To open a merchant account online, you just need to find and choose the right merchant account provider, sign up an application for the account and wait for it to get approved. To open a shipping account online, you also need to find and choose the right shipping account provider and sign up for an account.
Venturing into the world of online retailing is another great opportunity for all merchants to expand their businesses and not only limit themselves in catering to domestic customers, but to international customers as well. Selling your products via the Internet is also a great way to increase sales and business productivity. In order for online businesses to grow, they need a merchant and shipping account to be able to offer the products or services online which is basically what these customers need.
Opening a merchant account
A merchant account makes your business more flexible to the payments of your online customers. It also has tons of benefits to the business that every retailer should grab. Acquiring a merchant account may be done in two ways. You may acquire it through your local bank or through an ‘online’ merchant account in the Internet. Here’s how you can do it:
1. Find a merchant account provider. There are already lots of merchant account providers out there willing to help you in your credit card processing needs. It may be your local trusted bank or an online merchant account provider. It is better that you should put some time in doing research for the right merchant account provider for your business needs. Put into consideration their rates or fees, reputation, terms and conditions and the contract before applying for a merchant account.
2. Apply for a merchant account. When you’re already done with your researching and you think that you have already chosen the ‘best’ merchant account provider for your business, sign up for a merchant account. Upon application, you may need to accomplish and submit some requirements. You may need to provide some of your personal information like your social security number or credit history, and also your business information as well like your business plan, financial strength, tax returns, business bank statements, etc.
3. Wait for approval. You may need to wait for a few days or weeks for your merchant account to be approved. Merchant account providers have to check the validity of your application and if your business is fit to maintain a merchant account. If you’ll get an approval, you’ll be accepting credit card payments as soon as you confirm your account.
Opening a shipping account
Every online retailer should know that a shipping account is also important. Since the business is now open to the global market, there are times that you need to ship your items to your international clients. There are lots of shipping account providers out there for your business needs. Examples of which are FedEx, DHL, USPS or UPS. Opening a shipping account is not difficult. It is as easy as opening a merchant account. Here's what you should do:
1. You just need to find and choose a shipping account provider. Choose a provider that will offer you the kind of services you want for your business.
2. Apply for a shipping account. Shipping account application forms are available in your chosen shipping service provider’s website. All application details are also available there. You must take note that your business should be operating for at least 30 days before you can apply for a shipping account.
3. Once it gets approved, you will soon start to accept orders and ship your items anywhere.