The 5 Benefits of Having a Merchant Account

Covid-19 has changed many aspects of our lives and habits. We’ve taken into working online, attending gatherings and meetings on Zoom, and online shopping took its toll on us. I can see that It has been slowly integrated in our minds how unsafe it is to be around a crowd and how we must use masks and hand sanitizers wherever we go.

The #1 medium of life is money, a thing that constantly shifts around and goes in circles into thousands of hands. It gets me thinking ‘how are we to achieve contactless communication while using money?’ This is where the necessity of other forms of payments falls, here’s why every business whether small or big needs to open a Merchant Account:

To Accept Credit Cards Payments

This is the main reason why merchant accounts are important, with more people avoiding cash payments, switching to credit cards has become the first best thing. If you open a Merchant Account you are making people’s lives easier.

As someone who experienced this several times, there’s nothing I find more annoying than going into a grocery store, picking out everything I need and when I’m at the cashier, Irealize they don’t accept credit cards. That’s enough to ruin anyone’s day. So, follow the status quo and bring in this awesome invention into your business.

Increase Your Sales

As a consumer, I find it way easier to spend more when I use my credit card and based on several studies, it has been found that customers tend to spend more when given the option to use credit cards over cash. This is why opening a Merchant Account can elevate your sales and directly impact the overall growth of your business. Therefore, if you want to increase your sales, integrate other forms of payments.

Accepting Other Currencies

Opening a Merchant Account can enable payments from multiple currencies from all around the world. This way you can reach out to customers anywhere in the world, resulting in a good reputation for your business and more customers that trust your business and methods of payment.

Better Money Management

By using a merchant account, you’re providing your business with innovative tools to keep your business organized. You will be able to receive monthly reports of all the transactions with the type of currencies, you will be able to track your payments, recurring billing and invoicing. This will help you keep an eye on your profit andmanage your taxes.

Avoid All the Unpleasantries of Checks

Since checks have become something Medieval, it’s your chance as a business owner to avoid the trouble of having bouncing checks and being tricked into their scams. If you start giving more payment options such as online payments and credit/debit cards, there’s no longer a need for anyone to use a check for a payment. 

If you’re on the lookout for a trustworthy merchant service provider in the UAE, I believe that ADCBsets a great example on an all-in-one merchant services provider, ADCB can process payments in store, over the phone, or online. Once you create your merchant account with ADCB, you can accept credit card payments, receive online payments, process invoices, accept contactless payments, and above all – gain customer satisfaction.

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