Merchant Account

Payment Solutions for your business

WEB Estore offer a comprehensive line of payment solutions for your business – credit card acceptance, debit cards, and check acceptance – for all types of businesses including retail storefronts, restaurants, hotels, service companies, wireless merchants and mail, telephone or Internet order businesses.

In order to accept credit card payments, you are required to apply for a merchant account and online payment gateway. If you choose to use AuthorizeNet, one of the largest merchant account provider, you can bi-pass much of the red tape and work with one company for your merchant account and credit card payment processing needs.

There are several merchant account terms to familiarize yourself with:

Bank

A bank or financial institution is needed to set up a Visa or MasterCard merchant accounts. Banks provide this service in exchange for processing fees. Assuming that you have decent credit, setting up this merchant services account is easy. We’ve partnered with Wells Fargo to fulfill this need.
Merchant Account Provider (Accept Credit Cards)

There are many many merchant card services companies on the Internet that are willing to help you set up a merchant account- for a fee. In Industry terms, these companies are called merchant account providers or Independent Sales Organizations. Make sure you research these companies before you pay for their e-commerce certified merchant services. Brokers namely set you up with a bank; they don’t play an integral part in the operation of your credit card processing and online transactions. They make money by either an upfront fee, an application fee, or a per transaction fee. Their main goal is to place you with the bank that is suitable for someone with your credit history and that is experienced with Internet transactions.

Credit Card Processing Clearinghouse

When you have chosen a bank or a broker you will find that they usually “contract out” processing the credit card processing / transactions to a clearinghouse. When your website finalizes the credit card payment process in your shopping cart or online store, the Transaction Processing Clearinghouse is the organization that authorizes and validates the card (making sure the number matches the card and that sufficient funds are available).

Gateway

The final piece to setting up a merchant account to accept online payment is the gateway that connects you to the transaction clearinghouse. There are three common gateways:

Credit Card CardSwipe Machines

The machinery next to nearly every checkout register in the country. After the card is swiped, an authorization code displays, and is usually printed on a credit card transaction slip. The authorization comes from the clearinghouse that the store’s bank contracts with, and it effectively assures valid payment to the merchant when the customer signs on the dotted line. This method is not needed for pure-play dot-com businesses.

Desktop Software

For e-businesses, desktop software can be used as the transaction gateway. Once you receive the credit card number via phone, mail, or email… the merchant manually enters the credit card numbers and payment amounts into the computer software, and transmits the list over the Internet to the clearinghouse designated by the bank. In a few moments, the clearinghouse responds with a list of good card and bad cards to allow the merchant to proceed as necessary. This software solution works better than the cardswipe machine, but may not work for large volume stores. It also requires re-keying data from each order into your computer, which can lead to user errors and can be time consuming.

Real-Time Web Gateways

There are several payment gateways to the transaction clearinghouse that can authorize and validate credit card payments while the customer is still online. These gateways provide a walkway from your website to a different modem channel to check the credit card status in real-time, a very complicated process if you were to do it on your own from step one. If you wish to use a real time gateway, which is most common with ecommerce shopping card software, make sure it is compatible with the system you are going to use. Our shopping carts are compatible with the major merchant account providers such as authorize.net.

Costs

The cost of setting up and maintaining a credit card merchant account depends on who you choose to provide your merchant account services and how many middlemen you go through.

Please click on the continue button below to find out more about our partner AuthorizeNet and e-onlinedata’s merchant account services.

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