Advertising Merchant Account
The advertising business is considered the most profitable after real estate transactions and after the sale of antiques. Indeed, with the rapid growth of goods and services in the market, the need for their promotion increases. Here advertising comes to the rescue, the supplier of which is advertising agencies, companies, and private self-employed specialists.
The advertising business adjacent to many areas, and their main ones are public relations, direct marketing, promotion of goods and services, advertising at points of sale, exhibition activities, and others.
Among advertising sources are:
- Outdoor advertisement.
The main feature of the advertising business is that you can start it without any unique financial investments, and it will pay off pretty quickly. One has only to determine the direction and form of the activity correctly. Moreover, the advertising business is, first of all, the provision of services.
The advertising business is irrevocably changing and leaves the stage of mass communications. Innovative advertisement, equipped with the latest achievements of psychology and sociology, highly intellectual in its methods, has emerged. Those advertisers who will design their business today, having under consideration these new trends will receive the bulk of the future advertising market.
What is an advertising merchant account
A merchant account is a specific account that allows you to pay for goods and services directly on the corporation website. The organization that registered the merchant receives its internal code, which helps to distinguish it from a vast number of enterprises around the planet. This code is present in all transactions conducted through the company’s website. Your advertising merchant account is tied with the account of the organization so that the payment from the customer’s card is transferred directly to you.
How does transaction flow?
The acquiring bank (provides initial transaction processing and undertakes all card transactions with merchants in the scope of its work) gives the client a unique identification number, with the connection to the bank account of the company. Thus, when a customer pays for a good or service, the money from a credit or debit card automatically goes to the merchant account.
What lies within this process? Each person who purchased on the Internet at least once interacted with a merchant account. From the consumer’s perspective, everything is clear: you select a desirable product and making a purchase.
The whole process involves several members:
After selecting the product and clicking the “Pay” button, the payment processing center (the company which provides card payments) redirects the client to the secure page of the payment form. Then they enter the number, expiration date, and CVV-code of the card.
After that, the request flows to the acquirer bank, which contacts the payment system. Further, the payment system requests information on the card from the issuing bank. If everything is in order (the account is active, and there are enough funds on its payment card), the payment system sends a confirmation to the acquirer bank. The information goes back to the processing center, which notifies the seller that the payment has taken place.
What is required to open a merchant account for the advertising business
In order to obtain a merchant account for your business, your company must provide the following package of documents:
- constitutive documentation of institution;
- information about refund policy;
- terms and conditions;
- information about management board;
- company status information;
- company statements.
The financial institution or processing center where you intend to apply for an account registration should receive as much information from you as possible. This organization will monitor all the data for authenticity and legality.