Now Accept Credit Cards Online With No Merchant Account
In this digital era, having a debit cards or credit card processing solution is a must. But still, there are a lot of business merchants who find it difficult to get a merchant account for their business. This can be because of processing fees that are associated with it. But now a business can accept credit cards online with no merchant account. This service is especially beneficial for a small business merchant or a business owner who is new to the market. Now with Quadrapay, a business can quickly get a PSP merchant account and fulfil the business payment processing needs. Contact us today for the best processing solution for your business.
What Is A PSP Merchant Account?
A PSP merchant account is also termed to be a payment service provider. This allows a business to accept debit cards or credit cards payment without applying for a merchant account. This PSP merchant account contains a sub-merchant account. All the business that applies for a PSP merchant account gets a single MID that is shared among other businesses that used it. This is also known as an aggregated account. This allows a business owner to accept credit cards online with no merchant account.
What Are The Features Of PSP Aggregated Account?
The best part of a PSP merchant account is that it requires less procedure to get the payment processing solution. There are a lot of business merchants who find it difficult to get a merchant account for their business. This problem can be easily resolved with the help of a third-party aggregator merchant account. Businesses can quickly start to accept credit cards online with no merchant account under the sub-merchant account. This service is mostly prefered by small business merchants who just started their business or have not that much processing volume requirements. Some of the consequences a business owner should know about aggregated merchant account are:
- Simple and straightforward account application procedure.
- If a merchant surpasses the limits, their account gets terminated.
- Easy to switch to a separate merchant account for their business as business sales grow.
- If a business merchant starts operating high-risk account business sales on the PSP merchant account. Their services get terminated immediately.
- As the MID of merchant accounts is shared among every sub-merchants, every business merchant under it needs to pay for it.
What Are The Papers Needed To Get The Aggregated Merchant Account Solution?
We at Quadrapay has made things easier for you. Now a business merchant needs to fill the application form with all the required information of their business and submit it. Along with the form, it is required to provide some vital KYC documents for the verification producers. These are as follows:
- Director’s KYC Documents
- Void Check
- Certificate of Incorporation is required
- Certificate of Incumbency
- Bank account records up to the last three months.
- Business Details like name and licence
- Processing records up to last three months, If applicable.
After submitting all required documents, your aggregated merchant account will be approved to accept credit cards online with no merchant account. If you still have any query, reach to us at [email protected].