The Easiest Way For Startups To Get Approved For A Merchant Account
It is not so difficult to get a merchant account for a startup business. Startup entrepreneurs can opt for various payment processing solution according to business requirements. It is essential for the company and the Industry to be legal and supported by the credit card processing industry.
Sometimes it may difficult for entrepreneurs to understand which payment processing solution would work as the best one. To move out of such a situation, you need a consultant who can suggest you reliable payment processing solution. The best suggestion for startup entrepreneurs to go through merchant services reseller company like Quadrpay. We work with multiple payment processors at the global level and have vast experience in the payment processing industry. The team at Quadrapay knows it very well which payment option would be best for your business. We can also help merchants with low processing fee structure that includes discount rates, rolling reserves and arrears. Startup business owners can get multiple advantages with Quadrapay in following way:
- Startup business owners do not have to pay any upfront charges in setting up a merchant account.
- It can be challenging to get a payment processing solution for startups, but Quadrapay can make it possible.
- Startup merchants can get approval for a merchant account within 3 to 5 working days.
- Business owners can also get free integration support for various payment processing solutions.
Startups Get A Merchant Account Now. The Easy Way.
Business documents play a crucial role in the merchant account approval process. These documents are essential to start an online business comprehensively. The underwriting team looks at these documents to evaluate risk and genuineness of business before approving the merchant account. Merchants must have a business bank account in which funds will be settled. Apart from these requirements, business owners must also have a website which should clearly show the actual business model. Following are the list of KYC documents which every merchant should have. These KYC documents must be sent to a processing company for the underwriting process.
- Business License or Certificate of Incorporation
- ID and Address proof of business owners.
- Utility Bill of all directors
- Cancel check of the business bank account.
Above KYC documents are usually required for the underwriting process, but some payment service providers may ask merchants for additional docs for specific industries.
Website Compliance For Startup Merchant Account
- Merchant’s website should have an SSL certificate. It helps in building trust factors in the minds of payment service providers and customers as well.
- Products and services should be visible on the merchant’s website.
- The toll-free number and customer support email id should be there on contact us page.
Above are the factors that can help merchants in getting approval for a startup merchant account. Business owners can also use ACH and echeck as an alternative mode of payment processing. Accepting payments with ACH and Echeck is quite cheaper than taking credit cards. The transaction fees for these alternatives is inexpensive. Customers from the USA can quickly pay by echeck and ACH.
If you need more detailed information about how the team at Quadrapay can help you with a Startup Credit Card Processing account, then feel free to send us an email. Our email address is [email protected]