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Online
Business Merchant Account
Acquiring
Merchant Account through Merchant Account Provider or Independent
Sales Organization (ISO).
Using
own merchant account to accept online payment may not be cost
justified for a small sales volume business owner. Unlike most
3rd party payment processor, online business merchant account
have fees recurring monthly even if we do not have much sales
for a given month at an average of USD$65.00 per month (some cost
less, some cost a lot more).
However,
it would be cost effective for merchant having a more stable business
and larger sales volume that brings in more than USD$2000.00 every
month. The pricing and package offered by the service providers
currently vary considerably.
It
is vital that you choose the right merchant service provider that
offer quality services and value for money and best suit your
needs.
Things
to look for in an online business merchant account provider.
Fees.
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How
much is the application fee, if any?
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How
much is the setup fee? If no setup fee, do they charge recurring
software least service fee?
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How
much is the annual fee, if any?
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Monthly
recurring fees? How much are the gateway fee, statement fee,
transaction fee, discount rate and monthly minimum fee.
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Other
fees include address verification fee, online check fee and
SSL fee. Check for other type of fee including hidden fees,
if any.
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What
are the chargeback fees? What are their chargeback policies?
How much is the reserve held back against future refunds, returns,
or chargebacks?
Restrictions
and limitations.
-
Does
the company restrict on the type of products you can sell?
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What
is the monthly maximum sales transaction limit? How much extra
charges incurred if you exceed the limit?
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What
are grounds for termination of service? Some service providers
simply terminate your service without warning. Make sure you
read carefully their term of service.
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What
form of support do they offer?
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Do
they have support forum for their merchants.
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Does
the company provide prompt support from real live personnel
when contacted? Do they provide 24 hours technical supports.
Features.
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Do
they handle tangible as well as intangible products?
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Do
they provide recurring billings system and shopping cart facility
and affiliate program management?
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What
other value-added features do they offer for free or at minimal
cost?
Most importantly,
carefully read the terms and conditions of the agreement, the
fine prints, the hidden costs, other regulations as well as the
refund and charge back policy, before signing up for any merchant
account service provider.
Here are the
best Merchant Account Service Provider that we had reviewed. Note:
All of them provide complete packages ie: payment processing complete
with their recommended payment gateways that best suit their solutions.
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CDGCommerce.com
(For US Merchants). It provides great customer support and has
the most competitive rates avalaible.
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