This will also help you analyze the trends in the market by telling you what products are saleable.
Electronic commerce has been around for more than a decade and the number of people who decide to do business online is still going up. While some people buy items from auctions or from other merchants, B2B or business to business portals are also making their mark by providing buyers and sellers a venue where goods can be sold wholesale.
Do they also open a merchant account? In some cases yet but most of the time, these companies prefer bank to bank transfers.
Is this one reason why some businesses find other ways to accept payments? It is possible because a lot of banks which encourage you to open an online merchant account with them require you to open a separate account for your online business.
What this means is paying extra monthly fees while they get a certain percentage for every transaction made.
Some banks even require you to use their own payment gateway or online terminal and that is an additional charge which could cost you thousands of dollars.
So is it worth it? Despite the cons, the answer is still yes because you need a merchant account to accept the payments for whatever item the customer purchased from you through the web.
If you are still skeptic and are well aware that you can accept payment through other means, keep in mind that and merchant account is still the safest and most secure way for both you and your customer.