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How many Payment Processing services for a merchant account?

How many payment processing options should a merchant account provider offer to the merchants? Is credit/debit card processing good enough or should other payment options like Ach processing, direct debit etc should also be provided?

Public Comments

1. Well, it is better to have all the possible payment processing methods available namely; credit card, debit card, check, electronic check, and wire transfer. If you can offer all of these, then, you can cater to all the needs of merchants. I also, suggest that you offer unlimited volume transaction so you can cater to high volume businesses. Ideally, you've got to offer five.
2. yes definitely! so there's credit cards, checks, ach transfers, direct debit and business to business transaction
3. It depends on your very own business needs.You must first identify your market.Then identify your product or services. Who are your customers,and how are you going to market to them. For example, if you re a internet business you will need a gateway...secured server with checking acct. ach....normally this set-up allows for credit,debit,and check service.That should be enough. However,if you are a retail merchant with average ticket items of $20.00 or more,then you should opt for a all-in-one terminal these terminals are able to process credit cards....debit cards and with a pin pad, your fees will be cheaper than accepting them w/o a pin pad.Also,check guarantee can be programed free, in most cases along with associated fees.A fast pay reader can be added,for faster customer transactions. Now,if you are a business to business merchant, methos of payment should be considered. corporate credit cards are transacted at a higher rate...this could amount to huge fees, needlessly.Be sure your processor and your terminal (get a new one...more capabilities and easier) have you set up to know this difference about corporate cards. And when dealing with large corpoation, many small business owners find themselves cash poor without working capital,because most large enities perfer to receive your goods upfront and pay you in 60 days.This is the biggest obstacle for a small businesses trying to attract big customers...................................If this is your situation,then a bank line of credit,sell your accounts receivables,cash advance against a fixed amount of fture credit cards sales, or ask uncle sam for a SBA Loan or Grant. Sincerely, Tom Livsey tlivseyflnbyaoo.com p.s. if you need a merchan account..I'll only let you get what you really need,good luck.rate me