04 Sep

By ipaytotal

Category: Money Transfers, Payment Gateway, POS, Retail Merchant Account

Retail Merchant Accounts & Point Of Sale Terminals For Your Card-Present Business Comments Off

Retail Merchant Accounts & Point Of Sale Terminals For Your Card-Present Business

Retail Merchant Account

Ipaytotal – Retail Merchant Account Provider

What Is A Retail Merchant Account?

A Retail Merchant account helps retail stores and shops to accept the card payments at the POS system using a retail card swipe terminal. It is considered as a low risk merchant account since it is a Point of Sale Transaction where the probability of refunds and returns are low or less in the percentage of total sales. However, there are many High Risk Merchant Accounts.

However, A card not present transaction (CNP, MO/TO, Mail Order/Telephone Order, MOTOEC) is a payment card transaction made where the cardholder does not or can’t physically present the card for a vendor’s visual examination at the time that an order is given and payment affected. It is most ordinarily utilized for payments made over the Internet, yet additionally mail-order transactions via mail or fax, or via telephone. For this, a business owner shall require an Internet payment gateway instead of card swipe terminal to accept credit card on the phone, mail, internet, fax etc. Whether you are an established merchant account or a new business looking for opportunities would require an experienced merchant account service provider like Ipaytotal that has capabilities in securing and handling retail merchant accounts.

Fees For Retail Merchant Accounts

Fees and charges for retail merchant accounts are economic and competitive in this industry. However, there are various other factors which determine the account fees of merchant banking partner such as

  • Industry Type
  • Credit Card Processing History
  • Monthly Processing Volume
  • Average Ticket Size.

Merchant Account Application Process

Process for applying to merchant accounts has been very simplified these days. and The merchant account application process is quick and easy. First, you have to submit an application to the merchant account manager. Once merchant account manager receives your application, he will initiate the process to link you with suitable bank accepting your terms and needs of your business. Post receiving the bank’s approval, your merchant account manager shall send you POS terminal to your shop or store or office which will start working once you connect and initialize it with your merchant account. Upon connecting your POS terminal with the merchant account, you can start accepting credit card payments.

Merchant Settlement Schedules

Like your merchant account fees, numerous variables decide your merchant settlement plan. Each of our domestic acquiring banking partners has its own method of determining when you will receive your settlement. However, all banks consider the following features of your business.

  • Business and industry type
  • Monthly processing volume
  • How long you’ve been doing business
  • Credit card processing history
  • Chargeback and refund ratio

Most merchant settlements are daily, one or two days in arrears. Your IPAYTOTAL merchant account manager will inform you of your settlement schedule once the acquiring bank approves your retail merchant account application.

Credit Card Processing With Retail Merchant Account

When it comes to daily sales transactions, only a few industries are there that can outcome the retail industry in terms of volume of transactions happen daily. Hence it becomes necessary to offer as many as payment options to attract as many sales as possible. In addition to the number of payment options offered at the point of sale, it is also important to have the right tools to manage these payments in a secure and reliable fashion. With Ipaytotal, retailers have an advantage of various payment alternatives together with helpful retail focused tools to allow you to manage and run your business efficiently.
Customer satisfaction is the utmost objective of any retailer and is also the key to its business success. Venturing with Ipaytotal will help you to achieve this objective through our huge collection of credit card processing and other management tools. We have the ability for the fast availability of Point of sale equipment (POS) which are not only fast, secure but also are directly linked to our management and sales software. We have a solution for every business enthusiast whether he/she is a large scale business tycoon operating at multiple locations or small startup applying for a merchant account for its payment processing needs.

We are proud to provide retailers with:

  • Advanced chargeback management system.
  • Integrated Fraud Prevention Tool
  • Assigning a highly experienced and well-educated team, with more than a decade of experience in the industry.
  • Flexible payment options
  • Secure with full PCI

If you are looking for a Retail Merchant Account, you are in the right place, as IPAYTOTAL provides the best solutions for Low and High Risk businesses. We guaranty quick real-time credit card processing, top-notch services and at reasonable rates. Give us a call at +44 800 776 5988 or get in touch with us through our website.



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