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 loyalty. Customers today expect to have flexible solutions, convenience, options, and speed. Ensuring your clients have many methods of making their purchases is key to staying at the forefront of a very competitive industry.
The Merchant Account Problem
Unfortunately, most payment processors are not as keen on your business running smoothly as you are. In fact, some will try to shut you down before you ever get started by rejecting giving you their services. Why? They feel that your business is too risky. The automotive industry is known for high ticket averages, and they can also be targets of fraud attempts. One of these risks alone would make processors nervous.
Setting Up a Merchant Account
Obtaining a merchant account is not impossible, even if you have been lumped into the “high risk” category. The solution to this challenge is to seek out a high-risk merchant account provider. This type of processor will specialize in automotive merchant accounts that offset the inconvenience of this label and help you integrate a payment solution that is secure and versatile.
With an automotive merchant account from First American Merchant, you don’t have to settle for crippling processing costs, hidden fees, complicated contracts, and outdated equipment. Our industry-leading services ensure you have the tools you need to exceed your customer’s expectations and integrate profit-supporting solutions.
The application process is fast and hassle-free. Take advantage of our Support and Agent teams that are available to help with all your processing needs. Our high-risk credit card processing will give you the setup and processes necessary to offer the very best payment processing options in a secure and timely manner your customers will appreciate.Get Started Now