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Online Merchant AccountDate Added: December 11, 2008 07:52:54 AM |
| Online merchant accounts enable merchants to accept credit cards online. These accounts transfer money from the customer’s account to the merchant’s bank. Today, online merchant accounts are essential for every business regardless of their size and status. These accounts really make payments much faster and easier. Online merchant accounts cuts off paperwork, phone calls, mailing and advertising expenses and labor for data entry. It offers many payment options and as they are multi currency accounts, you can easily deal with clients globally. Online merchant accounts work using a special gateway software or virtual terminal to connect your website and the credit card processor. Online merchant accounts can be set up in two ways You can share a third party account or you can open an account of your own. Creating a third party account is simple and fast, with a low fee. The process may take many days, and the set up fees can be high. It is recommended that when starting a business use a third party account, and later change to online merchant account. You can set up an online merchant account through one of the various merchant account providers (MAPs) or through a bank. MAPs are responsible for transferring payments through the Internet. They charge a transaction fee for it. There are also many independent sales organizations, that offer third party online merchant accounts. |