How To Setup A Wireless Merchant Account

Wireless Merchant Account Setup

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Check your wireless coverage, then check your wireless coverage again!: There are several different wireless coverage networks available for use with mobile credit card processing terminals. Generally coverage is good for all networks. However, you should double check that the areas you are working in and are traveling to are covered by the network you choose. Most networks have coverage maps on their websites or your salesperson will have access to a coverage locator. The majority of wireless terminals on the market also come in different versions for each network. Double check to make sure the version of the terminal you choose is compatible with the wireless network in your area. Your salesperson will be a good source of information on wireless networks.

Think twice about CDPD: CDPD was one of the first networks to be used for wireless credit card processing. Coverage for CDPD is provided by two major carriers, AT&T and Verizon. In early 2003 AT&T announced that it would be discontinuing its coverage in June of 2004. You will be able to find CDPD terminals available at deep discounts, but be aware that while other wireless networks are expanding, it appears that CDPD is contracting.

Give yourself enough time: While it's true that most merchant accounts can be set up within a day or two, it does sometimes take longer. It's a good idea to start thinking about setting up a merchant account at least a few weeks before you plan on using it. While you will probably be pleasantly surprised about how quickly you get set up, nothing could be more nerve wracking than waiting for the delivery of your credit card terminal the day you are leaving for your first big trade show. You will have plenty of other challenges in those last few days before you launch your new business.

Your local bank may not be the answer: While most merchants like the idea of doing business with their local bank, many do not realize that the bank may have little experience setting up merchant accounts. Most smaller banks refer their business to a third party to do the processing and receive a commission for doing so. In fact, over 200 bank branches in the New England area alone refer their customers to Merchant Warehouse. Going directly to the processing company will usually save you time and money. Your can still have your funds deposited into your account at your local bank.

Understand all of your fees: When you first get a quote for merchant services some fees may seem a bit foreign to you. Don't worry though; after you take a few minutes to go through the fees it will seem simpler than your phone bill. Take the time to go through your application and ask questions about fees you don't understand. Taking the time to go through the fees may save you an unpleasant surprise when you get your first merchant statement.

Inform your salesperson if you are a seasonal business: Many mobile merchants are only in business for a few months out of the year. Make sure your salesperson is aware that you may only be processing transactions during a particular season. Problems can arise if your account has been inactive and suddenly does a large volume of transactions when you re-open for business. Often, this could be the sign of a stolen credit card terminal and the loss prevention department may need to call you to verify that you are the one actually running transactions through the terminal.

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