How many merchant accounts can you obtain?
A merchant account is an agreement between a merchant and an acquiring bank. It allows the bank to process and accept credit card payments. By signing this agreement, a merchant agrees to abide by the operating regulations established by Visa, MasterCard, or any other payment company.
Creating a merchant account is the best way for a merchant to develop his business and find a big amount of new clients who want to pay for his good and services with a credit card, not cash. However, how many account merchants can you get? And how many merchant accounts does your business need?
The main reasons why business owners obtain several merchant accounts
- Potential to growth
- Minimizing the risk to break a chargeback limit.
- Marketing strategy
- Target market expending
- Different payment options
If you want to have card processing that allows you to accept alternative payment methods, Google pay, Apple pay, unusual target market, and pricing plans it would be difficult to unify all the functions in one provider. You can have 2 or 3 and then all of your requests are possible to realize.
Minimizing the risk to exceed a chargeback limit
If your activity implies that you have more than 1% of chargebacks, as a result, your account can be closed. So, you can open 4 separate MID (merchant accounts) for each website to minimize a risk to lose your funds. Because when one account is closed others are active and generate income.
If your marketing strategy assumes that your company has to obtain several merchant accounts for co-branding activities.
Target market expending
If your desired target market consists of Europe, CIS, Africa, Asia – in most cases you will need several MID and providers to meet your requests.
Different payment options
Probably, some provider has the rate which is acceptable for you, but it has not pay-out function that is important for your business. You can open several MIDs or use the pay-out function provided by other providers or let’s say, you need different alternative payment methods like Skrill, Neteller, Webmoney, QIWI, Apple pay, Google pay. One provider can provide you with Skrill and Neteller and the other with Webmoney, QIWI, Apple pay, Google pay.
Our team will help you to combine different providers in one single mechanism for income generation. TurbaPay is the new service for free and quick selection of the best rates for accepting online payments on your website. You will receive up to 5 pricing plans from different providers just in two minutes. TurbaPay means access to over 100 providers that will help you organize the acceptance of payments in bitcoin We work only with reliable and well-tried payment providers. Don’t hesitate to contact us.