This is a guest post by Sarah Levy who is a blogger for Merchant Express covering topics from small business marketing to the latest in payment technology. Read more of Sarah's writing on the Merchant Express blog and follow her on Twitter @Sarah_Levy81

A merchant account is the singularly most important merchant service a business can have because it is the basis of credit card processing. Without one, you cannot accept credit cards, debit cards, prepaid cards or plastic of any kind. And if you’re not accepting plastic, you’re not competitive in today’s marketplace!

According to a recent Nilson Report, there are 20 billion credit card transactions in the U.S. each year with a total value of $1.9 trillion. On average, a person uses a credit card 119 times annually, spending a total of $10,500. Is it any wonder that every business from the smallest local shop to the mega Big Box chain stores has a merchant account to accept credit cards?

Besides the financial benefits of a merchant account, there are other advantages to having one. Four of the most important are:

• Convenience for both you and your customers. Next to price, convenience is a major motivator for consumers. Wherever they shop — down the street, online or half a world away — they want to choose the payment form they prefer. Increasingly, that’s credit or debit cards. For merchants, having a merchant account and accepting payment cards means cutting your trips to the bank for change and deposits. When you accept credit cards, you batch process your transactions electronically and automatically at the end of each day.

• Accepting credit cards with a merchant account speeds up the sales process. In addition to convenience, credit cards simplify the shopping experience and send your customers on their way in record time. One swipe and they’re out the door with their purchase, happy not to be waiting on line. And by efficiently moving customers through your store, you can handle more sales, which will boost your bottom line.   

• Merchant accounts add to your brand and build trust. Accepting major credit cards like Visa®, MasterCard®, Discover® and American Express® elevates your business and levels the playing field with your competition. And when potential customers see the logos of their favorite payment cards in your store window or on your website, they know they’re dealing with a reputable business where their payment preference will be respected and accepted. 

• Secure credit card processing from a reputable merchant services provider. We’ve all heard reports about the dangers of data breach and identity theft and the catastrophic effect they can have on a business. A merchant account with a reputable merchant services provider will help lower your risk because you have their experience and resources to draw on to achieve and maintain PCI compliance, the first line of defense against hackers and thieves. 

As you can see, a merchant account has multiple benefits. Discover additional ones for yourself when you partner with an experienced merchant services provider for your credit card processing needs.