Your monthly sales are up. The demand of is growing, so you produce more. You're on top of the world. What's next? A high volume merchant account.
If your business has monthly volumes costs more than $10,000, then your business is considered as high volume.
Normal dealings
Since you have a business that accepts credit card payments, standard procedure tells you to open up a merchant account. When you have a merchant account, you throw in a couple of cents per transaction that comes in. So the charge in the transaction fees section of your monthly statement depends on how many transactions come in. let's look at the pros and cons, on one side, it feels good to see that you have a high amount of transactions, which means business is doing great. But you will also pay a lot for the merchant account statement bill because of the per transaction fee charge.
Balancing act
Opening up a high volume merchant account can balance the situation. Through this kind, you will be able to acquire reasonable rates on mid and non-qualified sales, and alongside the other additional fees. What happens is you'll get lower rates for your per transaction charge, so even if you have a high volume sales, you won' get headaches over the transaction charges. Sadly, thus type of business is also considered as high risk because of the high percentage of chargebacks and refunds, so, where do you go to get stability and security, you go for an offshore merchant account.
Learn how to maximize your high volume business with a high volume merchant account by reading the whole article:
High Volume Merchant Accounts- Avoiding your Business to Blow Off into Nonsense Proportions
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