What is a virtual merchant account?

What is a virtual merchant account?

A virtual merchant account keeps your business current with customer credit card processing needs in the Internet age. All your business needs to operate a virtual merchant account is an Internet connection. Credit card sales can be performed in a retail setting, at a remote location, or integrated into your existing business Web site.

Any type of business can use a virtual merchant account. Because the platform is all-inclusive and handles the verification, processing and documentation of all transactions, a virtual merchant account is ideal for mobile businesses, and for making bricks-and-mortar businesses more flexible when the need arises.

Here are just some of the ways different businesses can use a virtual merchant account:

• Retail stores: From golf shops to convenience stores, any storefront utilize credit card processing.
• Food service: Businesses that rely on deposits and full payment upon delivery, including caterers and bakers, can rely on a virtual merchant account for seamless payments.
• Professional services: Doctors, lawyers and other professionals can integrate a virtual merchant account into an existing computer or laptop.
• Delivery services: Businesses that deliver food, flowers, packages and furniture can use a virtual merchant account for credit card processing.
• Mobile auto services: Everything from mobile auto glass repair shops and car detailing services can take immediate payments at the site.

Credit card processing can happen immediately and in any situation with a virtual merchant account.

• Daily use: The platform can be used for all credit card transactions and batch closings.
• Off-site sales: With a virtual merchant account, your business goes with you. The account offers convenient credit card processing at local festivals, concerts or convention trade shows. Enabling interested customers the instant gratification of buying your product or service when their interest is at its highest will decrease the number of "maybe later" sales that happen when customers need to part with cash or take time to write a check.
• Online sales: Integrate your virtual merchant account into a primary Web site and any other domains you own to start processing secure credit card payments.
• Phone or catalog orders: Quickly process more phone and catalog orders with a virtual merchant account.

• Boost your bottom line: According to PricewaterhouseCoopers, adding a credit card processing option to your business can triple sales.
• Easy refunds: Should the need arise, easily make a credit card refund and keep a customer happy.
  
• Automatic, recurring billing: A virtual merchant account makes it easy to set up repeat billing for credit card processing, keeping today's customers buying from you tomorrow.

Published: June 30,2023