Your Gateway to Accepting Credit Cards
What is a Merchant Account?
A merchant account is a type of bank account that allows businesses such as yourself, to accept payments made by credit and or debit cards. It is linked to a credit card processing company who does the underwriting for all the processed transactions. Once an account is established and approved, you will then be set up to accept credit/debit cards and those transactions will then be deposited into your bank account once settled.
Why do you need a Merchant account?
A Merchant account is needed in order to safely and legally accept credit/debit payments from your customers. Additionally, findings show the average American consumer will spend between 12 and 18 percent more per transaction when using a credit card as opposed to cash or check, even on small ticket purchases.
Why Go Through Us?
When going through American Metro you have easy access to statements and questions , no cancellation or early termination fee, and 24 hour on call support for any issues or questions. We can help clarify some of the mystery surrounding the new EMV standards as well. We can even match your current rate or possibly lower your rate.
The thing that really sets American Metro apart is our ability to set you up with an Event Account. These accounts are created specifically for short term events. An event account is only active while you need it. When your event is over, the account is assigned to a seasonal close status. There are no fees in the off-time so you pay nothing while you’re not using it. Then, the next time your event rolls around, it can be re-opened without having to go through all the paperwork again.
Credit Card Payments
Percentage of credit card payments by transaction total:
Average increase in spending when paying by credit card
Average increase ranges from 16-20%
Average ticket price at McDonald’s before and after implementing credit card processing
Average sale before accepting credit cards
Average sale once credit cards were accepted
Interesting figures out from Dunn and Bradstreet point to an easy way to increase POS revenue at events and even in general business transactions. Quite simply, push the power of plastic.
Findings show the average American consumer will spend between 12 and 18 percent more per transaction when using a credit card as opposed to cash or check, even on small ticket purchases. For instance, global fast food giant McDonald’s reports their average sale per customer increased from $4.50 to $7.00 when using their credit/debit card.
And most other establishments where the average ticket is above $20.00 find more than half of their customers will opt for plastic over cash.