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Credit Card Processing in North Dakota

Opening a North Dakota merchant account is one of the best ways that any business can expand their sales and increase their profits. In today's market, credit card and debit card sales are growing exponentially and it is a proven fact that sales are lost daily at cash only businesses. Additionally, as more and more consumers begin to purchase products online, e-commerce is growing and online businesses for products and services are a proven way to make money. Opening a safe and reliable North Dakota merchant account will allow you to benefit from these market conditions and increase sales at your business whether it be an in person business, online business, or both.

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North Dakota Merchant Account

Ready to start accepting credit cards and debit cards at your North Dakota business or website with a merchant account? Learn what is most important to consider when opening up a North Dakota merchant account here.

What is a North Dakota Merchant Account?

Simply, a merchant account is a relationship between a merchant account company and a business, like yours, that allows the business to process credit and debit card purchases safely. Essentially, using credit card processing equipment or software, the business is able to swipe or enter a customer's credit card or debit card information and the merchant account company instantly checks to make sure the customer can pay for their purchase. This information is relayed back almost immediately to the business and the payment is taken. Then the merchant account company finishes processing the order and deposits the payment into the business's account within 2-3 days in most cases. For verifying the credit card or debit card and processing the payment, the merchant account company charges a fee, normally called the discount rate. This rate is a percentage of the purchase price, usually between.5%-5% depending on how risky the purchase is.

There are many different types of merchant accounts in North Dakota, but the most common are "swiped" merchant accounts and "keyed" merchant accounts. In a swiped merchant account, the consumer normally swipes their card through a credit card machine. These are most common in retail stores and restaurants. In a keyed merchant account, the credit card information is manually entered. These are most common for online merchant accounts and mobile credit card processing done on the road or at trade shows. No matter what type of North Dakota merchant account you need, the provider will set you up with all the equipment you need as well as the software to manage your merchant account.

Important Factors in Choosing a North Dakota Merchant Account

There are many important factors to consider when you are looking at signing up for a merchant account so you can accept credit cards at your business or on your website. We believe the most important factors to consider so you can get the best North Dakota merchant account for you are:

Discount Rate: The percentage of the purchase price that the merchant account company charges to verify and process the payment. Always make sure to get the discount rate for all types of transactions. Many companies charge different amounts for different types of purchases. For example a debit card purchase may cost a different amount than a credit card purchase vs. an online purchase.
Contract Length: The length of your contract is a very important factor to consider for any merchant account. Ideally, we recommend looking for an account with no minimum contract that can be cancelled at any time. You never want to be stuck paying more than you need to with no way out or high cancellation fees for your merchant account.
Minimum Monthly Fee: Many merchant accounts will charge a minimum monthly fee on your merchant account. If you are generating purchases, you probably won't even notice this. However, if you are a start up business, especially online, you may want to look for a merchant account with a low or no minimum charge. Usually anything under $25/month is considered pretty good.
Batch Processing Charge: At the end of each shift or business day, you will run a batch report of your credit card and debit card purchases. This submits all of the sales to the merchant account company to process. Most merchant accounts charge for this service, however it should be a small charge since you will be doing it often.

How to Sign Up for a North Dakota Merchant Account

Signing up for a North Dakota merchant account is actually relatively simple. Although the actual sign up process may differ slightly between each specific merchant account company, here is what we recommend doing to make sure you get the best rate.

1. Make a list of our credit card processing needs

Every business is different and in order to get the best merchant account, you need to know how credit cards are or will be used at your business. Think about your customer base and answer these questions:

Do I need an in person credit card processing solution? An online solution? Or both?
Do I want customers to swipe their cards? Will I manually enter the numbers for mail or telephone orders? Will customers enter their information online?
Do my customers usually use credit cards or debit cards?
How much money do I expect to be purchases using credit or debit cards?
Do I need payment processing on the go for trade shows, markets, or client visits?
How much dedicated customer service am I looking for?

2. Get Free Quotes From 3 Companies

If you want to save money and get the best merchant account for you, we recommend always getting quotes from at least 3 companies to find out what the best rates are. Don't be afraid to share competitor's quotes to see if other merchant account companies can do better. Remember this process is about your business and finding the best merchant account for you. We recommend always calling Merchant Warehouse at 1-866-734-8450 as your third company since they guarantee they will match any competitor's prices. If they can't, they will give you $100. Either way, you win by calling them. You can find our recommendations for the best companies to get quotes from below. They are all free.

3. Sign Up and Start Accepting Credit Cards

The once you have chosen the company you want to go with - sign up and start accepting credit and debit card payments with your North Dakota merchant account. Watch your business grow.

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