Using a third party processor, also known as free merchant account, is the best and the easiest way to sell online without a merchant account for the following reasons: minimal set-up fees, low upfront costs, credit check not required, fast way to accept online payment.
A third party processor, or the so called “free” merchant account processor, is the quickest and the best option that allows online transactions when using credit cards. Here are several reasons why the best way to sell online is through a third party processor, namely:
Minimal set-up fees
Unlike setting up a merchant account, a third party processor, charges a lesser fee. Others even offer free set up when you acquire a credit card processing service from them.
Low upfront costs
Another feature that most of the “free” merchant account providers offer is the low upfront fees; although, the transaction fees are a bit higher than the merchant account.
Credit check not required
Third party processors do not conduct a credit check. In fact, they are widely known for their acceptance of clients with bad credit history and with high risk business profile.
Fast way to accept online payment
As soon as you are done with your application, you can immediately start conducting online transactions and accept credit card payments. It all takes a few minutes, and then you’re on the board.
No matter where you are located, third party processors accept clients from all parts of the world. They also offer a multi-currency feature where one may opt to accept payments in their own currency.