Grocery Merchant Account

Grocery merchant accounts are merchant accounts that are specific to retail businesses in the grocery industry.

Grocery Store Merchant Classification

In order to qualify for a grocery merchant account a business must fit the criteria of a retail merchant account and participate in the primary sale of grocery items. Grocery stores and supermarkets are not the only businesses that may take advantage of the low rates given with a grocery merchant account. Convenience stores that don't offer gasoline and small markets may also qualify for grocery merchant accounts.

Grocery Account Rates

Instances of chargebacks and fraud is very low in the grocery industry which makes these businesses low-risk to credit card processors. The lower the risk associated with a business, the lower the rates are that a processor is able to provide. That is why grocery merchant accounts carry some of the lowest merchant account rates obtainable.

Avoiding Temptation - The low rates offered with a grocery merchant account may make it tempting for some businesses to try and obtain an account. Only those business that truly fit the profile of a grocery store should apply for a grocery merchant account. Many processors do site inspections shortly after an account is approved and will find out the truth about the business eventually. This misrepresentation of a business can have some lasting, and very inconvenient consequences.

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