Online Credit Card Processing

Did you know that when you accept credit cards online, you can expect your sales to increase by an astounding 50 to 400%? You simply can't compete if you don't accept credit cards. With our free online application, you can start accepting credit cards on your web site in less than 24 hours! In addition to accepting credit cards on your web site in real-time, you will also receive our simple-to-use, web-based credit card processing terminal so you can process transactions manually. With our versatile ecommerce software, you have a complete solution.
When Western Union first gave charge cards to their best customers in 1914, no one would have guessed that over $2.56 trillion would be charged in the U.S. alone in 2008. As ubiquitous as credit cards are, their use is still growing. The exploding world of online commerce is playing a part, as is the increasing usage of credit cards in business-to-business transactions. While some businesses could not open their doors without a credit card processing service, it is more of a question for others.

The world of merchant services can be confusing, especially for small businesses who have never accepted credit cards before. This buying guide is designed to help you choose a merchant account provider for your company, as well as avoid some common bait-and-switch tactics that can cost you much more than you expect.

The world of merchant services can be confusing, especially for small businesses who have never accepted credit cards before. This BuyerZone Credit Card Processing Buyer's Guide can help. You'll learn:

• how to choose a merchant account provider for your company
• some common bait-and-switch tactics to avoid
• what you can expect to pay
• how to negotiate with providers

Once you have all the information you need, use our free request for credit card processing price quotes service to connect with multiple merchant services providers.
If your company is successfully invoicing your customers, you may be put off by the costs of merchant services, which take a percentage of all your sales. However, avoiding potential loss from non-payment can quickly make up for the expense. Plus, you will no longer have to spend staff time issuing late invoice notices or wait 30, 60 or even 90 days for invoices to be paid.

Accepting credit cards allows funds to be transferred to your bank account in less than a week. This can be a welcome relief for businesses that experience a tight cash flow.

If you are selling to consumers, merchant services will allow you to expand your customer base and provide a more convenient method of payment than cash or checks. And if you are interested in selling over the Internet, accepting credit card processing is a must.

It's possible to accept credit cards over the Internet without establishing your own merchant account. Third party merchants like PayPal or cc:Bill can accept credit cards on your behalf, without requiring a credit check, but have several serious disadvantages for businesses.

They typically batch your money into regularly scheduled payments, negating the advantage of quick turnaround. Their rates tend to be higher – significantly higher, in some cases. And, they may not accept all types of transactions, potentially resulting in your legitimate transactions being frozen. Generally, they make your business seem like a small-time operation. They're really only appropriate if you process one or two transactions a month.

Bank
The bank you use for your business finances should be the first place you contact. Banks can be the easiest source to turn to for credit card services; many offer service packages for businesses that include merchant services. Most banks do not process credit card transactions themselves, though. Instead, they outsource the work to a third party credit card processor. It can be tough to get approved from this channel, however. Banks are likely to scrutinize your business more closely before deciding whether or not to accept your application.

Third Party Processor
This type of credit card processor requires no merchant account. Third party processors dedicate themselves to handling credit card processing. As such, they take care of different aspects of the transaction process such as authorization, billing, reporting, and settlement.

Independent Sales Organization
An independent sales organization (ISO) is essentially a registered credit card merchant broker who represents one or more third party processors. They set up and service credit card merchants, but do not do the actual processing. ISOs are less selective than banks, but that comes at a somewhat higher price.

They are also not strictly regulated the way banks are, so there's a wide range of ISOs out there, from reputable, established companies that provide good customer to support, to shady one-man operations that use questionable "sign up sheets" in place of contracts. Some of these sign up sheets even hold you responsible for terms and conditions not listed in the document! Be particularly vigilant when evaluating potential suppliers and make sure you get the full contract.

Financial Service Provider
MasterCard and Visa require you to establish a merchant account through an intermediary. However American Express and Discover give you the option of applying directly to them.

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