How To Accept Credit Card Payments Without A Merchant Account?

Posted by Brian Latch on March 30th, 2021

Succeeding in a business is partly about putting in a lot of effort and partly about keeping up with what’s happening around. Over the last decade or so, people have become accustomed to making payments via credit and debit cards. Hence, in order to compete with other businesses, you need to adopt the cashless model too. But we are sure that while inquiring about online payment and credit card processor, you must have been told multiple times about the need to open a merchant account.

However, the process of opening a merchant account can be a lengthy one. Most business owners are curious to know if there is a way for them to accept credit card payments without a merchant account. Well, there is. You can do that with the help of a third-party online credit card processor. In fact, these days it is much easier to set up a credit card processor with them than the quintessential merchant account providers. These businesses are also known by several other names like credit card aggregators, payment facilitators, and payment service providers.

The third-party credit card processor collects the payments made by the customers and then transfers them to a merchant’s bank account. Also, one of the reasons why merchants these days prefer third-party processors is that they charge lesser fees in comparison to merchant account providers. The trick is to find the right third-party processor, whose terms and conditions are agreeable to you and your business.

Why go through the hassle of opening a merchant account, when you can easily accept credit card payments with a third-party credit card processor. Now that you know the easier option, we hope you will switch to cashless payments and give a boost to your business at the earliest.