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Grow Your Internet Business with a Merchant Account

Keller Hawthorne | June 30, 2010 | 9 Comments
Growing Your Business
Grow Your Internet Business with a Merchant Account

Many business owners realize they have to accept credit cards to stay competitive, but they don’t necessarily know why credit cards offer advantages to consumers. The ideas from this article could be turned into messaging that you could insert into your marketing copy, whether it is on your website or at a brick and mortar location.

The following sections will explain why your Internet business should accept credit cards.


Consumers in the present day are use to convenience and efficiency when shopping. Credit cards allow a shopper to reduce or eliminate the need to carry large sums of cash around. Cash can easily be stolen and most often is never returned. Credit cards are safer because the large sums of cash that would be carried around are sitting in a secure bank, and if a credit card is stolen, it can be canceled at any time.

Since security is a concern, most credit card issuers offer buyer protection programs. These are essentially warranties, guarantees, and other protective measures on top of the manufacturer warranty/guarantee for a product. This can add comfort to a large purchase that has the potential to be defective.

Consumers are also protected against fraud by credit card companies. The companies can often recognize fraudulent charges on a credit card and immediately freeze an account until the purchase is verified. There have been studies that have shown that shoppers trust companies more who accept credit cards, since there is an application process for businesses to qualify for a merchant account.

Buying Power

For large purchases, many people turn to credit cards to space out payments over several months. There are several advantages to this – they do not have to come up with a lump sum at the time of purchase and they can stay within their monthly budgets with their credit cards. Companies that offer more expensive products should consider offering a monthly payment system, if they haven’t already.

The customer loyalty programs that credit card companies have started really encourage consumers to shop with their credit cards. If a shopper earns enough points they can earn rewards or even cash back! An example of this is frequent flyer miles. It is one of the best ways to retain customers.

Credit card companies also offer coupons and codes for discounts on purchases at selected retailers. You could potentially partner up with a credit card company to offer these coupons. The best part for a business is that you receive the full sale while the credit card company absorbs the discounted fee.


If you have an online business, it should be obvious that you need to accept credit cards, since 90% of online businesses accept them. Most consumers expect this when shopping online. It establishes your legitimacy. You’re not going to be able to compete if you don’t open up a merchant account today. One particularly popular online merchant service is PayPal, which is owned by EBay.

Merchant accounts provide many benefits to businesses and consumers, which is why business owners should be thinking about the current status of their merchant accounts. If you haven’t by now, you are missing out on a gigantic sales channel.

ABOUT THE AUTHOR: Dan Lewis is an experienced restaurateur familiar with credit card processing services and how they can benefit businesses. Dan graduated from the University of Arizona’s Eller College of Management.
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