These days more and more companies are leaving the traditional “brick-and-mortar” business model, in order to be more flexible for today’s economic situation.
In fact, I structured my own business as a virtual office back in 2008.
As a virtual office you basically have two ways of processing your customers or clients credit card payment information. You can go online and use a virtual terminal. Or you can process payments on the road.
Each has its own unique challenges and setup requirements.
Here we’ll focus on…
How to set up a wireless merchant account
Unlike traditional retail merchant accounts where there’s not much difference between the credit card terminals you can use, for wireless merchant accounts getting the right equipment and provider is absolutely critical.
Why is that?
The key here involves the wireless coverage area or network.
Though you certainly can process payments off-line that defeats the whole reason for wanting to use a wireless credit card terminal. In other words, the key for processing payments is getting a valid authorization. You want to make sure that your customers are able to pay and that they’re paying with a valid credit card.
And that’s the whole point.
So definitely check to make sure that their coverage area will work for you.
Next, check with the merchant account provider you are speaking with to see if they have any credit card terminal programs. Though some processing companies do have free equipment deals you’ll want to make sure that there are no strings attached.
Ultimately this may save you a few hundred bucks on a wireless terminal.
Finally you want to make sure to check on the additional wireless fees you’ll have to pay.
These typically involve an additional monthly fee for the wireless service as well as possible additional transaction charges for each payment you process.
Some providers also charge early termination fees as well as “sneaky” terminal lease programs that can lock you into 48 month lease term, or more, with no provision to cancel early.
You’ll want to avoid these fees at all costs.
As long as you follow these tips you should be in good shape when it comes to setting up a wireless merchant account for your business.
I hope you found this information helpful. Please feel free to share your comments below.
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