An Online Merchant Account Can Help You Develop a Successful Online Business

The latest statistics show that over 90% of online shoppers pay for purchases with their plastic cards. What does it mean? If you own an online store, as replica store, pharmacy store or sell other goods online, and do not have an opportunity to accept credit card payments for your online sales, then you are mission out big money.

To be able to accept credit card payments you should open an online merchant account. Modern accounts offer simpler terms, lower rates and a much wider variety of services than merchant accounts of a few years ago. Actually, with such a great number of advantages, there are no reasons why you should delay opening merchant account for your online store.

If you are afraid to open an account, because you are not sure what types of services you will get and what fees might be entailed to these services, go on reading and you will, probably, find the answers to most of your questions. If there still be questions to answer, take some time to make a little online research.

An online merchant account is a special software program, provided by account providers to enable e-commerce business owners make consistent and accurate processing of credit card transactions. There are two types of online merchant accounts: real-time processing and deferred or delayed processing. The type of account will depend on the amount of daily sales you expect to generate.

In real-time account, all online transactions are entirely automatic. Money transactions are processed at the time the sale is made. To get sure that the sale is successfully completed, a buyer can look at a virtual receipt, which will be printed on the screen.

In a delayed account system, information about buyers’ credit cards is entered into your online shopping cart system, the same way as in real-time account. Credit card information is not instantly processed. The received data is stored until a business representative or sales person retrieves it and manually enters into the store computer, which is actually a virtual terminal. Since this type of account system requires a human to manually enter each credit card information, it can be the right option only for online stores generating small amount of sales.

To eliminate the need for manual re-entry of data and to make the paying process easier, opt for real-type account system. Of course, you can choose this system even if you expect low sales volume, but remember that it will cost you more than delayed processing system.

By opening an online merchant account, you will get a shopping cart system, where buyers will enter their credit card and personal information. If you choose a real-time system, the merchant service company will also provide you with additional service called getaway provider, which will give additional protection against fraud.

Fees associated with online merchant accounts vary from provider to provider. In most cases, you will have to pay transaction fees, report fees, daily account fees, monthly activity fees, getaway fees, etc. Be sure to ask your potential provider to give a complete list of fees you will have to deal with.

To open a merchant account you will need to have business bank account and business license. To be able to accept sales information, you will also need a website and a shopping cart system.

Online merchant account is an important option for businesspersons running online stores. Open a merchant account today and you will get increased revenue in just a few days.
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