Accept Credit Card Payments Services

Accept Credit Card Payments : Best Reviews of 2018

Merchant account is a contract between a business and a bank or a financial institution. This contract ensures that the bank accepts payments for the products or services on behalf of the business. These Accept Credit Card Payments acquiring banks ensures that a merchant or company can accept payment from international customers for the products or services they deliver. Thus merchant accounts form a vital part of any E-commerce business.

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There are two types of merchant accounts. First is the normal account, where the Accept Credit Card Payments can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of Accept Credit Card Payments involves the accounts where it is not possible to visually testify the customer. These types of accounts include adult entertainment merchants, online tobacco merchants, replica merchants, online gambling merchants, pre-paid calling merchants, VOIP merchants, multilevel marketing merchants, or any transaction that takes place with the customer physically not present. Thereby, the possibility of fraud activity is much greater with this type of business which results in classifying these types of accounts as “high risk” ones. Naturally, these high risk merchant accounts present the risk of the dreaded charge backs for the banks in question. It has been proved by various researches that these high risk processing transactions are more susceptible to fraudulent transactions.

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Accept Credit Card Payments : Things to Note and Avoid

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High Risk Account is referred as a legal contract between a financial institute and a bank. This contract guarantees that the bank will accept all payments or services by that particular business company. Merchant banks make sure that the account company receives payment for its services or products. This account holds immense significance for you, if you want to run a successful online E-commerce business. Currently, there are two different two kinds of accounts. 1st is an average account that allows account holder to directly access his credit cards as a legal customer. In this account there is minimum risk of any legal formality as the account holder is a legitimate customer. However, things get little complicated in the 2nd kind of merchant account. This type requires lots of investigation before legally processing of credit cards.

These reasons significantly decrease the number of banks and other financial institutions processing merchant accounts. These badly affect the in setting payment processing accounts of any company. Generally, many applications are declined or banks impose high restrictions on the processing Merchant Account transactions. These restrictions make it almost impossible to carry out regular business.

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Merchant Accounts Providers

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Accept Credit Card Payments : Best Reviews of 2018

Merchant account is a contract between a business and a bank or a financial institution. This contract ensures that the bank accepts payments for the products or services on behalf of the business. These Accept Credit Card Payments acquiring banks ensures that a merchant or company can accept payment from international customers for the products or services they deliver. Thus merchant accounts form a vital part of any E-commerce business.

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There are two types of merchant accounts. First is the normal account, where the Accept Credit Card Payments can directly access the card and ensure that it is a legitimate customer, thereby the risk involved is minimal. The second type of Accept Credit Card Payments involves the accounts where it is not possible to visually testify the customer. These types of accounts include adult entertainment merchants, online tobacco merchants, replica merchants, online gambling merchants, pre-paid calling merchants, VOIP merchants, multilevel marketing merchants, or any transaction that takes place with the customer physically not present. Thereby, the possibility of fraud activity is much greater with this type of business which results in classifying these types of accounts as “high risk” ones. Naturally, these high risk merchant accounts present the risk of the dreaded charge backs for the banks in question. It has been proved by various researches that these high risk processing transactions are more susceptible to fraudulent transactions.

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Accept Credit Card Payments : Things to Note and Avoid

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So you've finally decided to explore the revenue channel offered by the Internet. Accepting credit cards via the Internet has paved the way for merchants to increase their income. With more consumers shopping online, it's a profitable decision for businesses to provide credit card payment processing on their websites. The question would then be, where do you begin?

Here are the 3 major components of credit card processing:

Payment Gateway

A payment gateway manages the secure transfer of credit card funds of your customers from your website to your merchant account. This is done with a software interface provided by the payment gateway company that collects vital credit card data from the customer, and also informs the customer in real time if their credit card was approved or not. Payment gateway companies normally charge a transaction fee and a discount rate for this kind of service. Fees will vary from one processor to another, as well as features.

The three "ty's" of payment gateways:
  • scalability (can they handle varying transaction volumes)

  • reliability (do their servers provide 99.9% uptime)
  • security (fraud prevention tools, Address Verification Service, 128-bit Secure Sockets Layer (SSL) technology, PCI compliance)
  • Website

    Without a functional website, you won't be able to sell your products and services on the Internet. Merchant account providers sometimes offer site templates to choose from, and payment gateways offer shopping carts that are seamlessly incorporated on your site. The key words here are: easily integrated. If you can't integrate, you can't sell.

    In general, these three are the main factors when accepting credit card payments over the Internet. Having these three won't guarantee a successful online business, but are imperative if you plan on engaging in ecommerce. Search the web for the best solution you feel can help your business succeed. Merchants have long tapped the revenue potential of the ecommerce market, its about time you do.

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    TheGrandFoundation.com Specializes in Reviewing Merchant Accounts

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