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Accepting credit cards over the internet without a
merchant account
There are mainly two ways to accept
credit-cards over the internet from a
website. The first way is to acquire a
merchant account, but is an expensive
option. In addition to the cost, there
is a lot of paperwork, involves
extensive credit-cards and usually takes
some time before a trader gets approved.
However, there exists another
alternative that is free from such
hassles.
There are a number of 3rd
party processors who accept payments
made by credit cards on a trader’s
behalf. For taking the trouble of
accepting credit card payments, the 3rd
party processors usually charge a
percentage of the sale. Generally, the
rates vary from one processor to
another; hence it is essential to do
some amount of research well in advance.
By doing so, traders can get the best
suited processor for their business.
There are certain providers who accept
all types of services and goods, while
other concentrate only on certain
services and goods.
General purpose third party payment
providers include:
PayPal – PayPal is a third party payment
processor which is known for offering
services at lower rates. The cost for
each transaction is lower when compared
to other third party payment providers.
PayPal gives great support as well as
excellent documentation which helps in
setting up the system very quickly.
2checkout.com – Here, traders will be
charged with a nominal set-up fee. Also,
the cost for each transaction too is
reasonable. Discount rates are average
and the serve is good. Through them,
almost all the major credit-cards can be
accepted.
Digital information 3rd party
payment providers include –
Citibank – Here, traders will be asked
to pay a one-time activation fee. After
this, a fee will be charged for each
transaction but it is reasonable.
Moreover, Citibank also offers the use
of an affiliate program through which
traders can get profits when their
products are sold by others.
Digibuy – This is an e-commerce solution
of software publishers, electronic art,
shareware, data and information. A
minimum amount is charged for each
transaction. Traders will also be
provided with a number of features such
as order forms that can be branded, test
orders and invoicing.
If a trader is looking for having
chopping carts that can be branded, then
Citibank is the best option. Citibank
allows traders to customise their order
forms based on their liking so that
their consumers do not navigate from
their website. This helps traders to
build trust amongst their consumers.
It is essential for traders to know that
accepting payments made from credit
cards over the internet is not very
expensive. In several cases, credit
checks will not be required at all.
Almost all the services make deposits
directly into the traders account; hence
adding to the convenience. All the 3rd
party processors aid traders in setting
up the system. When a trader has to
accept credit cards inexpensively and
quickly, he/she needs to consider the
above mentioned options. One of these
will surely meet the requirements for a
particular business. |
