Retail Merchant account providers for small business are best suited for the business that requires transaction processing at the time of sale and categorized under Card Present Merchant Accounts. Merchant Stronghold can set it for your business anytime. It is sometimes referred as CP or Card Present account, it serves as the foundation for rate structure.Retail Merchant accounts need a smart, solid and fast process at the time of sale. Common examples of this type of transition are the swipe or contactless payment system. A credit card is present when the product is purchased, and because of it there is less chance of fraudulent transactions too. Because of less risk, low rates for such card present merchant accounts are best available.
Things you should know about Retail Merchant Account
It is obvious that having credit card present when the transaction is being processed will reduce chances of fraud. But there are other variables as well that should be considered when going for a retail merchant account.
One example can be the Volume of Transaction and Average Ticket Size. Consider someone is selling jelly beans or any other product at a mall. The sale of this business will relatively be moderate having low average ticket size. If someone purchases couple of dollars of beans, then there won’t be any big risk to the merchant. Chargebacks and Product returns will not be the concern of business owner. But if average ticket size increases, the risk of chargeback and product return will also increase. If the price of the product is increased, means customers value the quality of the product. Retail Merchant account in this situation can save you because you will be safe from frauds and high risk. With the POS system by Merchant Stronghold, retailers will accept payments safely and securely.
We provide quality services and support to the merchants and their customers. Getting a merchant account is just the first step towards success. Merchant Stronghold has safe, secure, and quick processing architecture that is best in the world. Start your Merchant Application Today!