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Online Merchant Account Overview

Online business owners realize that providing customers with the possibility of paying for services or products with their cards is the best way to enhance business and therefore increase profit. It is a fact that online shopping is becoming more and more popular nowadays and that the majority of online customers prefer paying for the services and goods they buy with credit cards. That is why any person, owning online store, or service company should consider setting up an online merchant account. An online merchant account provides customers with convenient and instant payment method and thus, gives new opportunities for business expansion.

An online merchant account is very useful for any online business, as it enables business owners accepting credit card payments. To open a merchant account one must apply to a bank, offering this service, or to any online merchant account t provider. An account provider authorizes credit card purchases and ensures that the money is put into a merchant’s bank account. Originally, banks didn’t offer this service to online business owners. Usually banks do not offer online merchant accounts because they are afraid if credit card frauds. Those offering merchant account service have strict demands to their potential clients.

With the increase in online shopping, a great number of online merchant account providers have appeared in the market. Since there are so many merchant account providers, it is necessary to learn more information regarding merchant accounts, primarily everything concerning services, and fees they offer, so that your business goes on developing and your profit stays with you.

A great number of expenses are related to setting up and owning a merchant account. Different merchant service providers charge different fees. An application fee is usually charged by a provider to cover application processing costs. There are online merchant providers that renounce the fee if you open an account with them. Others do not even charge this fee. Most online merchant account providers charge an annual fee. You will have to pay this fee simply for having an account with them. The statement fee is equal to 25 dollar and should be paid monthly. It is paid to cover the account’s provider expenses. The discount rate is another type of fee that is deduced from each sale you make. Usually, the discount rate ranges from two to four percent. When opening an online merchant account, one will also have to deal with a number of other fees, as termination fee, which is levied on your account if you cancel your account before the contract is over. Moreover, there are even fees that are charged in case a customer requests a refund.

As you can see, there several hefty costs related to online merchant account and, unfortunately, they can lower your profits. Therefore, when choosing an online merchant account you should thoroughly assess fees offered by various account providers. The best way to do this is to estimate your merchant account costs by using your current sales data.

Express Application

Industry typeRatesIndustry typeRates
E-commercefrom 4%Nutra/Herbalsfrom 6.5%
Adultfrom 6%Forexfrom 4%
File sharing systemsfrom 10%Datingfrom 6%
Gambling from 4.5%Pharmacyfrom 8%
IT Supportfrom 10%Debt collectionfrom 7%
Travel MOTOfrom 6.5%E-cigaretesfrom 6.5%
Replica clothesfrom 8%Debt repairfrom 8%

Find out your rates for your site. Fill the bellow form and we will get back to you with decision. Free signup, no setup fees, offshore merchant account.

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