How Do I Accept Credit Cards Online?
A lot of business owners are creating websites for their businesses. However, not all businesses offer customers the chance to purchase various products and services online. When a business starts to accept various credit card payments via their website, it is a great convenience for the customer and affords the business the ability to collect payments more efficiently.
Obtaining a Merchant Account
In order to take advantage of credit card processing online, the business will need to obtain a merchant account. There are many different companies that offer merchant account services. Business owners will need to fill out an application with details such as the average sale amount (per credit card charge) and the estimated total monthly sales. Additional business information will need to be supplied such as TIN, company address, bank account number and routing number, and business web address.
Customizing the Account
Once the business has become a part of the program, the owners will be able to customize their account. For example, they can specify how they want their program to accept the credit card payments. There might also be different account types that have different features. Business owners must remember that most accounts require a monthly payment. In addition, owners might be able to pick the checkout button that they want to have on their website.
Accepting Credit Cards on the Website
A gateway is the system that authorizes credit card payments that are made on a website. For example, the business website’s shopping cart might connect to the gateway. There might even be a terminal that lets merchants log in and key in the credit card information.
Most companies provide the HTML and an API that the business needs in order to accept credit card payments online. This text can be copied and then placed in the business owner’s website editor.