If you want your business to keep up with the rising demands of your cashless customers, having a merchant account is a necessity.
Essentially, a merchant account is a bank account that allows you to accept various payment types, including credit card payments. Merchant accounts also provide other advantages, such as the ability to accept various currencies, increased security, and improved money management.
One of the best and most affordable ways to open a merchant account is to work with Infinity Payment Systems, an experienced provider of payment processing solutions in Wilmington, North Carolina. We offer a simple, integrated solution for all of your merchant account needs.
Not sure if opening a merchant account is the best option for your business? Here are some of its advantages that you should consider:
- The ability to accept payments in various currencies
One of the major advantages of opening a merchant account is that you can accept various currencies. This feature enables you to reach customers throughout the world, allowing them to make payments in their local currency. This can significantly improve the payment process experience for your international customers. Remember, the easier it is for your customers to make payments, the more likely they are to return.
- The ability to accept credit and debit card payments
When you open a merchant account, you will have the ability to accept both credit and debit card payments. This is becoming a necessity as more and more customers expect to be able to make payments using cards – both in-store and online.
In fact, one study shows that customers tend to spend more money when using a credit card, compared to when paying in cash. Another study shows that 83% of small businesses who started accepting debit and credit card payments saw an increase in sales. So, if you want to increase your profits, opening a merchant account and accepting card payments is a great way to do it.
- Improved money management
By using a merchant account to accept digital payments, you can easily stay organized and manage your cash flow. As a leading source of transaction processing in North Carolina, we can send you detailed statements of all transactions, including the payment methods and currencies used. This makes it easier for you to handle your taxes and monitor your profits.