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PostHeaderIcon Why Do You Need To Set Up an Internet Merchant Account

Are you interested in starting your own business but do not have enough capital to do it? Well you can do that when you open a business online. The only thing you need now is to set up your merchant account.

There are two types of merchant accounts. The first is an internet merchant account. This is the one you need because this is the only way that customers will use to pay you for your products.

It accepts major credit cards so there shouldn’t be any problem when they input their 16 digit credit card number and other details into the computer.

The second type is the offshore account. The reason why it is called offshore is because your account is not inside the US but in a foreign country. You can still accept credit card payments and you will have access to your friends regardless of where you are in the world.

What are the differences between the two? It is easier to open an offshore account compared to a domestic account. This is because banks require you to be in business for at least 2 years and have a minimum of $5,000 when you open your account.

Given that your business is just starting out, you won’t have the money to do that. This hurdle brings us back to the offshore bank account where there are no minimum deposits required and approval takes only a week.

So far, we’ve uncovered some interesting facts about Merchant Account. You may decide that the following information is even more interesting.

You don’t have to be a millionaire to join this group. You should have the willingness to engage in business with customers all across the globe and be paid in US dollars. This is even if the client pays in their own currency because it will be converted.

Aside from accepting the major credit cards, an offshore merchant account may also honor an online check. So what do you have to give back in return for all of this? You will give your credit a small percentage of the profits.

But are the bank the only facilities that offer merchant accounts? The answer is no because there are private companies that also allow you to operate a website and accept major credit cards.

A very good example of this is Paypal. They don’t charge any set up or sign up fees and the only time they get paid is when you buy or sell an item.

The money that is added to your account can remain there or be transferred to your bank account so you can use it whichever way you wish.

Entrepreneurs who want to do business via the World Wide Web need to open a merchant account. There is no other way around that because this is the only way you can get paid.

How do you open a merchant account? You do this by looking for a reliable merchant account provider online and then following their instructions. Be ready to present any documentation that they may ask for so you don’t have to go back and forth just to submit them.

In time, the money will start coming in to your merchant account. The only thing you have to do now is make sure that you have a sufficient inventory to accommodate demand and new products to offer in the future.

This article’s coverage of the information is as complete as it can be today. But you should always leave open the possibility that future research could uncover new facts.

About the Author
About the Author By Ian Stephens, feel free to visit his top ranked Club site:resell rights / plr

PostHeaderIcon Where to Look for a Good Merchant Account Provider

Merchant account is the contract wherein the bank that aims to acquire extended line of credit to a merchant that accepts payment transactions through card of a certain card association or brand. Being familiar with merchant account and its provider can help credit card holders a lot in being educated about the financial transactions they make. Understanding how merchant account works and choosing the right merchant account provider is a must to ensure that there will be no financial hassles in your future transactions.

Qualities of a merchant account provider

There is a wider selection of merchant account providers today than before. So, you ensure that you are choosing a merchant account provider, you must always prioritize the immediate needs as to minor benefits. A good merchant account provider should have:

– an organized fee structure. It doesn’t necessarily mean that it has to offer low rates, it should at least manage well the monthly fees and other the transaction fees made by the client.

– a discount fee that will not exceed to 2.25% and $0.30 per transaction. Although this will depend on the type of credit cards available, you should keep in mind that the rates would be at that level.

– no monthly minimums. A good merchant account provider does not require monthly minimums because this will only lead to more miscellaneous fees for its clients.

– less than c $30 for monthly statement fees. Although most clients would agree that statement fees should come free, this is not possible because the bank itself spends for these fees. It is only fair to pay less than $30 for a statement to monitor your transactions monthly.

You may not consider everything you just read to be crucial information about Merchant Account. But don’t be surprised if you find yourself recalling and using this very information in the next few days.

– a turnaround time that is less than 70 hours. This is to ensure that there will be no delays between the time between the sale and the deposit of the proceeds in your bank account.

– a good bank reputation. This is seen in the length of operation hours, years in the industry, alternative options for payment processing in case of system failure and quality customer service and support.

Where to look for

There are so many merchant banks out there. To avoid confusion, exerting too much effort and spending so much time in looking for the right merchant account provider, experts say that the options should be limited to the individual’s own bank, business and trade associations, and reliable referrals.

Experts agree that the best merchant account providers are those that are coming from the own bank because it already has records of your business banking account. This is one option that offers utmost convenience because you don’t have to jump into another type of service that you are not familiar with.

Aside from getting the same quality of service as with your banking options, a merchant account provider coming from your own bank will also ensure that the turnover time?between your transaction and the day your money is deposited into your account?is at a minimum. Why? because your accounts are under the same financial entity.

If for some reason you don’t want to get the services of merchant account provider from your own bank, you can always rely on business and trade associations because most of the time, you can get discounted merchant processing rates since you are part of the circle. Lastly, you can also find good merchant account providers through referrals coming from your colleagues, co-workers and maybe from your competitors.

About the Author
By Chris Meagher, feel free to visit his top ranked Online Dating Information site: Find Your Partner Online

PostHeaderIcon You Need to Open an Online Merchant Account

Do you ever feel like you know just enough about Merchant Account to be dangerous? Let’s see if we can fill in some of the gaps with the latest info from Merchant Account experts.

A lot of people are buying and selling products online. The advantage of doing business here is the fact that you don’t have to pay rent and it doesn’t cost a lot of money to make a site. So people can acquire what you have, you need to open an online merchant account.

You won’t have a hard time finding a provider where you can open an online merchant account. The question is, how do you choose the right one for your business? For that, you have to consider a few things.

The electronic commerce merchant should be able to accept purchases 24/7 automatically and ensure that the customer’s personal information is secure.

Some providers charge a set up fee and then deduct a certain amount per transaction. You should compare one with the other before you make your decision.

Problems can happen when a customer makes a purchase and you have to your best to remedy the situation. This means you have to be sure that the provider you choose has online technical support that can handle whatever is the problem.

If after careful review you haven’t found a provider for you to have an online merchant account, perhaps you should consider getting a third party processing company instead.

You can easily find these when you type in this keyword in the web. From there, you just have to review each one similar to what you did when you were on the lookout for an online merchant.

You may not consider everything you just read to be crucial information about Merchant Account. But don’t be surprised if you find yourself recalling and using this very information in the next few days.

Just be sure that aside from choosing a third party processor that is secure, you will be able to use the information collected to introduce new products if there are items added in the future.

This will also help you analyze the trends in the market by telling you what products are saleable.

Electronic commerce has been around for more than a decade and the number of people who decide to do business online is still going up. While some people buy items from auctions or from other merchants, B2B or business to business portals are also making their mark by providing buyers and sellers a venue where goods can be sold wholesale.

Do they also open a merchant account? In some cases yet but most of the time, these companies prefer bank to bank transfers.

Is this one reason why some businesses find other ways to accept payments? It is possible because a lot of banks which encourage you to open an online merchant account with them require you to open a separate account for your online business.

What this means is paying extra monthly fees while they get a certain percentage for every transaction made.

Some banks even require you to use their own payment gateway or online terminal and that is an additional charge which could cost you thousands of dollars.

So is it worth it? Despite the cons, the answer is still yes because you need a merchant account to accept the payments for whatever item the customer purchased from you through the web.

If you are still skeptic and are well aware that you can accept payment through other means, keep in mind that and merchant account is still the safest and most secure way for both you and your customer.

About the Author
By Anders Eriksson, feel free to visit his soon to be top ranked Perpetual20 training site: Perpetual 20

PostHeaderIcon What is a Merchant Account

If you want to accept credit cards for your business, you will need to get a merchant account. Basically, this is a contract between you and the bank in order for you to be given a line of credit. Without it, your customers will have to pay you through other means.

The merchant account is more important when you open an online business. This is because customers can only see your products using their web browser and if they want to order, this is the one of the means of paying for it.

The problem with having a merchant account online is the fact that it is very expensive when you are just starting out which also includes filling up various forms and a background check.

To skip this, a lot of entrepreneurs decide to get a third party payment processor to accept credit card payments. A good example of this is Paypal which charges a certain percentage for every sale made.

Another provider is 2checkout.com. The difference with them is that they charge you a $49 set up fee and their rate is $.45 cents plus 5.5% per transaction.

You may also consider WorldPay which is useful for entrepreneurs operating outside the US. The downside is that you have to pay a monthly fee of about $50 per month and pay a one time set up fee of $400. The transaction fees are also higher because their rate is $.40 cents plus 3.25% per transaction.

If you don’t have accurate details regarding Merchant Account, then you might make a bad choice on the subject. Don’t let that happen: keep reading.

There are a few third party processors that are able to process your payments digitally.

You have clickbank that charges you a dollar plus 7.5% per transaction. You have to pay a one time registration fee of about $49.95. Being a member, one of the perks is earning commission from them when you decide to use of their affiliate programs to sell your products.

What makes Digibuy stand out from the rest is the fact that their business focuses mainly on electronic commerce. At $3 plus 13$ per transaction, it is no wonder that only a few can afford it.

So you don’t have a hard time setting the system or encountering any problems, majority of the third party processors have customer support on hand which you can call 24/7. While many of those mentioned have sign up fees, the most important factor in choosing the right provider is knowing which of these is the most secure.

The advantage of a third party processor compared to a merchant account is the fact that you can open an account within minutes instead of having to wait several days before your application is approved. Once a transaction has been made, the provider you have selected gets a small percentage while the rest is deposited into your bank account.

In the case of Paypal, you are able to use the money in your account to also buy items from the web. This is very convenient because the transaction will no longer reflect in your credit card statement.

Merchant accounts are needed when you open a store or restaurant. Because banks have realized that a certain percentage of their sales are taken by third party processors, they are now introducing their own payment portals. Are the rates higher or lower? That is something you have to ask them because this is one of the things you have to consider when you decide to open a business establishment.

About the Author
By Avi Hu, feel free to visit his top ranked Canvas Printing site: Canvas Printing, Printing on Canvas,Canvas Prints,Print on Canvas

PostHeaderIcon The Importance of Merchant Account to Credit Cards

Today, many people rely on their finances through the credit card. This is because it makes things easier for them. Imagine? You can purchase something without the cash at hand? And you don’t have to worry about your safety when you bring lots of money? These advantages can be quiet overwhelming that’s why people no longer pay attention to small things like the merchant account.

When looking for a merchant account provider, one must always consider its:

– technical support options and customer service practices. This is very important because this will give you an idea if you can get advantages as early as possible. Good customer services practices is very important when choosing a merchant account provider because this will determine the quality of service that you can get when emergency arises.

You can gauge if the merchant account provider has good customer service if the persons involved pay utmost attention to what the customers or clients have to say or inquire about, if it has a toll free customer service number, the length and coverage of the customer service hours and can give immediate and initial answer to questions that are commonly asked.

– the structure of fees. When choosing merchant account provider, one of the first things to consider is the fees. To determine if the merchant account provider is right for you, check if it offers reasonably low fees. When choosing a merchant account provider, don’t get overwhelmed by the super low fees that it offers because more often that not, they don’t offer good services and they charge for hidden fees. It is better to choose a merchant account provider that offers an average rate as compared to those that offer unbelievably low charges because in the end, you will only be forced to pay for something that you did not expect.

You may not consider everything you just read to be crucial information about Merchant Account. But don’t be surprised if you find yourself recalling and using this very information in the next few days.

– choose a merchant account provider that will suit your needs. Knowing your personal needs will help you decide which merchant account provider will be the best for you. For those who will be needing credit cards for international use, it is best to apply for those that can help you do transactions even you are out of the country. Make sure that the merchant account provider will see to it that you won’t have financial hassles along the way.

– the merchant account should provide a reserve issue. This refers to the fee that the merchant account provider?through a processor?will ensure that there will be an insurance if ever there will be “charge backs” that comes along the way during any specific transaction. To avoid encountering high risk financial hassles, you must choose a merchant account provider that don’t have problems with this.

The right credit card

To most people, credit cards are considered as a blessing because they can be spared to so many hassles in paying transactions along the way. But, people who don’t know how to choose credit cards and its merchant account provider properly can have problems in the long run. Aside from choosing the right merchant account provider, choosing the right credit card will also veer you from debt or other financial problems.

Aside from familiarizing yourself with merchant account providers in choosing credit cards, make sure its interest rates, credit card fees, transaction fees, and other charges, length of ?grace period,? other additional benefits, the credit limit, and all the necessary and additional terms you need to ensure that you won’t be encountering any problems when it comes to your finances.

I hope that reading the above information was both enjoyable and educational for you. Your learning process should be ongoing–the more you understand about any subject, the more you will be able to share with others.

About the Author
By Sylvia Richards, please visit the beautiful village of Haven, an online spiritual community spiritual, psychic, healing

PostHeaderIcon ABC?s of ECommerce Merchant Account

What are Merchant Accounts?

The process of buying products through the internet has become so convenient that we become unaware that there is actually a complex system of commerce that goes with it. With the birth of the credit card, business owners have realized its potential on making their products more accessible to their target consumers. This is when merchant account providers come into the picture. Merchant account is way for business owners to accept payments through credit cards.

What are Payment Gateways?

Aside from the merchant account provider, there is also a middle party that oversees how the actual exchange of payment information takes place. It is the online version of a cash register. Upon payment, the consumer enters encrypted information into the merchant’s web browser. The payment gateway then sends another encrypted information from the merchant account provider then into its acquiring back and lastly into the issuing bank. The seemingly complicated process of exchanging encrypted information between the different parties takes only around 3 seconds.

What should business owners look for in an eCommerce merchant account provider?

Reputation, integrity and compliance are some of the important characteristics that a merchant account provider should have. Business owners may study the history of the company by looking through the company’s financial statements, tax accounts, credit returns and its Dunn and Bradstreet credit file. The merchant account provider should also be properly registered to the Payment Card Industry (PCI) Data Security Standards (DSS) and is insured to the Federal Deposit Insurance Corporation (FDIC). Business owners may also inquire with the Better Business Bureau (BBB) to look for any complaints, if any, that have been filed against the merchant account provider.

If you base what you do on inaccurate information, you might be unpleasantly surprised by the consequences. Make sure you get the whole Merchant Account story from informed sources.

The merchant account provider must also offer a reliable technical support. The technical support must be available for 24-hours through the net or the telephone. Most preferably, there is a qualified technician that would personally respond to any problems associated with either the software or hardware. A few seconds lost through a technical problem would also mean loss of profit.

Business owners should also look into the cost that the merchant account requires from them. There are additional costs to consider other than the typical costs that goes with merchant accounts like interchange fees, transaction fees and monthly fees. There are hosting fees, website maintenance and design costs and website start up fees. Most of the time, the less you pay for these additional costs, the less is the quality you get and the poorer service you give to your costumers.

What are the risks associated?

The risks associated with an eCommerce merchant account provider are basically the same as with the traditional merchant account provider. Fraud is the most common scam in online transactions. Hackers may enter into the system and transfer credits into their own accounts. They may also steal the customers’ personal information from the merchant account system and use it for other fraudulent transactions.

Other risks may also be accounted to the part of the costumers. They may falsely claim that the product was not properly shipped, that it was not accurately described as it was on the website or that they may not actually have received. The customer may also complain of unfair or incorrect billing.

What are some of the best eCommerce merchant account providers?

Charge.com easily tops most of the reviews of merchant account providers. Some other highly praised merchant account providers are Merchant Account Express, CyberBit and Electronic Transfer.

As your knowledge about Merchant Account continues to grow, you will begin to see how Merchant Account fits into the overall scheme of things. Knowing how something relates to the rest of the world is important too.

About the Author
By John Kay, you can check out cool websites recommended by him at Cool-websites.org

PostHeaderIcon Choosing a Merchant Account Provider

In terms of banking, “merchant account” refers to a contract wherein the bank the bank that aims to acquire prolonged line of credit to a merchant that accepts payment transactions through card of a certain card association or brand. Merchant account is a very important factor in credit card transactions because the absence of which, nobody can purchase anything because the payments?regardless of the credit card brand?can’t be accepted.

Making the right decision when it comes to of merchant account providers

These days, there is a wider selection of merchant account providers. Since there is competition with other providers, it can be hard for a person to choose a merchant account provider since the different providers offer options that can be quite attractive. For some people, one option offered by a specific merchant account provider can be overwhelming since others offer basically the same value but with greater advantages.

In choosing a merchant account provider, people must always consider their utmost and immediate needs. As much as possible, they should not entertain other benefits that would not help them in the long run. Here are the things that people should look for in a merchant account provider:

The best time to learn about Merchant Account is before you’re in the thick of things. Wise readers will keep reading to earn some valuable Merchant Account experience while it’s still free.

1. The fee structure. All merchant account banks have their own fee structures. This fee structure generally involves the fees per month as well as the transaction fees. To attract more clients, many merchant banks offer comparatively lower fees but this does not mean that they are offering more benefits and they are at par when it comes to other merchant account providers. If you are on the process of choosing a merchant account provider, it is always best to ask for a “sample contract” so you can compare the rates and terms offered by other different merchant banks.

Through this, you can come up with your priority services and you can enjoy the benefits that you deserve. When it comes to discount fees, bear in mind that these should not exceed to 2.25% and $0.30 in each transaction and they vary depending on the types of credit cards available. You should also look for a merchant account provider that does not have monthly minimums and only charge not more than $25 for monthly statement fees.

2. The turnaround time. This is a very important factor to consider because this will give veer you away from financial hassles caused by time delay. When it comes to the deposits to your account, the time between a transaction such as sale and the deposit of the proceeds in your bank account is should not be more than 70 hours. Financial experts say that turnaround time is the best option especially if the merchant account comes from your own business bank.

3. The customer service. When applying for a merchant account, the ability of the provider to ensure your safety and credentials should be at hand. Good merchant account provider will ask for the domain registered to the account holder, for the “SSL” or the security, copy of the homepage, and at least two product pages.

4. The favorable terms. This is very important because it can give you more advantages as time goes by. One of the favorable terms includes the length of contract so you won’t be locked in unfavorable terms later on. And the bank reputation which include the operation hours, the tenure or the length of time in the industry or in the business, alternative options for payment processing when there is a system failure of course, its customer service and support.

There’s no doubt that the topic of Merchant Account can be fascinating. If you still have unanswered questions about Merchant Account, you may find what you’re looking for in the next article.

About the Author
By, Nick Solomon, feel free to visit this top ranked Exercises to lose weight guide. Site:Exercises to lose weight

PostHeaderIcon How Merchant Account Works

When you think about Merchant Account, what do you think of first? Which aspects of Merchant Account are important, which are essential, and which ones can you take or leave? You be the judge.

Merchant accounts are similar to bank accounts. With merchant account, businesses can accept payments made through credit cards and debit cards. There are two kinds of merchant accounts: over the counter merchant accounts and money order merchant accounts.

Some people think that getting an approval when applying for a merchant account is difficult. Accepting credit card payments is nor a costly, since there willl only be a small amount deducted when processing a credit card or a transaction. Normally, merchant account application can be processed within four hours. Some business owners, based on their experience, advise that if the processing of the application form last for more than two weeks, then it would be better to change to a new service provider.

Remember, that there are banks that requires the business owners who would like to have the service, fulfill a number of obligations before opening the account. Some merchant service providers require that applicants have a checking account. Sometimes, business licenses and certificates are also checked.

Additional requirements can also be demanded and checked by the account supplier. For example, for corporations, the federal tax identification number is required. While for a sole proprietor business owner, social security number is required.

If ever the merchant or business owner claimed to be bankrupt, the claim must be at least 90 days old before a merchant will be accepted for some merchant accounts. Also, all of the merchants or business owners must at least 18 years of age.

So far, we’ve uncovered some interesting facts about Merchant Account. You may decide that the following information is even more interesting.

First, the payment is received by the merchant through the customers’ card. This can be done with physical swipe process at the credit card terminal. The customer can also enter the credit card number when finishing or making a transaction through online payment software.

The electric request goes to a network. There is processing network set up to handle these requests. This network handles the business of requesting funds from the customers’ bank or credit card and them letting the merchant know that it is approved.

When the bank has already received the decision about the funds from the managements, it sends approval through the network. An authorization code is electronically issued and passed through the network until it reaches your computer or the credit card terminal. If there is something wrong, you will be notified that the transaction has been declined. Amazingly, this whole process, thought it seems long, only takes a few seconds.

Customer receipts are issued when they already have the decision about the funds. Approved, the merchant’s terminal will print the receipt, or an electronic receipt will appear online for the customer to print out him or herself, if the transaction is completed via the Internet.

The transaction for the day is then settled and called the batch. This is something else that requires a request made electronically over the processing network. All the authorization codes are checked against the purchases and other transactions. Then the transactions are sent to the credit card companies and to the banks for final settlement before the cardholders’ accounts are officially debited.

Batch funds are deposited into your acc ount. After the settlement, the funds will be directed to your account. However, this is a process that takes two or three days.

A good merchant account provider will bring together the elements needed to obtain merchant status. This allows the business to efficiently process the payments made by the customer and provide the customer the best customer experience.

About the Author
By Sylvia Richards, please visit the beautiful village of Haven, an online spiritual community spiritual, psychic, healing

PostHeaderIcon Internet Merchant Account

Online businesses are part of the ever changing and improving market. But how can online businesses accept payments when transactions and products are online displayed online. Accepting payments through the business’s website can be done with the help of an internet merchant account and provider.

To accept online payments by a credit card, the business owner should have an Internet merchant account with an acquiring institution. There are three steps between the customer paying for the purchase and the business owner’s bank account:

The first step of the first layer is called the payment gateway. The payment gateway provides the code that will transmit the customer’s order to and from the internet merchant account provider. The payment gateway enables the business owner to accept the customer billing information and the necessary validation steps that must be followed.

The payment gateway is the means of getting the secured transactions to the merchant provider for an authorization, think of it as a Point of Sale terminal for the internet. The payment gateway is provided and setup by the internet merchant account provider.

The payment gateway can also be linked to a secured shopping cart for e-commerce business owners. The shopping cart is a secured portal that allows the customers to enter in their information, credit card number and then send the transaction to the payment gateway. From here the transaction goes to the merchant account provider and then a confirmation email is sent to the business owner informing them that a customer has made a purchase.

Sometimes the most important aspects of a subject are not immediately obvious. Keep reading to get the complete picture.

Then the merchant account provider will enable you to accept the payments from the customers. A merchant account is an account with a financial institution or bank that enables you to accept credit card payments. There are some banks who still do not offer internet merchant account capability. There are some financial institutions and banks that are not providing online payments because online transactions can be prone to credit card fraud.

Online payment are classified as car-not-present transactions or CNP, because it is impossible to check the card and the cardholder. If a transaction proves to fraudulent, the money will be reclaimed from the business owner’s bank account. This fraudulent event is called the chargeback. Even if a a cardholder-not-presents is authorized by the cardholder’s bank, this does not necessary guarantee payment.

To protect online customers, there are SSL Certificates that can be used too create a secure channel to transmit credit card information from the business website to the internet merchant account processing network, receive the results and post them back to the business website.

The third step is back to the website. Regardless of the internet merchant service provider or payment gateway, the website still needs to integrate with the service providers. There are detailed instructions given by the service providers.

There are some requirements needed whenever a business would like to have an internet merchant account. The business owner must have checking account with a bank. If the person, in case, do not have a checking account with any bank, there are acquiring institutions that can set up the account to be used in processing the payments.

Making your business process credit card payments over the internet is one of the fastest growing transactions today. There are many incentives by getting an internet merchant account provider. It is hassle free, comprehensive and can increase sales and profits that you get from the business.

So now you know a little bit about Merchant Account. Even if you don’t know everything, you’ve done something worthwhile: you’ve expanded your knowledge.

About the Author
Helena Zwarts, a successful small business owner, share ideas, on her site Business Gateway, with like minded small business entrepreneurs

PostHeaderIcon Knowing the Different Types Merchant Account

Current info about Merchant Account is not always the easiest thing to locate. Fortunately, this report includes the latest Merchant Account info available.

Basically, there are three different types of merchant account available for each different type of client or the nature of the business. These types of merchant accounts include the “retail” type, the “MOTO” or mail order – telephone order, type and the “Internet” type.

At first, it is not easy to identify what are the differences with these types. But, when compared to closely to each other, one can clearly see what sets each other apart from one another?that would be the transaction fees that are charged and of course, the set of rules that are associated when one uses the account.

Which type is the best?

Experts say that because of the differences in nature, more and more businesses opt to have more than one type of merchant account to cater specifically to the type of account or nature of the business they are handling.

If your Merchant Account facts are out-of-date, how will that affect your actions and decisions? Make certain you don’t let important Merchant Account information slip by you.

1. The retail merchant accounts. This is one of the most popular merchant account types that most businesses use because it offers comparatively lower fees without really compromising the quality of service they give. In fact, majority of retail account providers is even more strict because they charge less for a service that is also of high standard.

Experts say that since retail merchant accounts are known to have a high percentage of credit card sales ranging from 60 to 70 percent?through the use of the card that is present as well as the number of times that the card has been swiped to the physical credit card terminal?they set higher standards to their clients. Usually, businesses that avail of this type of merchant account are those that are closely associated with restaurant, hotel, and grocery store establishments.

2. The “MOTO” merchant accounts. The mail order -telephone order, on the other hand, refers to the accounts that are usually processed using relatively high transaction rates or chargers when compared to the other type, which is retail account. This is because the credit cards themselves are not really being physically swiped into terminals which require more effort to transact. Originally, the MOTO accounts came about to be able to answer the credit card processing needs that are usually created by mail order companies?those that receive their sales and other financial transactions using the mail or the telephone lines.

Experts say that those merchants using this type of merchant account undergoes a credit card payment process when they enter the information of the credit card straight into the terminal. This type of merchant account charges higher rates since it uses physical equipment such the keypad, the terminal?usually a personal compute or laptop?which has a software that has been installed on it, or through the use of the ‘virtual’ terminal using a more high tech communication such as the web browser.

3. The Internet merchant accounts. This is quite similar to the cost, the set of rules, and the means of using the “MOTO” only that this is more organized and direct since a the transactions here are dealt using a virtual terminal that serves as a gateway to the payment processes and services being made. This type of merchant account uses a custom-designed program such as the “HTML” form or using a “shopping cart” form of payments and other related sets of applications.

About the Author
By Anders Eriksson, feel free to visit his soon to be top ranked Perpetual20 training site: Perpetual 20