Should You Use PayPal, Square Or Should You Get Your Own Merchant Account?

Many business people start out accepting credit cards online and offline by using services like PayPal or Square.  These services are very convenient and fairly easy to set up but should you continue to only use those services?  There are many factors to consider.  We will attempt to help you make that determination.

Whether you should get your own merchant account is really a question that should be answered on a case by case basis.  If you have a relatively small business and don't do a lot in sales, you may want to keep PayPal or Square.  If you don't do a lot of transactions but you do high ticket item sales then you may want to see how much you can save by having your own merchant account.  Basically, the more sales volume you have the more you may want to process your own payments via a merchant account.  There is also that fact that many consumers somehow get confused when using PayPal or Square and this may frustrate your potential customers.  On more than a few occasions we have had to walk a client through a transaction over the phone.  Yikes.

With all that being said, merchant accounts are not all equal.  The rates that companies charge vary and you should get a few quotes before you sign on any dotted line.  Yes.  A merchant account comes with a contract so be prepared to make an informed decision before taking the leap.

Of course, we help businesses navigate these waters and we will help analyze your needs and give you a quote.

Learn more here: Credit Card Processing