To let your business do efficiently online transactions with great ease, Merchant accounts are used. There are different types of accounts designed for specialty businesses when it comes to merchant account and the first in this category is a grocery merchant service account that is specifically designed for locations that sell perishable food and no gasoline. Such type of account does not have to be a large market but it does have to meet the guidelines. These accounts are generally considered very low risk and have very low fees.

You can also go with Lodging accounts that are for those businesses that are within a hotel or motel or other unit where customers spend the night. They have much higher rates than most card present locations and this occurs due to the fact of various incidental charges that can be accumulated during a customer’s stay that may create the card to be declined at the final point of sale.

One another type of specific card present merchant account is the restaurant merchant account that allows the restaurant to authorize the customer’s card and then go back and adjust for gratuity. Such kinds of restaurant accounts can get a bit tricky to use and could end up costing the restaurant on high tip amounts. Because of such terms it is very important to consider all these options before signing up for a restaurant processing merchant account.

You may also have the options of card not present accounts with your merchant accounts and this is exactly the same as it sounds the physical card is not present to the vendor when they take the debut or credit card information. Such account would be the main type of account for all Internet based business along with telephone sales and mail order business. It is not possible to guarantee the cardholder was present when the order was placed with the card and the only method you can prove that is with card present accounts as the customer has to swipe the card in the vendors process and can be asked for the identification if needed.

Different Types of Merchant Account

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