Merchant Account for Timeshares, Advertising & Resale
Ecommerce is the way business is being done these days. It is part of the revolution that has been ushered in by the invention of computers, and it utilizes the internet to facilitate transactions and trades. Recently, ecommerce has surged in popularity because of several reasons, but the biggest reason is that it significantly reduces the time taken for the transactions to be completed.
Another reason is that ecommerce is incredibly safe as compared to other traditional and conventional methods. Traders and merchants can easily transfer large sums from their account to other accounts and complete complicated deals within a few seconds.
Due these reasons, more and more businesses and merchants are relying on ecommerce and conducting their business online.
This has led to a significant change in the way business is done nowadays and forced the hand of merchants and businesses as they have to make the decision of adopting ecommerce or lose a large amount of business to other players in the industry. So how does a startup or a well-established business become ecommerce friendly? Simple; they get a merchant account.
Denied or Closed by Other Credit Card Processors?
Although setting up a merchant account could sound relatively easy at first, it's actually a very painstaking task that your business will have to deal with. A merchant account is basically a method of accepting payments from your clients via credit and debit cards. As a majority of fund transfers these days take place using these cards, businesses and merchants feel the need of owning a merchant account. However, credit card processors and banks aren't always that generous and may end up rejecting your advertising, rentals, classifieds, deed transfer for timeshares application for a merchant account if they deem your business as high risk.
Risk Analysis of the Timesharing and Advertising Industry
Merchant accounts are crucial for startups offering their services in timeshares, advertising,deed transfer,rentals, and resale. Since this niche is considered a high-risk venture, most of the banks will refuse to set up a merchant account for your business. Although that may seem unfair, all the credit card processors are well within their rights to reject or accept your application without having to justify their decision.
This can prove to be very disappointing to most retailers working in the timeshares and advertising industry. To help these businesses, there are services that offer a merchant account to high-risk businesses.
To make sure that the process of setting up a merchant account is not an ordeal for you, this service offers a lucrative deal to high-risk businesses such as that of timeshare, advertising,deed transfer,rentals, and resale.
Setting up a merchant account is more of a challenge for newly established organizations, and there's no doubt about that. The first hurdle is the application process for a merchant account as it is quite complicated and even after you have completed the application process, there are no guarantees that you will gain a merchant account afterward. You may even have to pay application fees that will go to waste if your application gets rejected. Credit card providers often deny merchant accounts to retail agencies working in the timeshares, advertising,deed transfer,rentals, and resale industry.
Granted that these agencies are deemed high-risk outlets, that is not reason enough for your business to be deprived of a useful merchant account. To make sure that you don't lose a significant part of your clientele just because you do not have this account, this service offers the chance to make the task of securing a merchant account as easy and swift as possible.
Type of Merchant Account Required
The most important aspect that your advertising,deed transfer,rentals, timeshare and resale agency needs to consider is recurring billing. If you have a clientele that you have to charge on a weekly, fortnightly, monthly, or a bimonthly basis, you will require subscription-based billing services so that you can automatically bill them for advertising and promoting their business.
This is arguably the most important service that you can avail by getting a merchant account for your agency as you won't have to perform the task of making a bill and sending it to your customers every week or month. Recurring billing serves as an effective way to make businesses more convenient for your agency and customer. It also helps you establish a constant flow of income.
Agencies operating in timeshares, resale, and advertising also require an effective payment gateway. This virtual terminal or gateway makes it possible for your agency to receive payments directly from your clients via online transfer. However, virtual terminals and payment gateways are different entities completely. The payment gateway permits your customers' funds to get to your bank's processor, while virtual terminals permit you to access your account so that you can manually enter every transaction.
Domestic and Offshore Options
Another important aspect that agencies in advertisement and resale should consider is the domestic and offshore banking options and their pros and cons. While most agencies in this industry go for domestic banking since they offer better security and lower rates, that doesn't automatically mean that offshore banking accounts won't suit your company.
You shouldn't discount offshore accounts right away as they are often necessary for several business transactions. Before you choose between domestic and offshore accounts, it is important to assess both the options and select the one that is fit for your business model, your clientele, and your operation.
Payment Gateway Options to Consider
It is true that the industry of timeshare, advertising,deed transfer,rentals, and resale has many subtleties and complications, which you will have to understand if you want your business venture to gain a reputable presence in the market. Selecting an option that is fully aware of all the aspects of your trade is important when it comes to merchant account services.
Make sure you are opting for a service that puts the needs of its clients before everything else. A service that has experience in dealing with timeshare and advertisement agencies will be more suited to handling your case. A merchant account service that offers quality service, best rates, and customer satisfaction should be your only viable option.