Duo MID Merchant Account: Everything You Need to Know
These days, the majority of consumers prefer paying with cards, either debit or credit, in large part because they are simpler and more secure than cash. But in order for a business to be able to accept cards, what’s known as a merchant account needs to be established.
A merchant account is where a business safely stores its non-cash payments. To create such an account, a business needs to form a relationship with a merchant services provider like Merchant Industry.
A specific example of a kind of merchant account is the duo MID merchant account. This type of merchant account is unique because it can be used for both cash discounting and traditional card processing. Duo MID merchant accounts are utilized for a variety of reasons these days and these benefits are discussed below.
Why Duo MID Merchant Accounts Are Beneficial
The main benefit of a duo MID merchant account is that it allows a merchant to offer both cash discounting and traditional credit card processing through a single device under a single identification number. Cash discounting is a program that incentivizes customers to pay with cash, and it’s ideal for merchants who don’t want their profits reduced by burdensome transaction fees.
But there are still customers who prefer paying with cards, regardless of what additional fees are associated with this convenience. This means that merchants need traditional card processing software to serve these customers.
To ensure both groups of customers are satisfied, a merchant can utilize a duo MID merchant account, and usually at no additional cost. The merchant will still be able to avoid hefty card transaction fees, as the merchant services provider will only charge a flat rate for all card processing.
Who Can Implement Duo MID Technology?
A duo MID merchant account is ideal for businesses that want to take advantage of cash discounting without alienating customers who are used to paying with a card. With duo-MID-enabled payment processing technology, a merchant can seamlessly offer cash discounting as well as traditional processing at the checkout counter. The key for the merchant is getting a merchant service provider that delivers best-in-class processing technology along with a processing service that never fails.
Merchant Industry & Duo MID Technology
Merchant industry is the leading merchant services provider offering duo MID merchant accounts. These accounts are backed by some of the best card-processing technology on the market right now. Merchant Industry duo MID merchant accounts are utilized by grocery stores, retail stores, quick service restaurants, e-commerce sites, and many more businesses both small and large.
With a Merchant Industry duo MID merchant account, a merchant can take advantage of all the benefits of cash discounting while still delivering seamless, traditional credit card processing.
Best of all, there’s no additional cost for this convenience. The merchant can still expect to pay a flat rate for all their credit card processing. Moreover, with Merchant Industry a merchant can accept nearly any currency and preferred payment method, all while avoiding the traditional transaction fees that do nothing but eat into hard-earned profits.
About Merchant Industry
In 2007 Merchant Industry was founded by CEO Leo Vartanov on the principle that businesses should be able to purchase credit card machines and merchant accounts at an affordable price while also backed by great service. It was a normal goal at the time, but it helped to change the entire industry. Through Leo Vartanov’s leadership, Merchant Industry pioneered a call center structure to the credit card processing industry Now, 15 years later with well over 20,000+ merchants processing over $5.5 billion per year, Merchant Industry sets the standard for price, customer service, ethics, and integrity.