After being in business for 90 days, Jimmy decided that he would look into the option of accepting credit cards. His initial thought was to function as a cash only business where he would accept money orders and even checks, but after having 3 checks come back to him stamped NSF, he decided that he was not going to take any more chances with his investment. He called around to see what his options were, but it did not take long before he realized that it would be difficult for him to get a credit card merchant account. Part of the problem was that his small business was dealing with magazine sales and as busy as he hoped to be, it was considered as a high risk establishment.
Any business venture you get into will need to be able to accept some form of payment, if you plan on doing business on the Internet then credit cards are an essential part of that process. Being able to receive a credit card payment is a whole lot more certain as a form of income than a check that may or may not clear. Companies that accept credit cards have found that their business venture is that much more successful than others who do not. Deciding which credit card company you want to deal with may not be your biggest problem, the fact remains that if you operate a business which is considered as a high risk like prepaid debit cards or timeshare advertising, then you may need a little assistance when it comes to being able to accept a credit card online.
Ever since companies began to accept credit cards as a form of online payment it made life a whole lot easier for people like me. The ability to use either a debit or credit card has made it easier to complete a transaction without even having a representative on the other end of the phone. Having a bank account is one thing but that only covers the handling of funds in and out, it does not cover the customer being able to pay for his/her product. As a business owner if I could not obtain a regular business account I would be quick to turn to any other option available to me and if that required the services of a high risk merchant account, then so be it.