One of the most intimidating things about starting an online business is how to set up payment processing. While you might just want information how to accept credit cards online, you may quickly be overwhelmed with all of the payment processing options out there. This site is a resource for those looking to start their own business, especially accepting payments online. Keep reading to learn the basics when it comes to accepting credit cards online!
The most common strategy for accepting credit card paymentsonline is through a merchant account. Normally a merchant account is utilized alongside a payment gateway system. Are you unfamiliar with merchant accounts? No problem! They are simple to set up and use, and will definitely help your business since they enable business to accept credit card payments.
Another online payment tool is the payment gateway. A payment gateway is the bridge between you and the merchant processing account. In short, it expedites the payment process between you, your merchant account, and your customer’s credit card company.
The benefits to utilizing a merchant account for credit card processing are endless. However, there are a few things you should know about using merchant services to accept credit cards online. First of all, there will be fees associated with these services. Fortunately, a large amount of competition keeps prices low and some merchant account companies do not charge set up fees.
Another item of note is the time between application and implementation. When you want to enroll into a merchant account plan, it usually involves an application and approval process. The result of this is that you won’t be able to start accepting credit cards onlineinstantly. Luckily, this process usually only takes a couple days, so you will be on your way to accepting credit card payments in no time!