Whether you own thousands of dollars or just a few hundred-at least two
hundred, and you are providing a service, it may be a good idea for you
to check into accept payment online from your customers. This is a type
of merchant status and the first place for you to look to achieve that
status is the bank you do business with. Just because you may have been
doing business with them for a long time doesn't mean they will
automatically give you merchant status though, and if they turn you
down, don't worry, you have other options. You can try a couple of other
banks or you can try other companies that specialize in issuing
accounts to online merchants. Do a Google search and type in credit card
processing, you will find many outfits looking for businesses seeking
merchant accounts. This will not be a cheap endeavor either; start-up
fees to accept payments online can amount to around $200 and monthly
processing fees of around $20 dollars.
While searching for your merchant account so you can accept payments online, you should also realize that you are going to have to make your customers feel safe while doing business with you online. Wherever you buy your credit card processing should also supply you with a secure transaction environment, if they don't find one some where else before you start accepting payments online. Despite what you may have heard about accepting payments online, credit card payments are still one of the safest payment methods available online. There are many fraud-prevention tools out there so check them out and get one that will suit your needs. You can also protect yourself by using the card validation code 2 {CVC2} and the card verification value {CVV2} verification systems of MasterCard and Visa, respectively. These verification services use the three-digit codes printed on all MasterCard and Visa cards to help you determine whether your customers are using legitimate cards. Also, you may want to ask prospective processors about the costs of storefront solutions that you should have to make your website a success, things like shopping carts, Web hosting, online payment gateways, virtual checks, customer tracking, databases for your orders, and a way to calculate tax and shipping charges. These are all the things you need for a successful Web site business.
Shop around for a credit card processor that best suits your needs. Talk to several different processors and don't be afraid to ask questions. Find out about:
The discount rate: The percentage of each transaction paid to the merchant account provider. If your monthly charges are less than a certain volume, the processor may charge a higher percentage. Just make sure you read all the fine print before you start doing business with the services you need to run your own business. You want your customers to feel secure in all aspects of doing business with you, so they will keep buying your products and you can accept payments online.
While searching for your merchant account so you can accept payments online, you should also realize that you are going to have to make your customers feel safe while doing business with you online. Wherever you buy your credit card processing should also supply you with a secure transaction environment, if they don't find one some where else before you start accepting payments online. Despite what you may have heard about accepting payments online, credit card payments are still one of the safest payment methods available online. There are many fraud-prevention tools out there so check them out and get one that will suit your needs. You can also protect yourself by using the card validation code 2 {CVC2} and the card verification value {CVV2} verification systems of MasterCard and Visa, respectively. These verification services use the three-digit codes printed on all MasterCard and Visa cards to help you determine whether your customers are using legitimate cards. Also, you may want to ask prospective processors about the costs of storefront solutions that you should have to make your website a success, things like shopping carts, Web hosting, online payment gateways, virtual checks, customer tracking, databases for your orders, and a way to calculate tax and shipping charges. These are all the things you need for a successful Web site business.
Shop around for a credit card processor that best suits your needs. Talk to several different processors and don't be afraid to ask questions. Find out about:
The discount rate: The percentage of each transaction paid to the merchant account provider. If your monthly charges are less than a certain volume, the processor may charge a higher percentage. Just make sure you read all the fine print before you start doing business with the services you need to run your own business. You want your customers to feel secure in all aspects of doing business with you, so they will keep buying your products and you can accept payments online.
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