Facts About Inexpensive Merchant Services For Small Businesses

Inexpensive Merchant Services For Small And Startup Businesses

Now getting Inexpensive Merchant Services is easy. We at Quadrapay are working with our team of payment industry experts that will help you to get a low-cost credit card processing solution for your business. The approval procedure is also simple to understand as our merchant acquirers identify and analyze the level of risk and products or services being offered before onboarding any business merchant. There can be various factors associated with analyzing the risks involved. After analysis of the business merchant’s risk profile, the processor classifies the merchants under the category of risks, i.e. Low-risk merchant or a High-risk merchant. Those business merchants that are classified as low risk takes advantages of several services that are affordable features compared to those that are to be given to use with a high-risk business merchant account. Some of the features of inexpensive merchant services are like lower transaction processing fees, fast settlements times and smooth onboarding procedure.

Does A Business Merchant Need To Have Good Credit Score To Have Affordable Merchant Services?

In order to experience affordable merchant services, the primary requirement is that it should be a low-risk business. A high-risk business owner needs to pay higher processing fees for credit card transactions. This is because a bank is providing them merchant services at a higher risky side because of the type of business operation, geographical issues, business reputation and several other reasons.
If your business operation is not that much complicated or risky, you will be considered as safer, and a low-risk merchant account is provided to you. This account comes under inexpensive merchant services so that will provide you with several benefits of cheaper card processing solution to accept payment from customers. In order to furnish that you are a less risky business merchant, you need to mention about your business activities with the payment processor clearly. Along with that, it is also required to furnish your credit score and bank statements, past processing records showing all transactions and chargeback records. This will help the payment processor to evaluate and put your application under the right business category and provide you with the right suitable solution that will be beneficial for you.

Echeck And ACH Processing Solution For Low-Risk Merchants

Along with the card solution in inexpensive merchant services from Quadrapay, you can also take advantage of Echeck/ACH solutions. Those merchants that mostly accept payments globally, especially from US-based customers, can take several benefits with Echeck processing solution for your business website.

How To Get Inexpensive Merchant Services With Quadrapay?

The onboarding procedure for inexpensive merchant services is simple and straightforward. A business merchant needs to fill the merchant application form, which should mention all the required details of their business as asked in the form. This can include information about the business location, business owner, monthly processing volume and min/max ticket value and much more. After providing all the details, the form needs to be submitted along with mandatory KYC documents.
Without KYC documents, it will become a lengthy procedure to analyze and provide you with the right and feasible card processing solution for your business. Now especially for affordable merchant services, you need to furnish your financial records like recent bank statements, processing statements (if processing or had processed with a payment processor earlier). Some of the other mandatory KYC documents are Government approved identity (Passport or Driving License), Address proof of residence and business (Utility bills), Voided Check of the bank account in which you want to receive payments for your business.

For more information on Inexpensive Merchant Services, you can mail us at [email protected].

Suggested Reading




Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp