In order to do business online, you need a merchant account. With minimal requirements, low fees and a variety of merchant account and payment processor solutions, you’d be hard-pressed to find an account better than the ones offered by Obanc. Reach out today if you are looking for a merchant account in Tampa.
What is a Merchant Account?
A merchant account is a certain type of bank account that provides a connection between a merchant, a payment service provider, and an acquiring bank. An issuing bank issues a credit or debit card to a cardholder. The card can be used to make purchases online. With each purchase, a payment request is sent to the acquiring bank through a payment gateway. The acquiring bank then sends the request through the relevant card scheme, then back to the issuing bank for authorization. Once authorized, the merchant can deliver the goods his/her customer paid for.
Merchant account holders are required to abide by the rules and regulations set by the card schemes Mastercard and Visa. Fees and commissions for getting connected and processing payments vary greatly per service provider. Obanc proudly offers the lowest rates in the industry with stellar support and POS solutions to boot. Feel free to research and compare numerous payment processors before committing to one. You should choose the payment processor that compliments your business needs best.
Why Do I Need a Merchant Account?
You need a merchant account because it allows you to legally accept and process payments online through all online payment methods. Without a merchant account, you will not be authorized to make transactions on the Internet.
What are the Benefits of Having a Merchant Account from Obanc?
While there are numerous benefits to having a merchant account with Obanc, one of the most obvious benefits is that you will be able to provide safe payment options to your customers and protect their sensitive data. Just as important, you’ll also be able to protect yourself from fraudulent transactions and chargebacks.
The Application Boarding Process
Before getting connected to a payment gateway, your application will go through the boarding process. At Obanc, we typically approve or deny applications within 24-48 hours. If we need additional information or supporting documents, we will let you know right away as we are aware that you are ready to get on with your business. Obanc quickly screens your application, runs a risk analysis, and prepares your paperwork to get you connected ASAP.
What Sets Us Apart?
Aside from the facts that Obanc can accept every type of cashless payment, provide customized POS solutions, and give you the lowest rates in the industry, we can help you with marketing. We can help you with SEO, Web development, network consulting, and more. Obanc is a one-stop shop for all of your setup needs. We’ll get you up and running and even help you acquire new customers. If you are looking for an affordable and high-quality merchant account in Tampa or would like to learn more about online payments and payment gateways, contact Obanc today.
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