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HOW TO ACCEPT MP3 CREDIT CARDS ON THE NET?

You have opened your online store which sells the best quality hand made souvenirs in the world and are waiting for your first customer. It is not as simple as you thought. 98% of online shoppers prefer to pay using the credit card and they don’t send cheques or do wire transfers. This is why your business will never be an actual ecommerce business until you get an ecommerce merchant account, which will permit you to accept credit card payments from your customers over the internet. By now you should be convinced and must be trying to find you which ecommerce service suits your business the best.

If you have not understood the importance of credit card processing then read this: almost 98% of online shoppers like to pay only by credit cards and not cheques or wire transfers. Moreover, it is very stable, rapid and secure. It is also international accepted. There are a few critical items needed before you can start to accept credit card payments from your customers. They are a) Ecommerce Merchant Account which you can obtain from any merchant bank or merchant account provider and b) Shopping Cart Application.

If you want to obtain an online merchant account from a merchant bank, then you will have to face numerous problems and several disadvantages. Firstly, the number of merchant banks which you can choose from will be very low. The higher the number, the better your chances are. Most of the domestic merchant banks will not accept your application because you will not have a credit history, since you are new in the industry. The domestic banks need someone credible person to guarantee that your online business will not become bankrupt due to chargeback’s or returns. The direct merchant bank is definitely not an option for new comers.

2nd Option: You can opt for an Online Merchant Account Provider. The providers of merchant accounts will eliminate all the hassles of applying and communicating for you. You only have to fill out a simple form which will take a few minutes. These providers have huge databases and many affiliated banks all around the world. Therefore, the account provider can approve your application within 24 hrs. Also, you have a wide range of merchant account types to choose from like direct merchant accounts, 3rd Party Merchant Accounts, International Merchant Accounts, Offshore Merchant Accounts and high risk merchant accounts.

You should analyze your business to find out which type will suit you best. This is not an easy task. Remember this, choosing the wrong option will devastate your business.

The “high risk merchant account” will not suit your online business unless it is classified as high risk by the bank you want to do business with. “Offshore Merchant Accounts” will be good after your business begins to generate enough revenue.

You also need a good quality shopping cart for your website. There are several shopping cart applications available in the market, some for free. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.