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An E-Commerce Primer
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Getting Started
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To Get Started Selling Your Products On The Internet You Will Typically Need Three Services In Addition To Your Domain Name And Your Hosting Account.
- A Merchant Account
- Online Credit Card Processor - Also Known As A Payment Gateway
- Online Storefront Software Or Shopping Cart
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| Merchant Accounts |
Before Being Able To Accept Credit card Transactions, A Merchant Will Need To Set Up An Account With A Merchant Bank. A Merchant Account Is An Industry Term For A Banking Relationship Where Your Company And A Bank Have Arranged To Accept Credit Card Payments. 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 Credit Card Payments.
Merchant Banks Typically Charge An Application Fee That Can Range From $100.00 To $350.00. Acceptance Is Based On The Businesses Credit History And The Owners Personal Credit History. Most Applicants Are Approved. If Your Credit Is Good Enough To Obtain A Visa Card Account, Your Company Will Most Likely Be Approved. There Will Also Be Monthly Fees Involved With Your Merchant Account. A Monthly Statement Fee Is Usually Charged. Statement Fees Vary From $10 to $15. There Will Be A Transaction Fee Charged Between $0.10 And $0.35. This Fee Will Be Charged On Every Transaction, Whether It Is A Sale, A Credit Or An Authorization. The Bank Also Takes A Percentage Of Every Sale, This Is Called The Discount Rate. Since You Will Not See The Person, See The Credit Card, Or Be Able To Obtain A Signature And Since The Rate Of Online Credit Card Fraud Is Fairly High, Merchant Banks Charge 2.0% to 3.5% Of Each Sale.
Dantor Can Help Your Company Obtain An Online Compatible Merchant Account. We Can Usually Negotiate A Lower Application Fee And Discount Rate Than You Would Get On Your Own. If You Obtain A Merchant Account On Your Own, Find Out Which Real Time Online Processing Agents The Account Is Compatible With, This Will Help You Select A Shopping Cart.
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| Merchant Banks |
A Few Merchant Bank That Provide Merchant Accounts To Online Retailers.
iPayment
First Data
Paymentech
Credit Card Network
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If You Have Any Questions Or Need Help Obtaining A Merchant Account Contact Commerce@Dantor.Com
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For
feedback and suggestions ....
Or Call Toll Free 1-877-230-7340 |
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