9
Oct
2010
Website Credit Card Processing – How To Find A Suitable Service Provider
E-commerce websites have been around for a number of years, yet it isn’t uncommon to see owners struggling with difficulties in getting approved for merchant accounts from banks and financial institutions because of the risk of credit card fraud. Luckily, there are other internet merchant services that are keen to support e-commerce websites. These specialized service providers have an in depth knowledge of the difficulties involved in managing e-commerce businesses irrespective of their being low or high risk, small or large undertakings.
What should you look for in providers of merchant account and online credit card processing for small business?
There are innumerable merchant account services out there that cater to an extensive selection of business types. Before requesting a merchant account, scrutinize your credit history. If there is a possibility of sprucing it up, work on it. A good credit report will get you better rates. Credit card processing services also also expect that you publish the following information on your website:
- a well-defined policy on returns and refunds
- terms of use statement
- a privacy policy
- a shipping policy with details of included costs
First get a merchant account: To get going, an e-commerce business needs to have a merchant account to process credit cards. There are two ways to get it:
- True merchant account: This account is one that a business holds at a bank or other financial organization; this option is generally favored by large, established businesses. The business requests a merchant account; the bank reviews the credit history of the business or the proprietor, and the category of commerce – (low or high risk) that will be carried out through the website; the bank approves or rejects the request based on this information. The e-commerce business is bound by the rules defined by the bank.
- Third party processor account: This account is well suited to small businesses or startups, and high risk businesses that may not get approved for merchant accounts otherwise. The online business submits an application to a third party service that processes all the credit card transactions in the account owned by it. The business does not go through stringent level of checks and must only conform to the policies defined by the processor. A good example of a trusted third party processor is PayPal.
Select a suitable shopping cart application: Next step to start accepting online payments is to select a suitable shopping cart. You need a shopping cart application that will integrate with your merchant account and payment gateway.
Lastly, compare credit card processing service rates: Request quotes from three or more providers and compare their credit card processing fees and features. The charges can vary depending on the average sale per transaction, (average ticket size) and the number of transactions processed in a month. Whatever be the applicable fees, they must be explained clearly and specified in the contract. Fees charged by most providers include:
- setup fee
- discount fee (percentage of each transaction)
- transaction fee
- monthly recurring fee
- cancellation fee
- payment gateway charge (if not included in the package)
- application fee (optional)
- miscellaneous fees
You should take the time to do a comprehensive comparison of vendors before making a decision. Look at the services rendered, rates, customer service, etc. Get references and ask them questions to ensure the provider has delivered in the past. Switching credit card processing services could be a tiresome job. Get it right the first time around.
2
Dec
2009
FastTransact On Line Merchant Accounts And Credit Card Processing Service
FastTransact Online Merchant Accounts and Credit Cards Processing Company
As a business owner, it is very important to act fast and make sales. The problem often comes when they don’t know how to increase the profits to make more money. If you are in this position, it is time to find a way out. Try to ask yourself, to run a business, do you provide credit card processing alternative? You may think, does your company need credit cards processing? Before you sign up and know advantages from merchant account or credit cards processing, we like to introduce Fast Transact.
Let’s uncover the benefits using merchant account or credit card processing for your on line or offline business.
Merchant Accounts Service Enhances Your Professional Transaction.
When clients come to your website, online store or retail shop and they know that you can do payment using credit card, they will think you run a good business and they like to buy more and more. They also like secure payments and may inform their pals if your company has a great service. This is because a company that can receive credit cards payment options is showing to their buyers that they are professional companies and they care about their buyers. The customers also feel comfortable to pay and they do not need to go to ATM first to withdraw some cash to pay you. Most buyers who purchase using credit card will come again and again to purchase at your store. Require to know, Fast Transact provides merchant account and credit card processing for US and Canada so you are able to accept credit cards from both countries.
It’s affordable and secure.
It’s certainly cheap, fast and secure to pay transactions using credit card processing. Unlike third payment party, it is really expensive and they will charge your customers. This is not what a client wishes. Most of merchant accounts provide free credit card processing equipments for business owners. This can help them to save their money. If there’s merchant account issuer asking you as a business owner to pay credit card terminals or shopping cart software, you can try to negotiate with them. You can convince them that you have big transaction in a month. The more transactions on your store, the more merchant account likes you. Most of credit cards processing providers support per-transaction fee and the fee is lower than 10%. The fees depend on the risk of your business.
It’s flexible and quick.
Merchant account or credit cards processing company allows business owners to have more than one payment alternative. So there is a customer wants to pay using other transactions like Paypal, they can do it as they wish. Using merchant account company also can save your time of doing an accounting job.
You can go http://businessmerchantaccount.us/ to compare and find out more about merchant accounts or credit card processing for your business, you also can register Fast Transact Online here