Did you know that there are more than 14.4 billion credit cards in the world and about 160 million consumers in the US with at least one? Apart from drawing new potential clients, applying for a merchant account will give your existing customers another way to pay for your services, thus giving your enterprise an edge over the competition. Figure out the fees, rates, and penalties, find a reliable processor, gather all the necessary information, and the application process will go smoothly.