Archive for May 28, 2013

Which Internet Merchant Account

Written by Channel 11 Houston on May 28th, 2013. Posted in Credit card merchant account, Level 3 processing, Payment processing companies

Payment processing companies

Internet merchant accounts are the unsung heroes of ecommerce sites worldwide. The task of selecting an appropriate online credit card processing company and getting your credit card merchant account does not have to be painful. Some simple guidelines can help you choose the best merchant processing and merchant account services for your business.

Depending on the situation, you can make your online store more user friendly if you consider adding payment types or securely storing previous payment information. These features or flexibility to accept mobile payments can influence your decision as to which internet merchant accounts you consider. Twelve percent of shoppers used a mobile device in 2011, with more than half of those customers converting to purchasers than in the previous year. Some estimates predict that U.S. online shoppers will go from 2010 numbers of 137 million to 175 million in 2016. Regardless of how they log on, that represents enormous grow in purchasing and businesses need to establish internet merchant accounts.

You should document the nuances about your business and transactions prior to making the final selection from internet merchant accounts. The industry uses multiple level of processing, that ultimately determine your rates. Level 3 transactions are more secure since they require so much detail such as item description, item quantity, item discount identifier, ship from postal code, and various other data. Generally your transactions will not require this level of detail, but having the data available can make rate negotiation simpler.

While some businesses choose to use their existing banks for internet merchant accounts, there are alternatives that each offer varying services. Make sure you read various reviews and comments to determine any issues or pitfalls to avoid in setting up your internet merchant accounts. You do not want to set up everything and start accepting transactions only to have your account frozen based on incomplete information. Whatever solution you choose for internet merchant accounts, do your preliminary research to insure optimum results for your business and a good experience for your customers.