US Merchant Account

The United States of America has, for a long time, been the place that credit cards have been processed for the worldwide e-commerce market. The banks in America were the first to issue the card that has become known as the credit card and to provide the means of processing these cards to retailers around the world.

When purchasing goods and services on-line took off, it is not surprising that the US banks immediately stepped up their game and commenced proving services to the electronic world for processing payments.

It is important to note that a US Merchant Account is entirely different from a Merchant Account held in another country that accepts payments in US dollars. The US Merchant Account is an account opened on a bank in the United States and can accept payments in any currency.

International retailers do not qualify for a US Merchant Account if they do not have a business incorporated in the US, a US address and a US Tax Number. The first thing that a person wishing to open a US Merchant Account is that you have to do is establish a business presence in the United States.

This is not a simple process. It will be easier if you work with an internationally based service provider with the necessary contacts in the United States that will assist in acquiring the required legal status in America so you can open a US Merchant Account.

What should you look for in your US Merchant Account? It is essential to have a good relationship with your service provider, especially for a start-up. Look for three things security, flexibility, transparency, and adaptability.

Security for yourself and your customers must be paramount. Ensure that the service provider has the latest security measures in place within their Gateway and that they can guide you through the pitfalls around internet fraud and credit card manipulation. A security breach could well spell the demise of your start-up, so pay attention to the security issues.

Ensure that your US Merchant Account service provider has a flexible range of payment options. You will need the facility to accept credit card payments as well as debit cards, mobile payments, and digital wallets. They must also provide for MOTO transactions and be flexible enough to allow you some leeway as to how you transact your payments.

You do not want to get surprises at the end of the month when the account for that month's charges comes through. Scrutinize your contract carefully for hidden fees, excess charges, and any terms that you do not understand. Be clear that you want the terms laid out in simple, concise language that is easy for you to follow. In a similar vein, queries to the vendor's customer service personnel should be answered in a simple, clear manner with no obfuscation.

The service provider must understand your business's needs and be able to tailor their offering to meet the revenue that you can manage on a month-to-month basis.