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What Small Business Owners Should Look for in a Merchant Account Provider – Pt. 2

Posted on 28 October, 2014

What Small Business Owners Should Look for in a Merchant Account Provider - Pt. 2

Merchant accounts are a necessity for any business that wants to flourish. Small businesses need merchant accounts so they can compete with large businesses. A reliable merchant account provides a business with the ability to process credit and debit card transactions. Just having that option can drive sales from people who would not normally use the business. The following are some key points for a small business owner to consider before he or she chooses a merchant account provider:


The first element a business owner will want to review is a merchant account provider’s requirements. The company may require the business to have a checking account, a fair refund and exchange policy, a tax ID number, and a physical location that is in the United States. Some companies may require proof of financial stability such as bank statements, or they may require utility bills to prove that the business exists.


Fees are an element that a small business owner will want to pay close attention to. The fees that one might accrue with a merchant account provider can cause great losses if a company is not careful. The business owner will want to examine several companies for costs such as setup fees, annual fees, per-transaction fees, chargeback fees and more. The goal is to find the provider that offers the lowest fees or the least amount of them.


Availability is important for a customer of a new merchant account. The person will want to have 24/7 access to people who can answer questions and help with the services. Customer issues will arise, and a busy business owner will need to have access to live support. Therefore, a small business owner will want to check on the customer service level of several providers.

Consumer Reviews

Customer reviews provide an overall picture of a merchant account provider’s integrity and professionalism. No small business owner should ever sign up with a provider without conducting extensive research, and reading consumer reviews. Consumer reviews and testimonials can offer up information about a provider’s fees, services, effectiveness and customer service style. A business owner should be leery of companies that accumulate a large number of negative reviews. Providers with star ratings of three or more are likely the most reliable. Of course, keep in mind the content of the reviews. If complaints are coming from a merchant within a very different industry, it might not be relevant to your business model. Be cautious and put in the time and effort to dig up the truth.

There are a wealth of merchant account providers in the market today, so small business owners are not limited in their choices. Of course, at, we feel confident that we are the best merchant account provider. It’s important for customers to take the time to find the a reliable company like High Risk Pay to achieve smooth business transactions in the future.

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Bad credit merchant account credit card processing services

Accept all major credit cards

Regardless of Credit History!