| Simply explained, a merchant account is the | | | | usually by days end. Fees do apply to all |
| way to accept credit cards as a form of | | | | services including a low percentage rate and |
| payment for products and/or services on your | | | | nominal fee per credit card accepted by your |
| website, online store (like Ebay), or brick | | | | business. Discover and American Express fees |
| and mortar retail establishment. That's it; | | | | are higher than Visa and MasterCard. |
| so any stressing over the need for credit | | | | |
| card services for your ecommerce or other | | | | If you're an online retailer as well as a |
| business has just come to a screeching halt. | | | | brick and mortar one, you'll need a different |
| Long gone are the days of major corporations | | | | type of account for each. Ecommerce accounts |
| and retailers being the only ones who could | | | | are used for Internet website processing and |
| set up such accounts, so there are no | | | | Card Swipe for the physical store. The |
| excuses. All you and your business require | | | | primary difference lies in the 3 or 4 digit |
| now is a gateway to get you set up with the | | | | code on the card that is needed when the |
| right type of service for your needs. | | | | physical card isn't present to check the |
| | | | signature. This security feature is for the |
| If you're setting up a website that will | | | | benefit of your customers as well as the |
| benefit from credit card processing, you | | | | protection of you and your business. |
| might need a shopping cart if your website | | | | |
| offers such products and services. Most | | | | After choosing the right service for you and |
| companies who offer merchant accounts don't | | | | your business, you'll need to submit an |
| have the necessary software to place a | | | | online application. When received, your |
| shopping cart on your site, but the better | | | | service will send you a Cardholder Electronic |
| services will set you in the right direction | | | | Data Storage compliance form that you will |
| by having links to websites with such the | | | | need to initial/sign before faxing or sending |
| necessary products to get you up and running. | | | | in and a page with your schedule of fees, |
| Other than that, you'll just need to know a | | | | Merchant ID Number and the directions for |
| few things about a merchant account. | | | | proceeding. You will also need to send in a |
| | | | voided check or deposit slip to the account |
| First, just about every merchant account | | | | you wish to have your funds deposited into. |
| service grants you the ability to accept both | | | | If you process transactions before your |
| Visa and MasterCard, with the option to take | | | | service receives your voided check/deposit |
| Discover and/or American Express. All monies | | | | slip, any accumulated funds will be held |
| accepted will be deposited into your personal | | | | until the necessary paperwork has been |
| or business checking or savings account, | | | | received. |