How to accept Online Credit Card Payments
How do I get started?
(Click here for a quick overview.)Step 1Obtain a "Merchant Account":Sign up hereA merchant account is used for depositing a customer's funds from their credit card/bank account into your checking account. There are various fees involved in this process. Visa and MasterCard charge certain fees as well as Bank institutions and the Bank Processors that handle parts of your transaction in the process. A merchant account provider combines all of these fees into one package. With an Online Website business, fees are higher than 'Store-front' businesses, due to the increased risk of credit card fraud when conducting charges without physical evidence of the cardholder. For example, checking a persons identification card like a drivers license and obtaining a physical signature from the card holder. Without these factors, there is a much greater risk factor for fraudulent activity to occur. I already have a 'store-front' merchant account. Do I need this? If you already have a merchant account for any type of physical business and you want to have an address on the web to conduct business, you will need to contact your banker to be sure that your current merchant account is capable of accepting 'Online' website transactions. Some types of "store front" merchant accounts allow you to accept a small portion (amount depending upon what you designated when you applied for your merchant account.) but the cost you will pay for that transaction will be your discount rate + an additional 1-2% fee for Non-swipe fees. As a representative what is best for you. Step 2Obtain a "Payment Gateway" for processing credit cards.
Step 3Obtain a Shopping Cart and SSL access.A secure shared server certificate - SSL access, is included at no cost in our NetsiteCart plans. What you will be selling online will dictate what type of shopping cart you will need. For a FREE consultation call 1-866-4My-Host (1-866-469-4678) or email sales@nvhost.com and ask for a free Online Business consultation. Designate an appropriate time to call and a contact telephone number. We will give you truthful advice on what would be your best option.
What are the exact fees and costs for me?
Are there any 'hidden fees'?In some cases, extra or hidden fees (1-2% of total transaction) for overseas credit cards, business credit cards or unverified billing addresses, may occur. This is usually a very small amount of most transactions if any. Get approved online right now by filling out our fast application. Sign up here |