Learn How To Accept Payment Online From Your Customers
Whether you own thousands of dollars or just a few hundred-at
least two hundred, and you are providing a service, it may be a
good idea for you to check into accept payment online from your
customers. This is a type of merchant status and the first place
for you to look to achieve that status is the bank you do
business with. Just because you may have been doing business
with them for a long time doesn't mean they will automatically
give you merchant status though, and if they turn you down,
don't worry, you have other options. You can try a couple of
other banks or you can try other companies that specialize in
issuing accounts to online merchants. Do a Google search and
type in credit card processing, you will find many outfits
looking for businesses seeking merchant accounts. This will not
be a cheap endeavor either; start-up fees to accept payments
online can amount to around $200 and monthly processing fees of
around $20 dollars.
While searching for your merchant account so you can accept
payments online, you should also realize that you are going to
have to make your customers feel safe while doing business with
you online. Wherever you buy your credit card processing should
also supply you with a secure transaction environment, if they
don't find one some where else before you start accepting
payments online. Despite what you may have heard about accepting
payments online, credit card payments are still one of the
safest payment methods available online. There are many
fraud-prevention tools out there so check them out and get one
that will suit your needs. You can also protect yourself by
using the card validation code 2 {CVC2} and the card
verification value {CVV2} verification systems of MasterCard and
Visa, respectively. These verification services use the
three-digit codes printed on all MasterCard and Visa cards to
help you determine whether your customers are using legitimate
cards. Also, you may want to ask prospective processors about
the costs of storefront solutions that you should have to make
your website a success, things like shopping carts, Web hosting,
online payment gateways, virtual checks, customer tracking,
databases for your orders, and a way to calculate tax and
shipping charges. These are all the things you need for a
successful Web site business.
Shop around for a credit card processor that best suits your
needs. Talk to several different processors and don't be afraid
to ask questions. Find out about:
The discount rate: The percentage of each transaction paid to
the merchant account provider. If your monthly charges are less
than a certain volume, the processor may charge a higher
percentage. Just make sure you read all the fine print before
you start doing business with the services you need to run your
own business. You want your customers to feel secure in all
aspects of doing business with you, so they will keep buying
your products and you can accept payments online.