Give us a call for more info 1-800-210-5649

Merchant Accounts Blog Posts

By First American Merchant

Feel free to give us a call for more info 1-800-210-5649

Get a Merchant Account and Grow Your Business, Even with Bad Credit

According to recent data released by Experian nearly 1 in 3 consumers – or 30% of those included in the analysis – have a subprime score, but this population has shrunk by 12% since 2020. These individuals have an average of $4,592 in credit card debt, $19,106 in auto-debit, and 2.6 credit card accounts. And those with low scores between 300 and 600 are most likely to be denied access to lending. This struggle is often felt by those who are young, new, and on their own. However, due to the ups and downs felt across the globe over the […]

Read More…

What You Need to Know About Instant Approval Merchant Accounts

Cash flow and payment processing. Without a doubt, the biggest issues on every business owner’s mind at any point in their journey are cash flow and payment processing. Without payment processing, merchants are unable to process cashless payments, which quickly affects their bottom line and the overall customer experience. Of course, changes and processes take time – time many merchants simply don’t have. When they find themselves in this spot, many business owners consider an instant merchant account. While there really is no such thing as “instant approval”, there are definitely providers that are faster than others. With their services, […]

Read More…

How High Risk Merchants Can Get an Automotive Merchant Account Fast

The automotive industry includes a variety of business types, from car dealerships and auto repair shops to towing services and parts retailers. As successful as these merchants are they still have certain aspects of their operations that they struggle with. One of the most challenging is securing a merchant account. What is a Merchant Account? A merchant account is a business bank account that allows businesses to safely accept funds in a variety of ways, including credit and debit cards. Without one, your business will be unable to accept these forms of payment, missing out on sales, growth, and customer […]

Read More…

Need Access To Capital Now? Consider a Merchant Cash Advance

One of the most common reasons that businesses fail is the lack of cash flow. In fact, a survey conducted by U.S. banks has discovered that as much as 82% of small businesses fail due to cash flow problems.  Cash flow problems occur when your monthly expenses surpass the amount of cash you have on hand. This could be attributed to slower sales or customers defaulting on their payments. Poor cash flow can put a serious halt to your business as you won’t be able to run your daily operations or even invest in the growth of your business.  If […]

Read More…

What are High-Risk Merchant Accounts

As trade turns virtual, most entrepreneurs realize that their businesses are unable to enjoy normal transactions like other regular merchants. While other businesses qualify for low-risk accounts, you may find most banks classifying your services/products as high-risk. Business owners fear this classification because it comes with its set of difficulties. Besides increased fees and transaction caps, high-risks are also prone to account terminations, for one reason or another. That being said, let’s get into the nitty-gritty of high-risk transactions to prepare your risky business for success. What is a High-Risk Transaction? It is a transaction that is most likely to […]

Read More…

The Right Payment Solutions Can Help Your Business Scale

When most small business owners look at payment processing, they’re thinking of it as a line item on their operating budget. Something that must be checked off of the list, a necessary part of doing business. Yes, it does have a big impact on revenue, but it is so much more than that. Good payment processing can help your business grow. In fact, payment processing should be a big part of your overall growth strategy. More payments obviously mean more revenue for your business, but if used correctly, it can actually help your business scale strategically over time. The key […]

Read More…

Covid-19 Relief Loan for Services Industries, The Hardest Hit

A Covid-19 relief loan for Services industries hopes to alleviate the effects of the pandemic. Due to the Covid-19 outbreak, many businesses are keeping a skeleton crew to keep operations going while other businesses have halted their operations entirely. Very few industries have been spared from the catastrophic, economic damage that this pandemic has caused. One of the hardest hit of all industries is the service industry. As a result of stringent social distancing regulations by the local and federal government, the service industry businesses that have suffered a massive blow include restaurants, computer services, accounting services, tourism, and the […]

Read More…

March COVID-19 Small Business Insights: Ecommerce Sales Growth on the Up, as Micro-Businesses Plunge

If you’re eager to learn about the small business landscape amid the 2019-nCOV, then these stats from Card Flight Inc. will help get you up to speed. Figures from its Small Business Impact Report shows transactions for small and medium businesses plummeted through March as shoppers continue to keep distance and opt for ecommerce deliveries. CardFlight investigated 60,000 micro-businesses, and part of the report indicates that “sales went down for the 3rd week in a row, in March.” Sales for Mar 23 – 29 (week 3) dipped nearly 12 percent week-after-week, and approximately 27 percent between Mar 2 and 8 […]

Read More…

The Fed’s Approval for Payment-Services Fees in 2020

The Federal Reserve (the Fed) Board has given its approval to the new payment-services fees schedule for this year. It’s 2.4% higher as compared to the previous year. If you want to learn more about the topic and discover an exceptional merchant services provider, keep on reading this post. Payment-Services & Credit Card Processing Fees Credit card processing fees represent the cost that merchants pay for credit card payment processing. The total cost is based on more than one piece such as transaction fees, flat fees, and incidental fees. In Q1 of 2019, the annualized rate of real GDP growth […]

Read More…

Mistakes of Costco Payment Processing

Did you know that Costco doesn’t even provide credit card processing? What the company does it to outsource merchant services to a company called Elavon. If you want to learn more about Costco payment processing and know where you can find a reliable merchant account to grow your business, just read below. Costco Payment Processing: Time to Turn to FAM If you want to sign up for Costco credit card processing being sure you’re going to work with a direct processor, that’s not the case. In fact, Costco Merchant Services is a reseller of Elavon. The latter is among the […]

Read More…