A regular blog reader emailed us to ask our opinion on who offers the best merchant account service. Here’s our reply:

Searching high and low for a good merchant account provider can be a daunting task, even more so if you’ve set your mind to locate the BEST in the industry. The trick is to get several options in hand, and slowly narrow the list down to the providers whom you think are the ones that can really serve you well. In the long run, it will be quite affordable signing up with the right parties providing you have a need for their features.

For merchants involved in small ticket items, PayPal is usually the best way to go. However, there are arguments about whether PayPal really is the right payment provider as some merchants think that using them makes them look less professional.

So merchants who don’t favor PayPal usually opt to seek out their own merchant account providers. They are outfitted with a good shopping cart, payment gateway and also enjoy full integration with the help of the providers. Even merchants who are not very IT-savvy will find that handling the account is a cinch, and of course that’s with full support from the friendly providers themselves.

However one downside is that the merchant may need to spend a little more time filling in the application forms, which can be quite lengthy. Waiting time for a merchant account to be approved is also usually longer, but you can speed up the processes if you have all the necessary documents ready. Most merchants won’t mind putting up with this if it meant that they can save money in the long run – merchant account providers’ fees are normally less than PayPal’s.

If you want to know the best merchant account service provider, ask around your friends or better still, see who your rival is using! Sneaky? Perhaps but it will benefit you greatly! Choose one that has a good reputation because if you pay peanuts, then you get monkeys to do your work.

Good luck!

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