What are the types of merchant accounts?

31 Aug 2022 By PAYCEC

Every business is different, thus each one needs a tailored virtual merchant account service to meet its specific requirements, assist in streamlining operations and the payment process, increase sales, and manage operations more efficiently.

For your reference, the following are some typical virtual merchant account service packages:

Offshore virtual merchant accounts

Many online firms face difficulties when trying to find virtual terminal solutions to expand an offshore business. Due to the fact that we know less about overseas law policies and regulations as well as requirements from foreign banks, thus offshore merchant account applications are usually rejected. There are many virtual merchant account providers who support offshore virtual merchant services making it easier for you to complete the entire process. Learn more !

Ecommerce checkout virtual terminal

This product mainly supports unregistered small businesses and freelancers. These segments are not qualified to apply for merchant account services due to company or entity documents requirements. The eCommerce checkout virtual terminal was born to respond to the needs of merchant accounts of small businesses, sole traders and freelancers who are looking for an online payment acceptance platform and expand their services to potential buyers.

Mobile payments

Today’s consumers are using mobile phones frequently and mobile shopping is on the rise. To help merchants sell products and services every time and everywhere to clients, many providers have already launched mobile payments platforms that enable enterprises to integrate the virtual terminal into shopping apps and process card payments directly on their phone.

Internet Virtual Terminal

Internet virtual terminal is a perfect payment solution for eCommerce firms and startups who run an eCommerce marketplace platform on web browsers. The internet virtual terminal allows you to integrate into your cart and process checkout from the orders. This option is also ideal for accepting payments if you are out and don’t have a mobile terminal.

Low, Medium and High-Risk virtual merchant accounts

For many medium and high-risk businesses, finding a domestic bank that supports merchant accounts is really a headache. Those e-commerce businesses which do not have a chance of opening an account through a local bank can opt for services through high-risk virtual merchant account services. Moreover, merchants receive more significant benefits with multicurrency payment acceptance and international card payment collection that will take your online business to the global level.

US Virtual merchant accounts

US market has been a promised land for almost companies of all sizes across the globe. However, the requirements to enter the US market are definitely demanding and complicated for small and medium-sized businesses as well as startups. No worries, US virtual merchant accounts providers can set up your merchant account quickly and help you to start taking card payments without any hassle. By opening US virtual merchant accounts, you have more opportunities to connect the entire transaction process in the United States and North America.