How to Set Up Online Credit Card Processing
E-commerce is a fast-growing industry. Entrepreneurs seek opportunities to capitalize on the millions of transactions that occur each day online in hundreds of countries and currencies. Online international transactions are most convenient with the help of major credit cards. If you are new to e-commerce, perform the necessary steps to set up online credit card processing. You will gain access to an immense audience base that, when prompted by the allure of your products, can instantly act on impulse to buy.
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Instructions
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Contact your business banker or a third party merchant account provider. Request a "no card present" merchant account for online payment transactions. Your account provider will recommend a variety of gateway servers that work best for this transaction type.
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Ask the account provider which payment gateway account comes with an online shopping cart and has the lowest fees for your sales transaction volume. Also, inquire about processing speeds for each gateway to ensure customers do not have to wait long for their order confirmation with each purchase.
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Select a gateway account. Your merchant account provider will forward you a contract by email or fax detailing the length of the contract, terms and conditions of use.
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Sign the contract and return it to your merchant account provider to activate your account. If you manage your own e-commerce website, request a tutorial on how to install "Pay Now" buttons and embed the shopping cart into your website. Tutorials are often offers through short videos or webinars to help you navigate the the set up process.
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Complete the tutorial and embed your merchant account tools onto your website for customer use.
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Tips & Warnings
Add shopping carts to each page on your website to remind customers if they have items awaiting payment.
If you don't have an extensive business credit history or credit references, you may not qualify for a merchant account with a bank.
