If you are doing business online then you need to get an Internet merchant account.
An Internet Merchant Account is a merchant account that integrates directly with a website, or the shopping cart of a website. It uses a payment gateway to do this and allows website owners and operators to process cards directly through their site. People who want to use an Internet site to create leads, without directly taking payments through the site can use a regular Merchant Account.
A specialist Internet merchant account will help website owners to get the absolute lowest costs to process credit cards and take money online. However, finding the best account provider for their needs is not always easy.
In fact Internet credit card processing can actually work out to be an expensive process unless people are aware of what to look out for in an Internet Merchant Services provider.
Many problems can arise for people with Internet Merchant Accounts from getting charged a lot more than they thought they would be, to extra charges added on in the ‘small print’ of their contracts. These may include long contracts and hefty fees to terminate accounts and change providers.
The main reason for these problems happening is that the merchant account marketplace is very competitive, and there are many companies fighting over the same business. Whilst this may seem like a good idea, it actually creates a problem because many credit card processors are not completely straightforward about what they charge, in an attempt to persuade as many people to sign up as possible.
People normally want to know what they will be paying as soon as the speak to an account rep. This can be a really misleading area though. People will get quoted a rate and then assume that’s all they’ll pay! But it doesn’t work like that. People really need to understand all the charges that can be added to their account and they need to speak to an account provider who is prepared to be completely upfront about it.