Online Merchant Accounts
E-commerce, Internet, and online merchant accounts all refer to the same thing. They permit businesses to accept credit cards on their websites. Some will even allow you to accept debit cards and electronic checks too (for an additional fee). Traditionally, merchant accounts came with high setup fees and application costs. Fortunately that has changed and you can now find Online merchant accounts that don't have any setup or application fees.
The waived application and setup fees make it easier for small businesses to obtain merchant accounts. Costs that will still be incurred are the monthly gateway fee, statement fees, and transaction and discount rate fees. Streamlined applications mean you could be approved for an account in minutes. Many people used to not apply for an account due to the prohibitive application fees. Now the only thing you have to lose by applying for online merchant accounts is about five or ten minutes of your time.
Online Merchant Account Options vs. Offline Options
If you own a traditional brick and mortar business, there are traditional retail merchant accounts where you swipe credit cards through a credit card machine, key them in, or call them in. While this process is a little bit different than accepting credit cards online, it's just as effective. Within seconds of swiping the cards, you will receive authorization on the transactions. Unlike waiting for checks to clear, with credit cards, your funds will be deposited into your account -usually within two business days. Many merchant account providers will sell you the equipment or terminals whether or not you have your account with that company.
Online merchant accounts don't require any equipment. Once you are approved all you do is put some simple html scripts into your website and you will be able to accept credit cards. In addition, you will receive a virtual terminal that allows you to run credit card transactions manually. This is always good because many times your customers will be on your website and call to ask some questions. You never want to miss a sale so you will be able to accept payment from them right while you are on the phone.
For companies who do business in different locations, there are also wireless accounts and mobile card machines. These terminals allow you to accept credit cards wherever you conduct business; such as trade shows, craft fairs, or clients' offices. No matter what type of merchant account you need, the right credit card processing company can assist in setting one up for you.
Call 888-760-1700 and we'll be more than happy to give you all the details about our online merchant accounts or you can apply online.