|
 |
| Show Me The Money ! |
Offering the best product
at the best prices through the best shopping cart system in the
world doesn't do you any good unless you have an easy way for customers
to pay you!
Traditionally, merchant accounts for companies selling through the
internet have been difficult to obtain and expensive. To make things
even more confusing there are hundreds of websites that guarantee
that their system is the best. It's no wonder that this is the most
confusing aspect of setting up a web store. |
|
|
|
| |
The most efficient way for your
customers to pay you is by credit card. Annual e-commerce
transactions total in the billions worldwide! If you can't accept
credit cards you will drastically reduce the chances of making
that sale.
There are two primary methods for accepting credit cards. The
first is to use a third party service to handle your processing
and the second method is to process them directly through your
own merchant account.
|
|
|
|
| Third Party or Merchant Account? |
Probably the best known third party credit card processor is
Paypal.com.
If you decide to have a third party process your charges they
are who we would recommend. The main benefit of using Paypal is
that there are no monthly fees and you pay them only when a customer
pays you. If your sales are seasonal or sporadic this can keep
you from paying monthly merchant account fees even if you didn't
make a sale. We often recommend that customers choose this method
initially to save costs as they can always get a traditional merchant
account when their sales volume justifies the additional costs.
The main drawbacks to using Paypal are that it doesn't project
the best business like image and their transaction fees are slightly
higher than standard merchant accounts. Paypal is compatible with
our OS Commerce shopping cart solution and they offer their own
basic shopping cart as well. Paypal is not compatible with the
standard Ala Cart system.
Having your own merchant account makes things very easy. Your
website projects the most professional image and your customers
have your company name listed on their bill instead of "Paypal"
or another 3rd party service. When a charge is placed through
your own account the funds are automatically deposited into your
checking account within only a few days.
|
|
|
|
| What does a merchant account cost? |
| Generally speaking your
merchant account will have the following costs associated with it:
|
|
|
|
- Setup Fee - Usually $100 - $300 depending on provider
- Monthly Service Fees - $10 - $40 depending on provider
- Transaction Fees - Usually 2.3-2.6% Plus .30 per sale
|
|
| What does a merchant account give me? |
| With your own merchant account
you will receive the following: |
|
|
|
- Ability to accept credit cards in your own business's name
- Web based terminal for manual entry of charges
- Ability to have automated processing with select shopping carts*
- Online Reporting system and monthly paper statements.
- Automatic settlement of charges directly to your checking account
|
|
| *Automated processing
is dependent on the software you are using and the gateway offered by your
merchant account provider. For automated processing with OS Commerce please
inform your merchant provider that you require the "Authorize.net"
gateway. This is one of the most common gateways and just about every merchant
provider can offer it. |
|
|
| How do I get a merchant account? |
There are many companies offering Merchant accounts and unfortunately
many of them are not legitimate, reliable, or otherwise compatible
with the needs of online businesses. We are proud to recommend
the following companies that offer reliable and affordable merchant
accounts. If you need more information or advise please feel free
to call us toll free at 1-800-850-5608.
|
|
|
|
Charge.com
- One of the top Merchant account providers in the nation. Offers
free setup and same day approvals. Charge.com has been recommended
by NBC, Apple, Yahoo and AOL! |
|
|
|
|
|
Wells
Fargo - Wells Fargo has helped businesses securely move money
for over 150 years and is the first and leading Internet financial
services provider. Wells Fargo will be there to provide security,
stability, and the latest payment options. |
|
|
|
|
|
Intuit
Quickbooks- For those customers who already use Quickbooks to
manage their business finances Intuit offers the Quickbooks Merchant
account service. Their rates are very competitive and it interfaces
directly with the Quickbooks system. |
|
|
|
|
|
If you need assistance in select the right Merchant Account for
your business please contact us toll free at 1-800-850-5608 or
submit an online
information request.
|
|
