A Free Guide To
Merchant Account
A Free Guide To
Merchant Account
A bank account that allows for the receipt of credit card funds.
merchant account shopping cart article
Accepting payments online without a merchant account
By Abe Cherian
You may publish this article in your ezine, newsletter on your web site as long as the byline is included and the article is included in it's entirety. I also ask that you activate any html links found in the article and in the byline. Please send a courtesy link or email where you publish to: support@multiplestreammktg.com
Accepting payments online without a merchant account
Copyright © 2005
Do you really need a merchant account?
Deciding when to get your own merchant account for internet sales can be a confusing and expensive venture. If you have a small to medium sized business and only sell a small amount of products then having your own merchant account may not be the answer for you.
Middle Persons and Binding Contracts.
You might not know it, but, in the initial stage of setting up a merchant service, your direct contact is a middle person or a sales agent working for an ISO (Independent Sales Office). In most cases sales agents work on a full commission basis and their commissions are either a straight fee based on a lease amount they lock you in, or a percentage of sales that you generate or in some cases, both.
Even though equipment lease is a non-issue for e-commerce since transactions are processed in real-time by a gateway company, most merchants find themselves in a binding lease for a minimum of 3 to 5 years.
Expensive Fees and Minimum Commitment.
Once you are approved by the merchant bank (after a business and personal credit check), you are required to maintain a minimum amount of sales per month (or pay a minimum fee) and in a most cases, limited to making a certain amount in monthly sales (limited to maximum amount of sales permitted by the merchant bank).
Some of the costs involved.
Setup fee - Anywhere between $40 - $200 Monthly fees -Anywhere between $25-$50 for statements and minimum fees. Per transaction and charges fees - Usually between 2%-7 % in fees and .30-$1 per transaction. Gateway fees - $10-$30 per month (most gateway companies are charging a per transaction basis now) SSL certificate - Can be as much as $250 Shopping cart fee or software purchase - Monthly can range $20-$70 and software purchase can be as much as $1400.
In addition to the cost is the technical aspect of setting up your site to
Make Money Online Without Selling Your Soul
Anyone can create or promote a product to make money online. This is why the internet is full of scams. It is possible to earn an online income without selling your soul. Read this article to find out how.
International Address Screening
ECommerce merchants need to protect themselves against potential fraud resulting from international transactions. International address screening is an effective measure that should be fully utilized.
Why Buy an Ecommerce Business?
One of the best ways of breaking into the world of ecommerce is buy an internet business for sale. There are thousands of websites for sale all over the internet which provides a large pool of choices for you to select from. Purchasing an ecommerce business for sale is more economical than attempting to start your own internet business from the ground-up.
Make Money Online - Two Myths Debunked
Is it really complicated to make money online? The answer depends on who you choose to believe. If you believe these myths, you will never earn money online.
Make Money With Craigs List - eBay Alternatives
Once many online business people get their feet wet by running a successful online storefront on sites like eBay, they begin to look at other possibilities that exist in cyberspace for increasing their business. One popular alternative is CraigsList, an online community that uses free want-ad style posts to do everything from Rant and Rave and to sell everything under the sun. While CraigsList has done an amazing job by essentially making newspaper want ads obsolete overnight, it isn't as safe or as profitable a marketplace as eBay is.
E-Trade Pro Means No Ecommerce Checkout Failures
In these challenging times, the last thing you want is for the technology solution that powers your online store to let you down. e-Trade Pro takes care of the checkout problems associated with other ecommerce software solutions.
Best Practices For Online Cardholder Validation
ECommerce merchants bear the financial responsibility for fraudulent transactions. They also get charged chargeback processing fees. A cardholder validation should be done prior to processing a card payment.
Starting a Wholesale Video Games Business - How?
Insights for starting your very own e-commerce business, especially when specializing in video games. Take a look! Starting a wholesale business that is profitable to my mind can only mean among the many, buying wholesale PlayStation 3 comes into mind by buying smart early as an easy item for Christmas, and selling smarter by selling at a higher price initially purchased. Very simple.
Payment Gateways Brings Money For Shopping Carts
Shopping cart and Payment Gateways are inseparable!! If a business has decided to go online, selling of products or services on Internet, a shopping cart is required, plus a mode to accept payments.
use a shopping cart and real-time processing. Not all gateways, merchant accounts and shopping carts play well together. You must make sure that each can work with each other.
Fast and Easy Way To Accept Payments Online.
Now, if you are a larger business or do a lot of sales each month perhaps your own merchant account is the answer for you. It can save you money in the long run. But if you are just starting out with an online business, then a third party payment service may be the answer for you.
Third party companies handle all the background details, pay the monthly fees, assume the risks of fraud and charge backs, and handle all the secure shopping your customers will expect when shopping online.
There usually isn't a set up charge, gateway fees, SSL charges and shopping cart set up. Depending on the service you choose, they can give you simple HTML code to add to your site or allow you to use "buy buttons" or both. Fees range anywhere from 5.5% to 13.5%. Some companies charge a set up fee and a per transaction fee.
Then there is always Paypal. A useful service for new comers to the online payment arena but it has its drawbacks. With Paypal:
Your customer must set up an account with them They can FREEZE your account They can set limits on monthly transactions Online Payment Solutions:
Clickbank Paypal 2Checkout
I suggest you explore all your options and decide what is best for you financially and technically. A little research online can save you money and time in the long run.
Abe Cherian is the founder of Multiple Stream Media, a leading performance-based Internet advertising
company dedicated in helping small businesses create online presence, brand recognition and online automatio. Weekly TipsWeekly Tips Newsletter
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Anyone can create or promote a product to make money online. This is why the internet is full of scams. It is possible to earn an online income without selling your soul. Read this article to find out how.
ECommerce merchants need to protect themselves against potential fraud resulting from international transactions. International address screening is an effective measure that should be fully utilized.
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