DO YOU HAVE TO OPEN UP A MERCHANT ACCOUNT FOR A SEASONAL OR A SINGLE USE?

For an online business, accepting payments over the Internet is imperative. For others such as retail businesses, accepting credit card payments on a daily basis provides their clientele with flexible payment options and hence, boosts their sales.

To facilitate the transfer of funds from the credit card companies to their bank accounts, the merchants have to open up affordable merchant accounts with reputable and reliable merchant account providers.

Not Everyone Needs A General Merchant Account

However, not all ventures need to accept credit card payments on a daily basis. There some types of businesses that need to deal with credit card payments for a specified period each year as they are closed the rest of the time.

Landscapers, owners of skiing facilities, merchants dealing with seasonal fruits or flowers and trade show merchants are some examples of merchants who may have the need to process credit card only for a particular period every year.   

On the other hand, there are some people who may need to accept credit card payments only once. For example, someone organizing a reunion as a one-time event may want to accept credit card payments for the reunion online to make it easier for the guests.

These are people who do not need to accept credit card payments for 12 months a year. Opening up a merchant account and making the monthly payments does not make sense as an option for them. What are their choices?

For Those Who Require Merchant Account Services Seasonally

Most merchant account providers offer seasonal merchant account services. Your need for a seasonal merchant account must be indicated in your application. You have to stipulate the months you need the service for. Your specified number of months can range anywhere from 1 month a year to 11 months a year.

You will only make payments during the months you’ve requested the service and will be charged nothing during the others. Of course this doesn’t mean that you can open and close the merchant account whenever you wish. Often official letters must be faxed to the provider to confirm the starting or closing of the account.

Please refer to the following websites for additional information on seasonal merchant accounts and an example of a provider:
http://www.merchantaccountblog.com/24/seasonal-merchant-accounts
http://www.eaglemerchantservices.com/merchant-accounts_seasonal.php

For Those Who Require Merchant Account Services For A Single Use
If you need to accept credit card payments only once, a third party credit card processor is a suitable option for you. However, most third party credit card processors, like most general credit card processors, require monthly minimum fees or set-up fees. You shouldn’t have to incur any such fees for a single use.

PayPal seems to be the best option for your purpose. There are no set-up fees or monthly minimums and it is very affordable. Plus it is very easy to use. It is a system used in most places around the globe and it supports quite a few currencies. All you and your clients need to do is to become members of PayPal for free and you can start using it right away.