What Should Telemarketing Business Expect From Merchant Account Services
World is getting closer and closerby the day when we talk about online business and telemarketing. It has become far easier for customers to buy or order things online irrespective of their geographical location until and unless the merchant is high-risk account holder. Market place have extended beyond limits and instead of buying a shop/store and sitting there throughout the day to sell your product and services, all you need is a system witha website to market your product. Nowadays, you can buy things online or through telemarketing at your convenience, without wasting your time and being present physically in the shop. Now let us understand the term telemarketing.
It is a method where you can market your product directly either over phone or web conferencing, which is scheduled on a call. In this marketing method, sales person tries to convince prospective customers to buy a product or service that business is providing over phone or during conference. For operating such type of business and carry out financial transactions (where most of the transactions are carried out through credit card), business or merchant needs a merchant account.
It is a type of bank account, which is required to conduct financial transactions by various methods; accepting payment through credit or debit cards or by other means. Merchant account is created under an agreement between business owner and the issuer bank for the settlement of payment done via cards (card transactions). Merchant account is essential for high-risk merchants and is commonly called high risk merchant account. In other words, a high-risk merchant account is an account for processing credit card payments, where the issuer bank has classified the merchant or business as high-risked.
Next thing that comes in our mind is what is the meaning of a high-risk merchant. Issuer bank defines whether a merchant account or the business is high risk or not depending upon the number of chargebacks and the type of industry. High-risk merchant in telemarketing business faces a lot of struggle in getting approval for a merchant account, but if they succeed in getting one, it will enhance the sales, as they will be able to accept credit card payment from their customers present all over the world.
Advantages of merchant account service
- If a merchant gets approval for a high risk merchant account, a wider range of support service is given to the merchant for a smoother and efficient workflow. One of the main services provided is virtual terminal. It is proven to be very beneficiary for high-risk merchants.
- Once the merchant account is approved, a telemarketer will not only be able to accept the payment through credit card but also,do financial transactions telephonically.
- It will help you bring the customers around the world under one roof as it will allow them to accept all the major currencies and credit cards.