The fashion industry is novel from other manufacturing fields in that the same purpose mainly rules it as its end product: change.
Since e-commerce has been introduced, it is growing in a fastening way. Many tech-savvy merchants have taken advantage of it and brought their business online. But it was not enough.
To operate a business online flawlessly and adequately, a merchant needs a merchant account service.
A merchant account wÂÂÂorks the same as a bank account. It facilitates merchants to accept credit card and debit card payments. It equips merchant with other several benefits and put a lot of positive impacts on their business. Such as:
How it impacts your business?
Cash is becoming less in practice day by day. Customers around the world prefer to make payment online and want to keep their pocket light.
In this situation, a merchant account gives you a platform to manage your payouts hassle-free. It benefits your business in so many aspects, such as:
Increases sales: No one can deny that having multiple and hurdle-less payment options drives more sales to your business.
While talking in terms of a merchant account, it facilitates you with a feature-packed payment gateway, making your payment processing smoother. It attracts more customers and enhances your sales.
Better money management: Accounting and invoicing features with a merchant account make it easier to manage your accounts. Instead of counting cash, electronic payments will support keep you organized and allow for better cash flow control and forecasting.
Convenient for customers: Happy customers mean more repetitive customers for your products and services. Merchants can give their full attention to their organization’s growth and leave the merchant account service provider’s customer satisfaction part. A merchant account with its service makes all possible effort to make your customers satisfied and happy.
The benefit of the merchant account
A high-risk payment gateway: Make your payment processing risk-free and get more business and customers. With high-risk payment gateway integration, you can eliminate the risks available in the industry.
Credit card processing: Credit card payments are the best way to improve your business’s cash flow. With credit card processing, you can accept credit card and debit card payments from your customers.
Risk Involved in clothing business & how merchant account mitigates with them.
Traditional banks and financial institutes consider online businesses as high-risk business. There are several reasons for that.
First, Its nature; we are well aware of the ups and downs of the fashion industry. How fast trends change and most demanding becomes least demanding. This dynamic nature becomes the primary factor not to consider them to give services.
Second, Online payments are always risky. It includes so many demerits, such as chargebacks and fraud transactions. These two factors are significant issues for service providers. It causes loss for the industry and makes it challenging to run a business.
But, with a high merchant account, you get a security tool that supports you in mitigating these challenges. A high-risk merchant account makes it more feasible for you to run your business smoothly.
We should not deny that a high-risk business needs a high-risk payment processor to operate business flawlessly.
How it enhances your business?
Reduce Friction in the Checkout Process Easy checkout process is the primary requirement of any business. It does not only make the checkout process simple but also drives more business for you. A customer prefers to purchase from a portal with no hurdle.
Reduce Friction in the Checkout Process Easy checkout process is the primary requirement of any business. It does not only make the checkout process simple but also drives more business for you. A customer prefers to purchase from a portal with no hurdle.
Provides as many payment options as possible
Besides, easy checkout process, merchant account supports merchants in providing various payment modes to their customers. Now they can allow their customers to make the payment via credit card, debit card, eCheck, ACH and other methods.
With merchant account service, you get several unique features that make it relatively easy for you to operate your business.
Security tools you get to protect payment processing
Security is the primary concern for the merchants. Just because of not having a secure payment processing solution, it becomes pretty tough for the merchants to operate business flawlessly. Moreover, your customers also start avoiding opting for your services.
But with a merchant account, you get a comprehensive security solution. Security tools such as PCI-DSS Level 1 compliance, SSL encryption, and API integration supports merchant to smoothen their payment processing. Besides, chargeback management and anti-fraud management make it possible to track real-time fraud and mitigate them.
A merchant account makes your business more reliable and trustworthy with its security aspects.
How will you get approval for a merchant account?
Getting approval for merchant account varies to the different service providers. For instance, if you are going with eMerchant Pro, you would not require to put in many efforts. You have to take only one step, filling an online form available on our website. Once you are done, you will be assigned a dedicated account manager.
He will collect all the required documents from you and will verify them. After verification, he will forward your file to the acquirer banks. As soon as banks approve your file, you will get the merchant account along with 2D payment gateway integration with your website.
Go global and get more opportunities
Seeing your business growing globally is a dream of every merchant. And eMerchant Pro brings solution here for you
eMerchant Pro equips you with an international merchant account and integrates a global payment gateway with your website.
You can maximize your sales and do more business with eMerchant Pro as its acquirer banks do not put the cap on the transaction volume. It allows you to make as many sales as you want. Moreover, multi-currency processing aids feature to accept payments in your customers’ local currency.
It makes your business more reliable for your customers.
Conclusion
As per the above discussion, we can conclude that a merchant account is a mandated part of any online-based business. It does not only positively affects business also supports your customers completely.
So, do some research before opting for services from any service providers. However, if you will look for the best in the industry, you will find eMerchant Pro as well listed there.
eMerchant Pro is a well-known service provider in the industry. It offers Online Clothing Merchant Account to the merchants involved in the fashion industry.
We offer you several benefits with an online clothing merchant account such as:
Dedicated MID
High-risk payment gateway
Multiple payment modes
Coinage solution
Credit card processing
PCI-DSS Level 1 Compliance
Chargeback management
Anti-fraud tools
24*7 customer support
To learn more or opt for Online Clothing Merchant Account, apply now and connect with our experts.