October 12th, 2015 by Elma Jane
Setting up a merchant account.
- First find a Merchant Service Provider.
- Then setup your Business Profile.
Put together your business profile so you can start applying for a merchant account. There are questions that you’ll need to answer, that way merchant account providers have an idea of how they should setup your account.
Some of the questions are:
- Is your business seasonal? For Travel Company it is seasonal, there will be high and low volume. NTC works with seasonal downtime.
- How do you intend to accept payments? Different business models require different methods of accepting payments. If you’re doing face to face transaction and have physical location then you need a credit card terminal. If you process checks, then you need Electronic Check and ACH Transfers. For e-Commerce shopping carts, wireless/mobile, you can check out our Converge Virtual Merchant and NTC e-Pay.
- How much volume do you plan on processing? Merchant account providers are going to want to know how much sales volume you plan on processing per month. New in the business – give just an estimate average of how much you’ll be processing (per month), within the first 6-months of operation. Been in the business – you’ll already have this number ready.
- What will be your average ticket price?
Example:
Total Sales Revenue = $150,000
Total Number of Sales = 500 150,000/500 = $300 (Average Ticket Price)
If you need to setup an account give us a call now at 888-996-2273 or go to www.nationaltransaction.com to know more about our services.
Posted in Best Practices for Merchants, e-commerce & m-commerce Tagged with: ach, Converge, credit card terminal, e-commerce, Electronic Check, merchant account, merchant service provider, NTC e-Pay, payments, Travel Company, virtual merchant