freemerchantaccount

Free Merchant Account: Debunking the Misconceptions

If you're an ecommerce site owner, or somebody who does business on the Internet, you'd know that in order to accept credit card payments, you'd need a merchant account. For some business-owners, getting a merchant account through a broker or a bank is easy, especially if the business is as steady as a rock.

However for some merchants with start up businesses, getting their own merchant account proves difficult. A mom and pop business applying for a merchant account through a bank can get rejected for the following reasons:

  1. Nature of the business is too risky

  2. Too early in the business to apply for a merchant account

  3. Processing volume is too low

There are a lot of reasons to get rejected by banks or brokers. However, hope isn't lost as there are other ways to get a merchant account. Get a free merchant account.

Free merchant account providers flood the Internet. They offer so many freebies, you can just imagine where they get their profit. However, contrary to popular belief, a free merchant account isn't free.

No it's not. It never was, it never will be.

Can you imagine anyone having a business of processing credit card transactions not making money? That's called charity, and what they do is far from not gaining any profit.

This is where the problem starts, the misconception people have on free merchant accounts.

Misconception #1: Everything's for free with these merchant accounts

Sorry to say but they also have overhead expenses, employee salaries, and other related expenses. There is no business in the world that isn't out to make money. For free merchant account providers, although they do give out freebies, they still get a fee from the transactions they process for your business. They do provide free setup, free terminals, and free software to invite start up businesses to sign up with them.

Misconception #2: Free terminals are guaranteed new.

Indeed, free merchant account providers offer free terminals - however, not all terminals are created equal. Some terminals process credit cards only, others are appropriate for wireless merchants, while others process echeck payments. Some providers give out terminals that aren't as appropriate as you'd like for your business. Other free merchant account providers dupe merchants into thinking it's all new - when in fact, their terminals are refurbished or completely out of date. However, there are always 2 sides to a coin. There are still a lot of free merchant account providers who give out top of the line equipment to their subscribers.

Misconception #3 Free merchant account is the secret to ecommerce success

People believe there's always a magic pill to success. Wake up bucko, there isn't. There's no such thing as instant success, more so in business. Okay, admittedly there are some who are LUCKY in business, but let's make this clear - they worked hard for it. Although a free merchant account can help you process credit card payments, it's not enough to have it. You have to market your product or service successfully, and make sure your goods are in demand. A business demands a lot, and a free merchant account is just one of them.


A free merchant account is indeed a helpful tool in creating the empire you want in the Internet marketplace, however, one should be wary of scammers who prey on innocent merchants who do search for information, not just the right one. Getting the right information can reduce the misconception, and prepare you for what to expect from the services of a free merchant account provider.


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