�I�n�t�e�r�n�e�t� �E�c�o�m�m�e�r�c�e� �M�e�r�c�h�a�n�t� �A�c�c�o�u�n�t� �S�o�l�u�t�i�o�n�s�

Internet Ecommerce Merchant Account Solutions

For your online store to be a success, you will have to get an internet ecommerce merchant account.

Helping Your Online Business

A merchant account allows you to receive and process payments directly in your online store made by customers through credit cards. These accounts are established through merchant service providers such as banks or independent service organizations.

Banks are more secure and reliable in particular in regards to who they allow to open a merchant account. Independent organizations are more flexible and are willing to accept more risk. This usually reflects in their fees and charges but it is worth it.

The risk of an internet ecommerce merchant account is associated with the fact that you don't physically swipe the credit card to scan, so you risk the cards being stolen credit card numbers.

Getting in on the Deal

You should first try to get in account with a bank but, they may have a lot of criteria to pass before they would allow you to open an account. If you are turned down at the bank, you will need to apply with an independent organization.

Once you have made and set up the account, at a bank or independent organization, they will deposit the amount you collected in sales after deducting their fees charges on a daily basis. Some of these institutions also offer other services such as billing authorization, reporting and settlement of services; these may very useful services in the long run.

The Cost of an Internet Ecommerce Merchant Account

There are a vast number of organizations out there and many charge fees. You will need to choose carefully which of these will most benefit you over time so you will make some profit out of your sales and not need to file bankruptcy.

Common Fees

- Intercharge fee: Amount payable by yourself to the internet ecommerce merchant account provider once the credit card transaction is settled. This fee can vary from 25 cents to 70 cents per transaction. This should specially draw your attention when offering something on discount in your e-store; the transaction fee may loose your profit.

- Equipment and installation: This fee is usually a one time charge including hardware/software, set-up and programming. Sometimes if you get this service from your web hosting company they absorb this fee or offer yet another hosting option.

- Monthly fee- This includes a minimum fee in case you don't do any business, statements and excess usage.

The internet ecommerce merchant account is a must have for a successful online store; however who will provide you this service is a choice you must make.

[ Print This Page ]

View this article in another language: