Free Merchant Account: Debunking the Misconceptions

Posted: Sep 07, 2007 | Comments: 0 | Views: 32 | Bookmark and Share

If you're an ecommerce site owner, or somebody who does business on the Internet, you'd know that in order to accept credit card payments, you'd need a merchant account. For some business-owners, getting a merchant account through a broker or a bank is easy, especially if the business is as steady as a rock.

However for some merchants with start up businesses, getting their own merchant account proves difficult. A mom and pop business applying for a merchant account through a bank can get rejected for the following reasons:

1.Nature of the business is too risky
2.Too early in the business to apply for a merchant account
3.Processing volume is too low

There are a lot of reasons to get rejected by banks or brokers. However, hope isn't lost as there are other ways to get a merchant account. Get a free merchant account.
Free merchant account providers flood the Internet. They offer so many freebies, you can just imagine where they get their profit. However, contrary to popular belief, a free merchant account isn't free.

No it's not. It never was, it never will be.
Can you imagine anyone having a business of processing credit card transactions not making money?
That's called charity, and what they do is far from not gaining any profit.
This is where the problem starts, the misconception people have on free merchant accounts.

Misconception #1: Everything's for free with these merchant accounts

Sorry to say but they also have overhead expenses, employee salaries, and other related expenses. There is no business in the world that isn't out to make money. For free merchant account providers, although they do give out freebies, they still get a fee from the transactions they process for your business. They do provide free setup, free terminals, and free software to invite start up businesses to sign up with them.

Misconception #2: Free terminals are guaranteed new

Indeed, free merchant account providers offer free terminals – however, not all terminals are created equal. Some terminals process credit cards only, others are appropriate for wireless merchants, while others process echeck payments. Some providers give out terminals that aren't as appropriate as you'd like for your business. Other free merchant account providers dupe merchants into thinking it's all new – when in fact, their terminals are refurbished or completely out of date. However, there are always 2 sides to a coin. There are still a lot of free merchant account providers who give out top of the line equipment to their subscribers.

Misconception #3 Free merchant account is the secret to ecommerce success

People believe there's always a magic pill to success. Wake up bucko, there isn't. There's no such thing as instant success, more so in business. Okay, admittedly there are some who are LUCKY in business, but let's make this clear – they worked hard for it. Although a free merchant account can help you process credit card payments, it's not enough to have it. You have to market your product or service successfully, and make sure your goods are in demand. A business demands a lot, and a free merchant account is just one of them.
A free merchant account is indeed a helpful tool in creating the empire you want in the Internet marketplace, however, one should be wary of scammers who prey on innocent merchants who do search for information, not just the right one. Getting the right information can reduce the misconception, and prepare you for what to expect from the services of a free merchant account provider.

(ArticlesBase SC #210508)

Rate this Article
  • 1
  • 2
  • 3
  • 4
  • 5
  • 1 vote(s)
    Feedback
    RSS
    Print
    Email
    Re-Publish

    Source:  http://www.articlesbase.com/finance-articles/free-merchant-account-debunking-the-misconceptions-210508.html

    Article Tags:

    Free Merchant Account

    ,

    free Credit Card Merchant Account

    ,

    Free Internet Merchant Account

    Learn about British Merchant Ships and German U Boats - WW Two Footage

    Learn about British Merchant Ships and German U Boats - WW Two Footage in this educational video from dizzo95. (01:28)

    Coffee From Tanzania

    Part 1) Glen & Derek talk about this unique ‘pea berry’ from this east African country. For more like this visit: www.legourmet.tv Distributed by Tubemogul. (03:11)

    Kenyan Coffee Part 1

    Derek from Merchants of Green Coffee gives us a rundown of the flavour profiles of Kenyan coffee. While we talk he roasts, grinds, and brews a cup. (04:40)

    Kenya Coffee Part 2

    Part 2: Derek from Merchants of Green Coffee continues to walk us through the flavour profiles from this coffee growing region. (03:39)

    Introduction to Green Coffee Part 2

    Part 2: Le Gourmet TV meets with Derek from Merchants Of Green Coffee in Toronto; we start on the road to learning about buying green unroasted beans. (04:32)

    If you're a small merchant selling online, you know accepting credit cards via the Internet is vital to the survival of your business. Although information is readily available on the net, some people still don't know where to begin! If you want to accept credit cards via the internet, there are 3 things you have to consider – specifically, a free merchant account (also known as an Internet merchant account), a Payment gateway, & a website.

    By: Benedict Bailey l Finance l Jun 19, 2007 l Views: 26

    One of the best features of owning an online-based business is the amount of money you save on start up costs, and ongoing overhead in comparison to businesses with physical locations. Not only do you not have to pay high rental or mortgage payments for the space, but you save...

    By: Debbie Dragon l Finance l Feb 16, 2007 l Views: 31

    The Chase Free Cash RewardsSM Visa® Card, issued by Chase, is designed for those with very good credit who would like a card that offers a cash back reward program.

    By: George Allen l Writing > Non-Fiction l Oct 20, 2006 l Views: 272

    Its good to know where you are sending your informatio online before doing so.

    By: Court Tuttle l Finance > Credit l Nov 26, 2007 l Views: 34

    Many of today's Internet consumers are used to the ease and convenience of paying with credit cards online. For these net-savvy buyers, the inability to pay with a credit card is a deal-breaker.

    By: Phil de Fontenay l Internet > ECommerce l Oct 14, 2006 l Views: 246

    An internet merchant account can really do wonders to your online business. AMS is the most reputed name, among all merchant service providers currently operating in the online sector.

    By: Steve Depraida l Finance l Aug 08, 2007 l Views: 41

    A guide to the importance of accepting credit cards for online businesses. Provides information on setting up a merchant account and picking the best processor

    By: jay smith l Finance l Nov 12, 2007 l Views: 22

    At Advanced Merchant Services, internet merchant accounts allow you to accept credit card online payments. Merchant-accounts.com provides all Merchant account, Internet Merchant Accounts solutions.

    By: Steve Depraida l Finance l Aug 02, 2007 l Views: 19

    Todd just released a new Special Situation Video for his Private Client Group and is just giving it to you. His private clients pay $997 a month for this information and each video has the potential to pull Hundreds of Pips in Easy Profits.

    By: Rob Trader l Finance l Feb 09, 2010

    Time is of the essence. Tom Strignano who is an ex-bank chief trader has just released a killer system he developed while trading for international banks. It calls Fibonacci Strike. Watch the entire video here

    By: Rob Trader l Finance l Feb 09, 2010 l Views: 2
    Wiley Long

    Health Savings Accounts allow participants to invest their savings into high interest-yielding investments, similar to the way they might invest into an IRA. Participants should be aware of their investment options in order to maximize the growth potential of their Health Savings Accounts.

    By: Wiley Long l Finance l Feb 09, 2010 l Views: 2

    I got my hands on this cool universal capital growth application I had to pass it along to you. The best part is there is not cost involved! This trade application and seminar are going to show you exactly what you need to get your trade business in order. You'll be able to set realistic expectations for your income and capital growth as opposed to believing the hype you receive in your spam box every day.

    By: Rob Trader l Finance l Feb 09, 2010 l Views: 2

    It took years and tons of money to develop and test Forex Cash Evolution. And the results are nothing less than outstanding: Beta-testers raked in $1,000 profit with just 2 autopilot trades… or $3,120 profit in 1 month … or $23,153.20 in 45 days on their live accounts… Back-testing showed Forex Cash Evolution could turn $10,000 in $2,636,067.62 in 9 years (from 2000-2009). It’s around $292,000 in profit per year CONSISTENTLY.

    By: Rob Trader l Finance l Feb 09, 2010 l Views: 1

    Here’s some of what they discussed with the World Heavyweight Champion of Brokers! - Hear first-hand from FXCM why they’re sponsoring the most important event to happen in FX for the last 15 years! - Everyone was stunned at the transparency of the LIVE accounts with 15 minute updates in the FRWC – hear what FXCM thinks about it. - The “kick to the head” over liquidity – only a broker could tell you about this! - FXCM on MT4 – hear it from the horse’s mouth!

    By: Rob Trader l Finance l Feb 09, 2010 l Views: 4

    The price of gold is over 710 British Pound per troy ounce. The rise in the price of gold has been meteoric lately. It cannot be guaranteed, that the price will continue to rise, but there are few if any who would want to bet on a lower price becoming permanent.

    By: Harry Smith l Finance l Feb 09, 2010 l Views: 1

    In the harsh economic climate of the modern world sometimes it is hard to make two ends meet. Many people around the world have discovered that since the price of precious metals, especially gold; have gone up that they can sell their old seldom worn jewellery as an option to survive tough financial times.

    By: Harry Smith l Finance l Feb 09, 2010 l Views: 1

    Search for free merchant account in your favorite search engine & most probably, the numbers will come up to more than just a million. In fact, Google alone has 41 million sites for those keywords & half of them are actual free merchant account providers.

    By: Benedict Bailey l Internet > ECommerce l Oct 04, 2007 l Views: 15

    Whether you believe it or not, in the Internet market, testimonials, customer feedback, or reviews still affects the decision of a browser into a customer. Testimonials are written for or against a certain product or service. It can convince customers to buy – a last nudge, or pivot for them to finally decide to purchase from you. This bit of information has been tapped by various online ecommerce sites, and they've found that indeed, customers value other reviews by others.

    By: Benedict Bailey l Internet > ECommerce l Sep 26, 2007 l Views: 13

    Once in our lives, we've made a trip to the shrink(since our friends would be too tired to listen to us rant) or hired the services of a life coach. Some may shirk away from the idea of having somebody coach our lives, or listen to us rant about things private to us. However, this “i have an appointment with my shrink” has also translated itself to the ecommerce market. Let's just say they've gone bigtime and have been offering to online consumers as well.

    By: Benedict Bailey l Finance l Sep 17, 2007 l Views: 9

    If you're an ecommerce site owner, or somebody who does business on the Internet, you'd know that in order to accept credit card payments, you'd need a merchant account. For some business-owners, getting a merchant account through a broker or a bank is easy, especially if the business is as steady as a rock.

    By: Benedict Bailey l Finance l Sep 07, 2007 l Views: 32

    Applying for a credit card? Planning to buy a home or a car and making a mortgage or loan? Starting a business and you need a free merchant account? Then one requirement you have to provide (whether you like it or not) is a credit report.

    By: Benedict Bailey l Finance > Credit l Aug 22, 2007 l Views: 9

    Not everyone has a golden heart like you do – you who have built your life around pushing for causes other than yourself. You have unselfishly devoted your life towards making this world a better place – be it a non-profit organization in the environment or humanitarian field.

    By: Benedict Bailey l Finance l Aug 09, 2007 l Views: 59

    If you want to accept credit cards but you can't get a merchant account, then a free merchant account is for you. What do you need to know about free merchant accounts? Here are the basics. First off, a merchant account is an account with a bank that allows you to accept credit card payments. This means you can tell your customers to pay either in cash or use that little plastic card in their wallets.

    By: Benedict Bailey l Finance l Aug 01, 2007 l Views: 30

    Nobody's perfect. And in the world of business, mistakes are made on the way to success that can either hinder or delay the "planned success" of a business and never has this been truer than for an ecommerce business. Merchants are too quick sign contracts or agreements from ecommerce "helpers" such as free merchant accounts.

    By: Benedict Bailey l Finance l Jul 23, 2007 l Views: 36

    Add new Comment

     
    * Required fields
    Author Box
    Articles Categories
    All Categories
    0