In order to do business online, an internet merchant account is vital. An internet merchant allows a merchant to accept credit cards online, as well as perform other essential eCommerce functions. It’s a dedicated account that can accept payments and transfers via credit cards and debit cards.
There isn’t really any way around using one if a business is going to have any or all of its business online. The question, especially for new businesses, is how to apply for an internet merchant account.
Research The Services Available
As a general rule, it’s always best to know the options for internet merchant accounts that are available to you. Choose a merchant account provider that has competitive rates, flexibility, and willingness to work with a wide range of both payment providers and merchants. Anyone looking into how to sign up for an internet merchant account may wish to consider the following criteria:
- What (if any) set up fees are involved?
- What (if any) recurring fees are involved?
- What are the transaction fees?
- What industries will this internet merchant account provider work with?
- What has the customer experience been for others with this internet merchant account provider?
Gather The Information Required To Sign Up
When processing an application, many internet merchant providers will consider the following factors:
- The nature of the business
- How long the business has been in existence
- If there have been any major financial issues (bankruptcy, default, etc)
- The industry of the business
- The country in which the business is located, and the citizenship of its principals.
- Any previous merchant account history of the proprietor(s)
Choose a merchant account provider that will work with your company and its principals.
Submit the Necessary Information For A Quote
Submitting the application information does not mean committing or automatically enrolling in the service. Since different internet merchant account providers have different criteria for establishing their rates and fees, it’s a good idea to compare a few options. Signing up with a merchant account provider that offers price assurance is a great option for making sure you are getting the lowest price.
Make A Decision Based On The Quote and Other Factors
Typically the first priority in making a decision on internet merchant accounts, and similar financial institutions, would be the cost. However, with a service that’s offering the ability to process credit cards online, other factors might also come into play. Things like the internet merchant account providers’ security record, set up and accessibility, and integration with site hosting might all enter into the equation.
With the knowledge of how to apply for an internet merchant account under your belt, now is a great time to begin exploring options. A smart and easy way to start is by contacting Charge.com either through their website or by calling them at (888)924-2743