That’s where merchant processing comes in. Instead, they need a merchant processing account that serves as an intermediary between their customers’ bank accounts and their business bank account. Unfortunately, businesses can’t start accepting credit and debit cards independently. You'll lose business if you don’t have an efficient system for online credit card processing. Instead, most customers pay with cards (76% of consumers have at least one credit card), and just 10% complete their purchases in cash.įor business owners, this means one thing:
Today’s customers aren’t paying in cash, and paper checks have become a rarity since they’re too time-consuming and inefficient to be anyone’s preferred method. What Is Merchant Processing? Merchant Processing 101
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