal and our domestic solutions provide retail merchant accounts and mobile merchant accounts to US businesses. With Instabill’s other >merchant services, you can also find SSL certificates for your website, get help reaching PCI compliance, and obtain an offshore company registration for your business.

Finding the Best Merchant Accounts

The different types of merchant accounts number into the thousands. Selecting the best merchant account for your company can be difficult. When looking for the best merchant account for your business, be wary of three things: Merchant account providers who have hidden fees, demand money upfront and/or list their services in an ambiguous manner.

These 9 guidelines can help you choose the best merchant account for your business.

The best merchant account will have a competitive fee structure, a good discount rate to merchants and no hidden fees. It is essential that you compare the rates of different merchant account providers to choose the best merchant account. Merchant account pricing may seem simple, but when you actually start your research you realize there are many associated fees, it can complicate the process.

View 8 helpful tips in comparing pricing for merchant accounts.

What the Top Merchant Account Providers Offer

When searching for e-commerce merchant account providers for your business, there are hundreds of viable results. But trying to find the merchant account provider who is the best fit for your online business can be tedious. Whether it specializes in providing merchant services to certain e-commerce industries or it offers comprehensive fraud prevention tools, each merchant account provider is unique.

  • Merchant account solutions
  • Multi-currency options
  • Merchant services
  • Merchant account fees
  • Application process
  • Account setup time
  • Live customer service
  • Technical support

Online Payment Gateway for Bitcoin

In addition to your bitcoin merchant account, Instabill aligns merchants with the secure payment gateway of the acquiring banking partner with which we match your business. The payment gateways of our banking partners come with many features including supporting large ticket transactions as well as unlimited monthly credit card processing.

Opening a Merchant Credit Card Account

Many banks and financial establishments offer a merchant credit card account. However what newcomers to online businesses need to know is that it is not necessary to have a bank account in order to have a merchant credit card account. Rather, what is of grave important is to have complete documentation of your business and a stable credit history.

When opting for a merchant credit card account from a bank, the merchant needs to provide:

  • Credit History
  • Bank/Trade references
  • Financial Statements
  • Tax Returns
  • Processing History