Guide to Finance

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Free Online Merchant Account

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And in the world of business, mistakes are made on the way to success that can either hinder or delay the "planned success" of a business and never has this been truer than for an ecommerce business. Merchants are too quick sign contracts or agreements from ecommerce "helpers" such as free merchant accounts.



Free merchant accounts are not the culprit here. And this wasn't meant to point a finger on who's to blame.

Before entering into any business – whether retail, MOTO, or Internet – agreements & contracts are always present. Some merchants who see free on the paper don't account the fine print on the contract. That's one of the downfall of merchants. After a month or two, they go running back to their providers with contracts in hand, only to admit defeat that they have no escape from the dreaded contract.

So what are the common mistakes merchants make when getting a free merchant account? Educate yourself on some you can easily avoid:

They don't look out for hidden charges/fees

As long as summer days are long, and nights are short, so will anybody who's ever been in business has to make money – and free merchant accounts providers are no exception. It's sooo cliche, but there is seriously no such thing as free lunch. Merchants can avoid committing this mistake by asking for all charges and fees they might incur when they start processing. This includes but isn't limited to the discount rate, transaction fees, and monthly processing fees.

They don't poke around the FINE print.

Our rates are FREE! Often, just a mention of the word free and anyone in the FREE world will scurry to see what they can get without giving. Unfortunately in business, this isn't the case. Some can give you free coupons but you have to buy the whole newspaper, or get a free lunch but pay for dinner – the point being merchants easily see the word free but they don't poke around the FINE print. If there's another word starting with F that merchants should be wary of – it should be Fine with the word PRINT to follow.

They don't ask when they can access funds

Your merchant account provider should free you of restrictions when it comes to having access to your funds/revenue 24/7/365. Start scouting fast for a new one if they impose restrictions.

They don't make a background check of the company

Everywhere there's a thief. It's up to you to make the necessary precautions. Whether it's a credit card processing provider, a payment gateway, or a shopping cart, always make background checks. The features of Web 2.0 has made the world a smaller place, as well as placed consumer information within reach. Easily you can get free reviews of merchant accounts, payment gateways, the latest news on celebrities, and what-nots within seconds!

They don't look for freebies

Although there is no such thing as free lunch, there is such a thing as appetizer! Consider the freebies offered by free merchant account providers as appetizers – free setup, application fees, monthly fees, etc, depending on your provider, can be tasty and make you want to get ahead with the whole meal – or service. Of course, as a merchant you should always be on the look out for providers who normally change their freebie offerings from time to time and take the best deal out there.

When you get an offer sheet, it helps to be a bit skeptical. Don't look at it with doe eyes – innocent and believing every word spouted by the agent. Knowledge is also powerful – with it, you can attack the agent with a barrage of questions. If you feel they haven't successfully answered your questions, then start shouting... NEXT PLEASE!

It's your business after all.
Free Online Merchant Account
Once in our lives, we've made a trip to the shrink(since our friends would be too tired to listen to us rant) or hired the services of a life coach. Some may shirk away from the idea of having somebody coach our lives, or listen to us rant about things private to us. However, this “i have an appointment with my shrink” has also translated itself to the ecommerce market. Let's just say they've gone bigtime and have been offering to online consumers as well.

If you're a life coach, you can double your revenue, possibly make it more convenient for your patients to benefit from your products and services. How? Through a free merchant account.

Here are ways to maximize the capabilities of your free merchant account:

1. Offer to other countries

Having a website alone isn't enough. Offering your services online to your countrymen as well as to other interested customers outside of your borders can prove rewarding financially and work-wise. You get to tackle the different situations of different customers located in different parts of the world. A free merchant account can accept their credit card payments for your services.

2. Recurring billing

Ever heard of recurring billing? Like most life coaches, you send out different newsletters, and a host of products and services to your customers. They can opt to pay at their convenience with recurring billing. Recurring billing automatically charges your customers' accounts for fees to products or services they've subscribed to. They don't have to stop by your clinic, or miss a monthly payment. Your free merchant account can deal with that for you.

3. Sell your ebooks online

Selling your books has never been easier with a free merchant account. Simply promote your books on your site and your customers can make purchases with their credit cards. No more waiting for check payments and you don't have to deal with fraudulent characters who make purchases and run.

4. Audio

As much as life coaches are great in giving advice, sometimes the written word cannot compensate for the spoken word, hence the rise of podcasts and audio recordings. You can offer audio recordings of stress-relieving meditations easily. Send to their emails and receive payments by offering credit card processing on your site using a free merchant account.

5. Real time consultations over the net

This one's pretty new. Offer one on one webcam consultations over the net for your customers who aren't in your area (or if they don't feel like getting off the couch). Charge by the minute or by the hour. They can simply pay via your free merchant account, and you get their payments in your bank account.

6. Pre booking of seminars

You've got a seminar in Denver, or a bootcamp in Chicago and you've still got a couple of people from other parts of the globe clamoring for you to have seminars in their area. It's a big risk for you to just go there, and not have anyone fix the seminar details for you. However, if you have pre booking of seminars on your site, it can be easier for your team to finalize locations, and other details for your seminar. Case in point: If you only have 3 people who have pre-booked a seminar in a certain place, you can cancel the seminar or make necessary changes to it easily. By paying for the seminar fees via your free merchant account, they are already signifying their intent to attend your seminar – and whether they show up or not, you've already been paid. Reduced level of risk for you.

Life coaches deal with different situations. And they deal with people in different locations. Having a website can allow you to widen your network, gain more revenue, and help more people in the process.
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