Merchant Accounts for Non Profit Organizations

Once a non-profit organization has made the decision to accept credit cards, they usually have two choices in order to set up processing options. Firstly, they could set up a payment processing scheme through a traditional merchant account provider. They would then have to use a third-party to manage their tax filing and online advertising. This is usually the simplest and cheapest option after the initial installation. It allows non-profit organizations to only pay for the necessary features it requires.

The other option in this case is to use a processing solution that does it all. This may include payment processing, tax filling, billing etc. Although this option may result in higher rates it does save you time. The reason being that most of these kinds of providers use a preferred credit card processor. Therefore users cannot search for better rates if they are not completely satisfied by the contract.

Due to their donation type model, non-profit organizations have a genuine position in the payment processing industry. The average business usually requires standard features such as sales management, point of sale solutions etc. whereas non-profits aim to focus on recurring billing and donor outreach. Therefore some payment processors that cater for other establishments might not offer provide the necessary services for a non-profit to expand its donor base. Shaw Merchant Group is made up of dedicated professionals who are experts in setting up merchant accounts.

All types of establishments and enterprises in various shapes and sizes need to be able to create merchant accounts. This will allow the business to take on credit card payments for these merchant accounts. Basically when the money is paid to the business and the commission will be deducted for the company that set up the account. Once the payment is verified it can be sent to the respective accounts. Businesses looking for a merchant account to process their payment must also understand that the bank will consider it to be a line of credit. Credit cards are designed in such a way that the customer agrees to pay for goods and services that will be paid for on a future date. Your business will undergo a credit check to provide information that will ensure your banker on certain issues. As for larger enterprises, you may be able to sidestep this necessity by submitting more financial data to support the viability of your business.

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