A merchant account represents a payment option that is set up by a business through a local bank. The merchant account allows the payment through debit and credit cards, local and international; this offers the company the opportunity of concluding more transactions, as it widens its payment options. The merchant account can be used by both brick-and-mortar businesses and online businesses; depending on the country in which is set up, the merchant account may not be required for a brick-and-mortar company, but in the case of online stores, this is a necessary aspect, regardless of the jurisdiction, as the customers won’t be able to conclude cash payments. For example, when setting up a merchant account in Singapore, the company will be able to accept credit and debit cards transactions from approximately 150 countries, one of the advantages being that the merchant account can process payments in well known global currencies, not only in the local currency. Other countries, such as Estonia, accept credit cards from more than 160 jurisdictions. In other jurisdictions, such as Cyprus, the companies wishing to set up a merchant account that will accept international payments will need to select an international merchant account, especially designed for this purpose (the country provides several types of merchant accounts, depending on the specific activities of a company and the country in which it is incorporated). If you have an online business in Ireland, another option to explore merchant accounts refers to mobile phone payments, which increased in popularity in the last years, due to the fact that payment itself is processed very fast. Its advantage is given by the flexibility obtained by the customer, who can conclude the purchase at any given time, from any location. The main advantage of a merchant account is that the customers can conclude a certain purchase regardless of the daily schedule of your business, in safe conditions, as all merchant accounts have to provide a safe gateway payment software. Besides these advantages, it is important to know that companies can benefit from a simple registration procedure, which requires only several documents, but this…
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If you’re starting your own business, or even if you’ve been in business for a while, you may be wondering what your options are for structuring your company. There are a number of types of business entities, each of which works in different ways. Choosing the right one for your company may be the single […] The post Types of Business Entities and How They Work appeared first on SmallBizClub.
Starting your own business can be both challenging and rewarding. You want to make sure you get off on the right foot by choosing the type of entity that’s right for you and your business. To help you make the best possible choice, here are some factors to consider along with which business entity might […] The post What Entity is Right for You and Your Business? appeared first on SmallBizClub.
When you first make the decision to go into business for yourself, it’s an exciting moment. You’re probably not thinking about all the logistics and little business decisions you’ll have to make along the way. It’s a moment for celebration, not for practical planning—but very quickly, reality hits. As a business owner, you have responsibilities, […] The post Sole Proprietor vs LLC: 7 Things You Need to Know appeared first on SmallBizClub.
Limited companies are the most commonly formed in the UK and for a number of reasons. The primary reason that people choose this type of business formation is the limited… Read more » The post What are The Advantages of a Limited Company? appeared first on Noobpreneur.com.
Are you still unsure of what business structure to use for your startup? There are several options available, each of which offers its own set of advantages and disadvantages. But… Read more » (c) Noobpreneur.com Powered by WPeMatico