Master merchant accounts, or aggregation merchant accounts are where you get a merchant account and have multiple MIDs (Merchant ID numbers) that you can assign to other businesses to let them accept credit cards. It’s a high volume account and the hardest to qualify for. To qualify for a master merchant account you usually have to show that you’re currently processing for at least the amount you’re applying for to be considered for one. Volume is typically accepted at a few hundred thousand per month minimum. (more…)
Archive for the ‘merchant accounts’ Category
Master Merchant Accounts or Aggregation Accounts Explained
Pharmacy Merchant Accounts: Getting Approved
Pharmacy merchant accounts are among the most difficult to get processing for, but there’s several tips I’ll share which can both help speed the process and increase the chance of being accepted for merchant account approval. (more…)
Offshore Merchant Accounts. Who needs one?
Offshore merchant accounts are different than high risk merchant accounts. The rates are typically %2-%4 higher than what you can get in the states. The main reason is overseas banks aren’t as competitive as they are in the U.S. Just because a company is offshore doesn’t mean they should pay sky high fees and rates though. It all boils down to (more…)
High Volume Merchants Shopping For The Best Rates And Fees.
If you’re an existing high volume merchant doing a lot of business, you can very likely have your merchant account or master merchant account fees and rates reduced simply by shopping around. To do this you’ll need a merchant account underwriter (not just an agent) who knows the banks and isn’t just locked into one with a “take it or leave it” rate. Even if you went directly to some banks with a high volume business, they simply wouldn’t give you the lowest rate, I’ll explain. (more…)
Is PayPal suitable for high volume merchants?
If you’re a high volume merchant then PayPal isn’t a good choice because they do not negotiate their merchant fees for high volume customers. They charge 3 percent and 30 cents a transaction and a large volume merchant can do much better. Typically you can get under (more…)





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