Online Merchant Accounts : Reviews and Expectations
The primary costs to a merchant of merchant accounts are discount rate and transactions fees. The merchant account provider has a lot of latitude in the pricing structure.
Three tier pricing of Online Merchant Accounts is one of the most common pricing schemes. Using 3 tiers pricing, the merchant account provider groups the transactions into 3 groups (tiers) and assigns a rate to each tier. The three tiers are qualified, mid-qualified and non-qualified rates.
A qualified rate is the lowest tier. It is what a merchant is charged when processing a consumer credit card in a way that has been defined as standard by the merchant account provider. The qualified rates is what is usually quoted by merchant account salespeople. A mid-qualified rate is what the merchant is charged if processing a transaction outside of standard parameters. A mid-qualified rate may apply to rewards or corporate cards, which can comprise up to 40% of the cards used for purchases. The Online Merchant Accounts, of course, has no control over what card a consumer uses.
Perhaps one of the biggest difficulties of being a merchant in the online adult industry is trying to accept payments from customers. It's not that your customers don't want to pay you, it's that the number of financial institutions willing to provide you with the capabilities to accept credit cards is small, and most of those have extremely high rates which means your profit is diminished greatly.
As a merchant in the adult industry, your number one priority is to find a merchant service provider with the lowest possible rate. However, it's also important to find a solution that is stable and reliable - if your provider is not adequately prepared for high risk merchant solutions then chances are there will be problems, the last thing you want is to have your money frozen or lost!
Online Merchant Accounts : Reviews and What to look for in a Merchant Account ?
In today's high risk e-commerce industries, there are several credit card payment solutions available for dating, foreign exchange, gaming, replica, travel and web hosting merchants. Merchants should always consider partnering with a payment service provider (PSP) known for credible payouts, customer service and that can provide a technically sophisticated gateway. All these factors assist a merchant to process without interruptions, minimize fraud and more importantly, increase their revenue.
Merchants should work with a payment service provider who not only presents the gateway solution that facilitates credit card payments but a live merchant account. The merchant should know in which bank the merchant account is held and be given access to it. This ensures reliable and secure settlements. This also enables the (PSP) and merchant to forge a relationship based on trust. A reputable payment service provider will be accommodating in extending full disclosure to their merchant(s).
Dating merchants can benefit tremendously if their payment service provider provides rebilling while gaming merchants should always consider a payment service provider who offers affiliate management. Both these services are instrumental in increasing revenues. A merchant should always strive for long term processing and incorporate ant-fraud mechanisms to ensure their volume grows.
A merchant can be successful in partnering with a credible (PSP) and Acquiring bank to ensure all their needs are met.
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