Accept credit card online
Do you have an online business? Do you sell goods online? If yes then you would be looking for a way by which you can accept credit cards online. If you are then here is something that can help you understand why accepting credit card online is important for your business and how can you do it and from whom can you access this service.
Why accept credit cards online ?
When you accept credit card online then you can help your business expand by getting more customers and be customer friendly. By accepting their credit cards online you can target the following customers:
Impulse buyers. When you advertise about your product on the Internet the buyers would be eager to know more about your product and buy it. If they have a credit card and like your product then you can make an immediate sale. However, if you don't have a means by which they can buy your product immediately then the process is long and you might end up losing your customer.
International customers. You can also make sales with the international customers. If you don't have the facility to accept credit cards online then in this way you will be losing your international customers.
How can you accept credit card payments online ?
When it comes to accepting credit card payments online then you can have two options :
Having a merchant account: You can opt to have your own merchant account. For this you will need the help of a bank that would allow you to open a merchant account. The requirements for opening the account vary from one bank to another.
The bank would transfer the processed money into your account within a day or two of the sale and then deduct the money from the customers account. When you avail this service you are required to pay some commission to the bank. This commission can vary from 1.5-5% for each credit card transaction. Besides the commission you are also supposed to pay a pre determined set up fee and a per transaction fee. Depending on the contract you would also have to pay for the equipment rental fee for the machine that is used to swipe the credit card. The fee would typically be dependent on two main things :">
When you apply for a merchant account with the bank to accept credit card the bank would typically assess your business based on its sales and the field in which the business is being done. Besides this the bank would also assess your credit record and the credit report of the business. It is advised that when you get a start-up loan for your business you should apply for a merchant account then itself.
Through a third party merchant: This is your second option where you can process your credit card payments through a third party merchant. There are a number of companies that provide this service in exchange for fees and percentage of commission.
Which Method Should You Use?
When it comes to deciding on which method should you use for accepting credit card payments online then it can be a difficult task. When you decide on the method that you should have to accept the payment then you should first assess the requirements of your business, the profit that you make and the daily transactions that you make. Once you have all the statistics in hand then you can decide which will be the best option for you.
For opening your own merchant account the cost is higher than what you would have when using a third party merchant account. The third party merchant account would not require any set up fees. On the other hand the transaction fees with a third party merchant account is higher in comparison to your own merchant account.
Using a third party merchant account is easy in comparison to your own merchant account. If you have your own merchant account then it would give your business a professional look.
Companies providing accept credit card online
Some of the companies that help in accepting credit card payments online are mentioned below.
Card Service International: http://www.aboutcsi.com
They fulfill the processing requirements of accepting credit cards online and also checks. They have specially designed products for different types of businesses. They have options like Linkpoint Central, Linkpoint Secure Payment Gateway and Linkpoint Virtual Check, which is an electronic check. Besides these they have many other options also. You can contact them at 6360 East Thomas Road Suite 114; Scottsdale, AZ 85251; (800) 295-0819 VIP ext. 180; (480) 970-6560 Fax.I Transact Inc: http://www.itransact.com
They guarantee low rates for helping you accept Credit Cards, Debit Cards, and Gift Cards. Their service is reliable and secure. You can contact them at PO Box 999; 314 South 200 West; Farmington UT 84025-0999; Phone: (801) 298-1212; Fax: (801) 298-9789.Charge: http://www.charge.com
With the help of their versatile software you can handle a number of credit card transactions in a day. They help a number of customers in accepting credit card online and can help you also by providing the service at low rates. You can contact them at P.O. Box 1101; Alpharetta, GA 30009; 1-800-70-MERCHANT (1-800-706-3724); email: accounts@charge.com; fax: 1-800-662-3527.Authorize Net: http://www.authorize.net
This is a service from Lightbridge, Inc., and manages the submission of payment transactions to the processing networks on behalf of its merchant customers. They have been functioning since 1996 and are leading providers of Internet Protocol (IP) based payment gateway services, enabling merchants to authorize, settle and manage credit card and electronic check transactionsAuthorize.Net
915 South 500 East Suite 200 American Fork, UT 84003 Tel : 801-492-6450 Fax: 801-492-648910800 NE 8th St, Suite 600
Bellevue, WA 98004 Tel : 425-586-6000 Fax: 425-586-6005Authorize.Net Holdings, Inc.
293 Boston Post Road, West #220 Marlborough, MA 01752 Tel : 866-916-7380 Fax: 508-229-3255http://www.creditorweb.com/categories/airline-miles-credit-cards.html
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