How to Set Up an Online Merchant
Approximately 34 percent of shoppers prefer to buy online, an Econsultancy report estimates. An online merchant account is a requirement for any business owner that wants to accept credit card payments from customers via his website. Even if the owner doesn't have a website and performs services for Web-based clients, he needs an online merchant account to get paid. A number of convenient services allow you to establish one of these accounts, and in some cases the setup is free.
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Instructions
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Establish an Internet merchant account with First Data, a merchant account and credit card processing company. You have to pay a monthly fee for a Global Secure Payment Gateway when you choose this method of setting up an online merchant account, as well as a setup fee in some cases. This payment gateway processes the credit card information that customers enter online. You can also enter transactions with your own browser into a virtual terminal system (no physical equipment is required besides your computer). You must apply with a tax ID or Social Security number (credit check required) and provide a business check to get approved.
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Use Google Checkout to set up your online merchant account. If you choose this option, you do not have to pay an upfront setup or monthly gateway fee --- only per-transaction fees. After establishing an account, you can create online stores and generate links to send to your customers to make payments online with a credit card. The service provides fraud protection (Checkout Payment Guarantee), which pays you even if the payment results in a charge-back. You need a bank account and information about your business to sign up.
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Create an account with PayLeap as another way to set up your online merchant account. It provides an e-commerce payment gateway service that processes a number of online payments, including credit cards; Automated Clearing House, or ACH, transactions (electronic checks); and even gift cards. Set up a shopping cart to receive payments or enter a customer's credit card information into a virtual terminal from your browser. Expect to pay a setup fee, monthly processing fee and per-transaction fees with this service.
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