The most important upfront application question

When applying for a merchant processing account, the absolute most critical upfront question that you will be asked is how much volume do you anticipate processing and what is your highest transaction amount. Very often new business owners have difficulty answering and projecting these figures. Here is some understanding as to why these are so important. When you are applying to accept Visa and Mastercard the approval bank needs to understand the risk of your business. One of the risk components is your volume and high ticket amounts. Failure to properly estimate these figures can result in future account requirements and even account closure. It is our #1 goal at BMR to set-up all accounts as accurately and as easily as possible.

Posted in Credit Card Processing Security, Merchant Application, Merchant Services Sales, Understanding Merchant Services on May 13, 2009 by Kathryn