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Merchant Services
By Nathalie
Support >>

Own Merchant Account

Having your own merchant account gives you great flexibility and benefits. For starters, your customers will not be required to sign up for an account through a third party (such as Paypal) to pay you for your products or services. Depending on the solution you choose, you can take credit cards through many methods, such as over the phone, Internet, in person, wirelessly and by fax. Getting a merchant account also comes with countless benefits, and it will generally cost you less than a third party account. Most companies provide 24/7 customer service for immediate assistance. You will usually have less issues with the risk department since your application for an account goes through an underwriting process before getting approved. This helps ensure a smooth process rather than having accounts frozen or funds held due to questionable transactions.

You can also provide a much more professional image, such as having your own business name and phone number show up on your customer's credit card billing statement. Lastly and most importantly, a merchant account can provide a seamless integration with your web site, with features such as collecting credit cards without having the customers leave your web site. We recommend Gotmerchant.com for your own merchant account and here is why....

Our first merchant provider we signed up with lured us in with amazing rates and customer service. After just a few months of being with them they increased our rates up, put a 10% reserve on our account without telling us, and lied about the category our transactions fell into. They claimed over half our transactions were non-qualified which meant close to a 5% fee per sale. While researching providers, we realized that many companies used the same tricks to gain business. However, we found one company that is different. Gotmerchant.com is committed to providing personal service and competitive pricing. They have an excellent reputation and have been in business since 1998. If you wish to signup and get started accepting credit cards, then please fill out the following merchant application form.

For more info on rates, advantages and disadvantages keep reading...

Third party merchant account

Paypal and 2checkout are what you can call third party merchant accounts. They store the credit card numbers that charge your clients. With a third party merchant account, you basically go into your account, click "create item," decide how much to sell that item for, and decide if its going to be a recurring charge or not. Once you decide all that, they give you a link to provide your customers with. Your customers will then go to this link to signup with you. WARNING: 2checkouts largest competitor (Paysystems) was forced to shut down by MasterCard and visa when they determined their 3rd party business model to be illegal.  Many people believe 2checkout will follow the same course along with many of the other 3rd party merchant providers we haven't listed. We believe paypal will never be shut down due to is size, power, and the fact it does background checks on the accounts they issue through bank account verification, along with many other security checks which weren't in place with paysystems.

 

Benefits and Disadvantages

Paypal (www.paypal.com)

Paypal is the quickest way to start collecting payments and millions already have a paypal account. Paypal has a VERY strong member base. Even if you have your own merchant account it would be silly not to also take payments using Paypal. Over 15% of our sales are done through people who refuse to use anything but Paypal. A big benefit with Paypal is that you can have a debit card sent out, and have instant access to your funds! Paypal will run the shopping cart for you so it's hassle free, and no coding knowledge is needed. There are no monthly fees with Paypal since you are only charged when you sell. Paypal allows you to deposit earned funds into your bank, spend them using a debit card, or request a check. If you plan on only having a paypal merchant account keep in mind you will be losing sales due to the fact many countries aren't supported by paypal, and some people won't signup with you if they only see paypal. (They might think of you as an unstable company due to you not having your own merchant account with someone like Got Merchant.) Another benefit of paypal is that it integrates fairly well into the free billing manager we include as well as others like modernbill.

2checkout  (www.2checkout.com)

2checkout has very high transaction fees. There is a $49 setup fee to get started. They run the shopping cart for you so it's hassle free, and no coding knowledge is needed. 2checkout does not have any monthly fees, so you are only charged when you sell. 2checkout will pay you in the form of bi monthly checks. Because of the 3rd party market slowly being shut down by Visa and MasterCard we don't recommend a 2checkout account nor any other 3rd party merchant provider out there besides paypal.

Gotmerchant.com  (www.gotmerchant.com)

Advantages to Gotmerchant.com include competitive pricing, your own personal account manager, 24/7 customer service, and fast email and phone responses. Gotmerchant.com is a name you can trust and a member of the Better Business Bureau. Please visit their web site for complete pricing information and reasons why you should choose Gotmerchant.com for your credit card processing needs.

 All Top Merchant Account Providers

 ProcessingPoint Merchant Services

Accept Credit & Debit Cards Now! ProcessingPoint is the leader in delivering payment processing solutions to Internet businesses worldwide! Our expert team delivers hands-on customer service and round the clock technical support to ensure your business never stops growing! We offer:

- Great Low Rates - FREE Gateway- FREE Virtual Terminal- 24/7 Technical Support and Customer Service - Dedicated Representative- International Credit Card Processing- Exclusive Monaco Platform Merchant Program- One month FREE Payroll Processing* with any new account

 Paymerica

Complete Merchant Provider.  Start accepting credit card payments in just 24 hours with Paymerica's e-Commerce Plan featuring our FREE Payment Gateway. We'll match or beat any published rate or we'll give you $500.00 GUARANTEED!

Get started today!- First Month FREE! - Accept All Major Cards in 24 hours - FREE Shopping Cart- FREE Shopping Cart Integration Support - 24/7 Technical Support and Customer Service

CDG Commerce

Best Value & Service in the Industry.  CDGcommerce offers Internet merchants a turnkey, easy-to-use solution for Internet merchant processing including the industry's ONLY FREE Payment Gateway & FREE Verified by Visa/MasterCard SecureCode program along with the best customer service & technical support in the industry. - FREE Internet Payment Gateway- NO Per Gateway Transaction Fees - FREE Cardholder Authentication - INSTANT Gateway Activation

2CheckOut

The Worlds Trusted Merchant Account Alternative - 2CO is an authorized reseller providing turnkey ecommerce solutions including 24-hour customer care, tech support, state of the art fraud protection, recurring billing, transactions in multiple currencies, affiliate tracking, and much more. - NO Term Contracts - 30 DAY Money Back Guarantee - NO Monthly Fees

Paypal

World Renown Merchant Provider.  Want to accept credit cards directly on your website and get the fastest checkout available with PayPal?PayPal Website Payments Pro is the answer.- ENABLE PayPal within your existing shopping cart - ACCEPT credit card payments on your website - ACCEPT phone, fax, mail and in-person payments

 

Last changed: Oct 16 2009 at 11:16 AM

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