Five Easy Steps to Open an Online Merchant Account

Do you have a web-based business but have not opened your online merchant account yet? If your answer is “yes”, then you are losing a number of advantages associated with owning an online merchant account. Just think, over 85% of all Internet transactions are made by credit cards. Is not it a good motivation reason why you should apply for a merchant account today?

If you have a little sales history, want to develop your online business, as well as increase sales and revenue, you should consider opening an online merchant account. If you are novice in an e-commerce business, it is advisable to open a merchant account with an ISO, which acts as mediator between you and the bank.

Below are five simple steps to opening an online merchant account:

1. Find the perfect match for you.

When choosing an online merchant account provider it is necessary to find the one that will easily adjust to the type and size of your business. The competition on this market is great, thus one should be very careful and selective, while choosing the right provider. Be sure to check whether the services it offers are exactly what you are looking for.

When applying for an online merchant account you will need to provide many details concerning your business, thus it is obligatory to be completely sure that the account provider you have chosen is reliable one and meets the requirements of your business.

Most of online merchant account providers have inviting and visually pleasing websites. On these sites, you will find all information regarding services and charges they offer. If you have additional question you can always use the customer support service.

2. Giving personal information

After choosing the perfect account for your web-based business, you will have to give the provider basic personal information as:

1. Your name and company name
2. Your email address
3. Your business name and telephone number

An email address should be active and used only for business purposes. This will give you an opportunity to handle credit card processing more easily.

3. Creating a password.

To create a password, use letters or words you will easily remember and never share this information with other people. When creating a password you will also need to choose a username. These letter and word combinations are very important, as they give you an access to your merchant account getaway – the land of your earning. It also lets you put money on your business account. So make sure you always remember your username and password.

4. More numbers…

After confirming the password, you might be asked to provide your tax identification number     and social security number, but only if you are incorporated.

5.  Final step.

This step is the most important in the whole set up process, as requires providing your online merchant account provider with some very important details. You will have to give your merchant checking accounts routine figure. Several online merchant account providers will deposit a certain amount of money for safekeeping and you will have to enter this amount to initiate your account and complete the business dealing.

That is all you need to do to get your own online merchant account. By completing these five steps, you will open the door into the online world of merchant accounting and thus will get an access to your merchant account getaway and take all advantages of services offered by ISO.