Simply Accounting Credit Card Services provides merchant account services to businesses to allow VISA and MasterCard payments to be collected. Before you can accept credit cards in your business, you need a merchant account. A merchant account is nothing but a special type of bank account that allows you to process credit card payments irrespective of whether the order is placed in person, on the phone or online. You can get a merchant account either through your bank or through Simply Accounting Credit Card Services (powered by Beanstream).
You need a separate merchant account for each type of credit card you wish to accept and each currency you wish to settle in. If you have a retail store and already have merchant accounts, you will still need to obtain new ones for processing payments received over the Internet.
In many instances e-merchants or home based merchants may have difficulty obtaining an account from a bank just because the sales volume is too low or the bank is uncomfortable with non-retail businesses. Additionally, many banks require security deposits in order to obtain an Internet merchant account and can take many weeks to process a merchant’s application.
Simply Accounting Credit Card Services never requires a security deposit and in most cases can process an application within 3 business days. In addition, we provide the flexibility of having all of your payments deposited into a single bank account to minimize your banking costs. Currently Simply Accounting Credit Card Services offers Canadian and U.S. dollar Visa and MasterCard merchant accounts. When you obtain a merchant account from Simply Accounting Credit Card Services, your company name appears on the credit card statement!
