What is a merchant account? How do I get one?
A merchant account enables you to accept credit cards as payment for the purchase of goods and services. There are different types of merchant accounts: a traditional brick and mortar store requires a retail merchant account, a Web store that accepts credit cards, however, requires a specialized type of merchant account known as an Internet-ready merchant account. An Internet-ready merchant account enables you to handle Internet transactions in “real time” without any human intervention. Because the risk of credit card fraud is greater when you are accepting credit cards over the Internet, these specialized merchant accounts also provide additional checks that can significantly reduce the chance of credit card fraud. Once the transactions are processed, the merchant account provider transfers the funds received from the credit card transactions from your merchant account to your bank account.
A merchant account is a type of bank account that allows businesses to accept payments by payment cards, typically debit or credit cards. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. In some cases a payment processor, independent sales organization (ISO), or member service provider (MSP) is also a party to the merchant agreement. Whether a merchant enters into a merchant agreement directly with an acquiring bank or through an aggregator such as PayPal, the agreement contractually binds the merchant to obey the operating regulations established by the card associations. Setting up a merchant account usually involves the bank understanding your business and working with a third-party processor to arrange a mechanism for accepting payments. Merchant accounts are usually required for accepting customer credit card and electronic payments through an electronic commerce Web site. Features of merchant account :
1.Boost Web sales and cash flow .Earnings are deposited into your bank account typically within 24-72 hours. Make shopping convenient – accept credit, debit (ACH payments), and gift cards from Visa®, MasterCard®, Discover®, and AMEX®.
2.Cut down on paperwork .Easily review account details with online reports you can access anywhere, anytime. You and your customer receive email alerts when orders are placed and approved.
3.Reduce your risk .Advanced fraud detection measures minimize chargebacks and inventory loss.Address Verification Service combats fraud by comparing the shopper’s billing address with the address on file with the card-issuing bank.
You can sign up for an merchant account service from providers like TheWebPole.com their plan starts at $74.99 and varies depending upon discount rate ,per-transaction fee.Merchant account service from above provider handels secure credit card processing, check for potential fraud, and get your funds deposited quickly. You enjoy more sales, less risk, and better cash flow.
A merchant account enables you to accept credit cards as payment for the purchase of goods and services. There are different types of merchant accounts. For example, if you have a traditional “brick and mortar” store, you can get a retail merchant account. If you want to accept credit cards on your Web site, however, you need a specialise type of merchant account known as an “Internet-ready” merchant account.
A merchant account enables you to accept credit cards as payment for the purchase of goods and services. There are different types of merchant accounts. For example, if you have a traditional brick and mortar store, you can get a retail merchant account. If you want to accept credit cards on your Web site, however, you need a specialized type of merchant account known as an Internet-ready merchant account. Internet-ready merchant accounts enable you to handle Internet transactions in “real time” without any human intervention. Because the risk of credit card fraud is greater when you are accepting credit cards over the Internet, these specialized merchant accounts also provide additional checks that can significantly reduce the chance of credit card fraud. Once the transactions are processed, the merchant account provider transfers the funds received from the credit card transactions from your merchant account to your bank account. A number of companies offer Internet-ready merchant ac
A merchant account enables you to accept credit cards as payment for the purchase of goods and services. There are different types of merchant accounts. For example, if you have a traditional ‘brick and mortar’ store, you can get a retail merchant account. If you want to accept credit cards on your Web site, however, you need a specialized type of merchant account known as an ‘Internet-ready’ merchant account. Internet-ready merchant accounts enable you to handle Internet transactions in “real time” without any human intervention. Because the risk of credit card fraud is greater when you are accepting credit cards over the Internet, these specialized merchant accounts also provide additional checks that can significantly reduce the chance of credit card fraud. Once the transactions are processed, the merchant account provider transfers the funds received from the credit card transactions from your merchant account to your bank account. A number of companies offer Internet-ready merchan
