Approximately 34 percent of shoppers prefer to buy online, an Econsultancy report estimates. An online merchant account is a requirement for any business owner that wants to accept credit card payments from customers via his website. Even if the owner doesn't have a website and performs services for Web-based clients, he needs an online merchant account to get paid. A number of convenient services allow you to establish one of these accounts, and in some cases the setup is free.
Instructions
1. Establish an Internet merchant account with First Data, a merchant account and credit card processing company. You have to pay a monthly fee for a Global Secure Payment Gateway when you choose this method of setting up an online merchant account, as well as a setup fee in some cases. This payment gateway processes the credit card information that customers enter online. You can also enter transactions with your own browser into a virtual terminal system (no physical equipment is required besides your computer). You must apply with a tax ID or Social Security number (credit check required) and provide a business check to get approved.
2. Use Google Checkout to set up your online merchant account. If you choose this option, you do not have to pay an upfront setup or monthly gateway fee --- only per-transaction fees. After establishing an account, you can create online stores and generate links to send to your customers to make payments online with a credit card. The service provides fraud protection (Checkout Payment Guarantee), which pays you even if the payment results in a charge-back. You need a bank account and information about your business to sign up.
3. Create an account with PayLeap as another way to set up your online merchant account. It provides an e-commerce payment gateway service that processes a number of online payments, including credit cards; Automated Clearing House, or ACH, transactions (electronic checks); and even gift cards. Set up a shopping cart to receive payments or enter a customer's credit card information into a virtual terminal from your browser. Expect to pay a setup fee, monthly processing fee and per-transaction fees with this service.
