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5 Free Merchant Account Mistakes merchants make
Nobody's perfect. And in the world of business, mistakes are made on the way to success that can either hinder or delay the "planned success" of a business and never has this been truer than for an ecommerce business. Merchants are too quick sign contracts or agreements from ecommerce "helpers" such as free merchant accounts. Free merchant accounts are not the culprit here. And this wasn't meant to point a finger on who's to blame. Before entering into any business – whether retail, MOTO, or Internet – agreements & contracts are always present. Some merchants who see free on the paper don't account the fine print on the contract. That's one of the downfall of merchants. After a month or two, they go running back to their providers with contracts in hand, only to admit defeat that they have no escape from the dreaded contract. So what are the common mistakes merchants make when getting a free merchant account? Educate yourself on some you can easily avoid:
They don't look out for hidden charges/fees
As long as summer days are long, and nights are short, so will anybody who's ever been in business has to make money – and free merchant accounts providers are no exception. It's sooo cliche, but there is seriously no such thing as free lunch. Merchants can avoid committing this mistake by asking for all charges and fees they might incur when they start processing. This includes but isn't limited to the discount rate, transaction fees, and monthly processing fees.
They don't poke around the FINE print.
Our rates are FREE! Often, just a mention of the word free and anyone in the FREE world will scurry to see what they can get without giving. Unfortunately in business, this isn't the case. Some can give you free coupons but you have to buy the whole newspaper, or get a free lunch but pay for dinner – the point being merchants easily see the word free but they don't poke around the FINE print. If there's another word starting with F that merchant should be wary of – it should be Fine with the word PRINT to follow. Read More>> |
Posted: 1:27 PM, Tuesday, July 22, 2008 |
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