How an Enterprise Level Business Should Choose a Merchant Account

Although most small businesses use budget merchant services providers, enterprise level business need to consider more stringent criteria when making their selections. This is particularly the case if the business has multiple locations in different areas, as the types of payment they need to process may end up varying. However, while most businesses start out on flat pricing for payment processing, they will need to consider a more dynamic merchant account when they grow to the enterprise level. With that in mind, here’s what you need to look for in a merchant services provider when transitioning a business from a small business to an enterprise level business.

Processing Both Online and Offline Payments


As you grow your business, it is likely the case that you will be processing a wider variety of payments. This includes various debit and credit card brands, including Amex, Visa, and Mastercard, as well as online payment platforms such as PayPal and Venmo, and more B2B style payments such as ghost cards and invoices if you’re working in a B2B capacity. As such, you’ll need to find the best merchant account for this purpose. To do so, you might consider an all-in-one payment processing solution that can provide both a payment gateway and merchant services by combining these solutions into a streamlined package. This will reduce your amount of overhead when it comes to paying for merchant accounts, and it will also allow you to process a larger variety of payment options, both online and offline.

Combining Merchant Account Access


When selecting a merchant account for your enterprise level business, you need to make sure that the solution you go with has access controls that can be used by multiple managers or employees within your business. If this is not the case, then the buck will always stop with you, and it will be difficult to get payments processed in a timely manner. Instead, you need to make sure that the solution you choose has a singular login for all of the accounts that can be accessed by anyone you choose to share the password with. This will help in streamlining your day to day operations and make your business more dynamic, particularly as you expand to more and more locations.

Choosing a great merchant account for a growing business is not an easy task. You need to make sure to do your research and compare different solutions, both in terms of price and quality. Ultimately, you’re looking for a partner with a company that will add value to your business, and you want someone who will act as a long term partner to you. As such, don’t just settle for the option that you’ve been using for some time. You want to make sure that whatever merchant account you end up using is a solution that can handle the growth of your business to an enterprise level entity.

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