Its Web Related . Complete Web Design, Web Hosting, E-commerce, Internet Directory and Resources
Sponsor Login
 
 
You Are Here
submit your listing
   
  ItsWebRelated.com Resources
 
 
Ecommerce Resources
Credit Card Processing
Online Merchant Account - Costs and Alternatives
The Credit Card Question
Types of Merhcant Accounts
Prevent Online E-commerce Fraud
Moving the Money - Online Payment Options
General ECommerce Hosting
Evaluating E-commerce Hosting Plans
General ECommerce Basics
The 5 Biggest Mistakes Made by Home Businesses
Make Money Online without a Single Product on your Hand
Is The eBay Fee Increase Actually Good For Business?
Is Brick and Mortar A Passing Fad?
Do I Really Need A Business License and Tax ID?
eCommerce Fundamentals
In-store Collaboration
Canada and eCommerce
Ecommerce Hosting Considerations
ECommerce Security
Don't Fall For The Latest Internet Identity Theft Scam
SSL - The Indispensable Ecommerce Tool
Blogs and More
Blogs, Podcasting and RSS | eCommerce Impact
Miva Merchant Hosting
Search Engine Marketing for Miva Merchant 5
Building E-commerce Sites the Easy Way - Miva's Miva Merchant - Software Review - Evaluation
A Review of the New MIVA Merchant(tm) Version 5
Shopping Cart Features to Consider
Miva Merchant Web Design A More Affordable Ecommerce Method
Selling Online - Common Shopping Carts
Ecommerce Design
Achieving Good Ecommerce Design
Miva Hosting
Selling Online - Common Shopping Carts
Search Engine Marketing for Miva Merchant 5
Other Web Resource Areas:
Web Design Resources
Web Hosting Resources
Web Marketing and SEO Resources
Domain Registration Resources
Web Application Resources
Web Development Resources
Business Resources
Ecommerce Directories
Take advantage of our web design, web hosting, web marketing / SEO, and domain registration directories to find the best companies, best products and serivces that meet your needs.
Find them here:
Go There
Directory Sponsored by:
Forums
Share information, collaborate with others about your interests, etc..
 
Go There
 
 
Types of Merhcant Accounts
by Bruce Zhang | Published Feb. 15, 2006
 
Article Rating: 3 Stars ( based on 3 votes)
Text Preference:
small
large

For Print
Printable_version

There are several different types of merchant accounts. As you might expect, not all of them are suitable for a web host or online business that will be conducting most of its transactions over the Internet. Not all providers of merchant accounts user the same terms, fees, and pricing structures. In general, however, credit card merchant accounts fall into one of the following three types:

  • “Card swiped” retail accounts. You have probably done business with any number of brick-and-mortar merchants with this kind of account. They take your card and slide it through an electronic terminal reader. You probably didn’t think about it at the time, but by reading your card in that way, the merchant proved that your card was actually present, providing the credit card company with an added level of security to show that the transaction was legitimate.
  • “Keyed entry” retail accounts. These are designed for situations where the card is present but the merchant can’t electronically swipe it. Often card numbers are keyed into a physical terminal. You have encountered a merchant with this kind of account if you have ever done business with someone who took a manual imprint of your card (and if you’re old enough, you might even remember when all credit card business was conducted this way). Fees charged for these kinds of accounts are generally higher, because the risk of a stolen card being used and getting past security measures is considered to be greater.
  • Internet accounts. These are also sometimes referred to as mail order or telephone accounts. If you conduct business over the Internet, this is the kind of merchant account you want; it is designed for businesses that often don’t see their customers face to face. This means the physical card is not present to be swiped or imprinted. These accounts are a little more expensive than the other two, because of the security issue involved when the card itself is not there.

If you don’t know the differences between these accounts – particularly in what is required for each transaction – you could end up paying lots of extra fees. That great deal you thought you made will turn out to be not so great when you get your monthly bill!


Google Ads Block here.


 
 
 
Copyright 2005-20013 ItsWebRelated.com
 
 
 
 

Developed by HindSite Interactive | Powered by WebNet Hosting | Related Links | Small Business & Web Design Blog