How to Add Mastercard & Visa to a Website

Customers want the convenience of shopping online. To get your share of the online consumer's business, you'll have to provide Internet payment options. To do this, you will need a merchant account and the ability to accept MasterCard and Visa payments on your website.

Instructions

1. Research companies that offer merchant accounts (see Resources below). This is a commercial bank account that enables you to process credit cards. Depending on the type of merchant account you choose, you may be able to process other cards in addition to Visa and MasterCard.

2. Request rate quotes and contract information from several providers. You will be charged fees for your MasterCard and Visa transactions, and some merchant account providers may offer more attractive rates and terms than others. Ask for rates specific to Internet processing, as terms may be different for brick-and-mortar and mail-order businesses.

3. Meet the requirements of the account provider. For example, you may have to be 18 years old and a United States citizen. You may also need a business bank account, Social Security number, and other documentation.

4. Verify that the account provider you select allows online transactions. Online credit card processing may be considered riskier than transactions for which you obtain a credit card imprint and cardholder signature. Some merchant account providers may be reluctant to handle this type of account, while others may be leery of handling them for new businesses.

5. Determine whether the account provider will allow transactions for your type of business. Some providers may not allow transactions for adult-related products or services.

6. Apply for a merchant account, filling out the necessary paperwork. You may have to provide information such as average transaction and sales volume projections. You may also have to pay an application or setup fee.

7. Obtain software and/or instructions from the account provider for processing transactions via your website.

8. Add a form or shopping cart to your website to allow your customers to use MasterCard or Visa as payment.

Tips & Warnings

• There are third-party processing companies that allow businesses to process MasterCard and Visa transactions through them, without obtaining merchant accounts. However, these companies may charge higher fees than merchant account providers or place restrictions on the type or number of transactions you can process.

References

• FindMyHosting.com: Choosing An Internet Merchant Account
• TamingtheBeast.net: Payment Gateways
• BankRate.com: Swiping smartly

Resources

• Read this Article in Spanish
• Business.com: Merchant account provider list