Internet Merchant
Account
If you operate a business via
the Internet then purchasing an Internet merchant account will
need to be the route to take. Setup and purchase costs
have drastically fallen over the years. You can expect to
pay $0-$150, on a real-time processing solution for your
Internet business. Processing rates and fees for
an Internet merchant account have decreased as well.
Discount rates range from 2.15% to 2.59%. And transaction
fees range from $0.25 to $0.35 cents on average. Many places charge a monthly gateway fee as well; This usually ranges
from $10-$20/month. However, if you search hard enough
you'll find a company who doesn't charge a lot of the typical
monthly fees you see out there.
Why are processing rates higher
for an Internet merchant account? It all goes back to the
fact that the customer's credit card is not actually swiped
through a terminal, like in retail storefronts. Since this
is the case, it is believed that there is a higher risk of
fraud, hence the reason for higher processing rates.
With an Internet merchant
account you'll want to make sure that your order form uses the
latest in SSL (Secure Socket Layer), or commonly called a Secure
Certificate. These can be purchased from Thawte,
GeoTrust
or Comodo
for a little over
$100/year. They are essential if you are serious about
making sales online. No one wants to put their credit card
information on an insecure order form.
Some internal links that might
be of interest that focuses on an Internet merchant account:
If you're interested in a
personal recommendation, View
our page on the NexCommerce Online Merchant Account Solution
for an Internet merchant account for your
business.
- Back to the
merchant account knowledge base - |
