e-Commerce Merchant Accounts
Obtaining an eCommerce merchant account to accept credit cards on the Internet
is more difficult than obtaining a 'regular' merchant account due to the
high risk that the card is not present nor is a signature obtained.
Even if a merchant already has a physical world merchant account, that
account is not likely to be Internet-ready as Internet transactions fall
under a different category and qualify for different rates than physical
world transactions.
Getting an eCommerce Merchant Account
If you already have a merchant account, notify your financial institution
that you wish to use the online payment service. If you are accepted,
they will set you up with a different eCommerce merchant account. If your
financial institution have strict rules on issuing eCommerce accounts, they
may not allow you to get one.
If you do not have a merchant account yet or wish to find out which rates
you may qualify for, contact merchant
account providers or third-party
merchant services.
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