Accept Online Credit Card Without Merchant Account
Generally, a small business merchant looks for an alternative method to accept online credit card for business payments. In order to accept credit card payments online, a business owner needs to have a merchant account. This merchant account allows you to accept credit card payments quickly, but the merchant needs to pay the transaction processing charges. These charges might affect business sales revenue for a new and small business owner. But now businesses can accept credit card payments without a merchant account. Quadrapay has all types of business payment processing solutions. You can get the desired processing solution according to your business needs.
Third-Party Payment Processing Solution To Accept Online Credit Card
A third party payment processing solution is also known to be as payment aggregator or payment facilitator. This allows a business owner to accept credit card payments from customers easily without setting up an individual merchant account. This aggregated merchant account services includes several sub-merchant accounts. All these accounts shared among various business owners under a single MID merchant account. The payment aggregator will collect all the funds on behalf of business transactions and further processes to the acquiring business bank account. Any industry, whether it is B2B or B2C, can take advantage of the benefits provided by the aggregated merchant account.
Why Choose Aggregated Merchant Account?
There are several benefits associated with an aggregated merchant account to accept online credit cards. It is very much beneficial for a small business owner who is new to the market. This will help them to lift-out from the ground without paying that much at initial. Later on, it will be easy to switch to a merchant account according to the processing volume if the business merchant wants to expand the business. Some of the significant advantages of aggregated merchant account are:
- Simple Application Procedure: The application procedure for an aggregated merchant account is very simple and straightforward. Just need to fill the application form and submit some required documents to complete the verification procedure.
- Quick Approval: The best part of the third-party merchant account is that a business merchant gets fast approval to accept an online credit card with the help of a sub-merchant account. If a merchant submits the application form with all the required documents, the application will get approved very quickly.
- Less Processing Fees: If the merchant opts for an individual merchant account, they need to pay a lot of fees to process the payments. This can be beneficial for a large volume processing business merchant. But in the case of a new business merchant who starts a business either online or offline can go with an aggregated merchant account easily. This will allow the business owner to enjoy all the processing services at very affordable processing fees. Later on, if a merchant wants to expand their business with large processing volume, they can easily switch to an individual merchant account.
- No Long Term Agreement: Generally, an aggregated payment merchant does not require to have a long term agreement. So it is best to startup from the ground to the sky with this processing solution. As the business sales grow, the merchant will have the option to either continue with the same or switch to a merchant account according to the new processing volume.
We at Quadrapay always provide our business merchants with the right processing solution that they need. If you want to know about how to accept online credit card for your business, contact us at [email protected].