Your selection of a merchant account can either make you or break you!  Most of the billions of dollars that pass through the internet each year are processed through traditional merchant accounts through major internet gateways and shopping carts.  For e-businesses with a cash flow of several thousands of dollars a month, there's no question that the merchant account/gateway/shopping cart system is the most efficient and effective way to move the money and provide maximum convenience for your customers.  In other words, if you anticipate bringing in more than $5,000 a month in sales in the next 6 months or so, you don't need PayPal, start here!  For an in-depth analysis of Merchant Accounts compared against 3rd Party Processors, see the article entitled Comparing Third Party Credit Card Processors Against Merchant Accounts.

Some merchants who don't understand the terms of their contract with the acquiring bank, however, may find themselves facing unexpected fees, fines and threats to close the account.  Selecting a bank and processor for handling your credit card transactions online is usually done through the services of a sales organization that represents one or more banks.  This organization, often called an ISO (Independent Sales Organization), will also offer retail point-of-sale equipment, if needed, and possibly several options for linking your internet business to the processor through a gateway.  The sales organization will usually provide several important services such as the training needed to use the POS equipment and gateway services you purchase.  A representative selection of ISO's and processors is listed below, including some of the biggest players on the web.

If you're selling products online, such as through an e-business or home business, and not through a brick-and-mortar retail store, you may be able to lower your costs by contacting the processors directly.  The processors provide the technological links to the Visa and MasterCard networks for authorizing credit cards and settling the transactions.  

E-commerce discount rates are higher than retail  (brick-and-mortar) discount rates because there's no face-to-face interaction with the cardholder and no swipe or signature, thereby increasing the risk of chargebacks.  Some types of businesses may also have higher risks due to the types of products they carry, the credit background of the business principals, the amount of monthly sales and the average amount of each sale (average ticket).  

If you're just starting out in your ecommerce business, or your expected monthly sales will be less than five thousand dollars or so, you may wish to consider alternative e-commerce options as described on the Ecommerce Payment Alternatives page, before deciding on your best solution.  You will lose the functionality of a nice shopping cart and customer database, but you can upgrade when your sales increase.

Any factor that may increase the number and amount of chargebacks increases the underwriting liability for the bank or processor.  This results in a higher discount rate to the merchant.   Based on Visa and MasterCard rules, a chargeback requires that the cardholder be refunded, regardless of whether the merchant account has ample funds.  Some merchants who have paid high chargeback losses feel that the credit card rules favor the buyer at the expense of the merchant.  Keep in mind that if the cardholder is afraid of getting ripped off by the merchant without protection by the system, especially on the internet, he will simply not use the card and the merchants will not get the business.  The best protection for the merchant is to know the rules and fully understand the fine print in the merchant account agreement.

A number of processors and sales organizations are listed below.  For your convenience, there is a handy Full Disclosure Request Form below to help you get specific pricing and cost information from over a dozen merchant account providers.  Understanding all the costs and restrictions imposed by merchant account providers is critical in order to avoid situations where your account may be closed due to excessive chargebacks.  If your account is closed, your business is shut down, and your name may be black listed in the MATCH list to prevent you from ever qualifying for a merchant account in the future.  You may also visit the web sites of the merchant account providers below to gather information about rates and services provided.  We suggest you do both, visit the web site and also send the email requesting full disclosure using the form below.

Why do both?  When you visit a web site you get a limited amount of information which is biased in favor of promoting sales, in other words "hype."  The information on the web site may change from one day to the next.  Unless you print or copy the entire web site, you have no real proof of the offerings and rates published at the time you visited the site.  If, on the other hand, you request full disclosures by email, the response is a legal document and should comply with the legal disclosure requirements imposed by various legal authorities.  

In addition to hype, the web sites give very general information intended for only certain types of businesses.  On the email form you indicate your specific type of business, your anticipated monthly sales, and your location (city, state and country).  If you're located in another country, for example, you want to state this information up front so that the rates you are quoted are relevant.  A number of providers on the email form list serve both domestic and foreign businesses.  We deliberately left out a place for your phone number on the form because we don't want the sales people to give you verbal, undocumented quotes over the phone.  When, and if, you're ready to apply for a merchant account, you can give them your complete address, phone number, etc., as required.  At that point, they will also have to run a report on your credit history.  (If you have problems with your credit rating, you may wish to look at the credit and debt counseling services on the Merchant Goldmine Financial Resources page.)

The email you send is dated and records your email address and the recipients email address.  If you include the previous correspondence in all replies, you have a complete history of every word said, by both parties, in one document, which you can take to court, if ever needed.  The web site is important to give you enough information to determine your initial interest.  The email is the follow-up to do your homework and look at the fine print before closing the deal.  If the response is insufficient or uncooperative, simply go on to the next candidate.  In other words, vote with your feet, or, in this case, vote with your email.

Need Help?

We can also help you find the best merchant account deal for your businesses by shopping around for you with our connections in the e-commerce business.  Fill out the E-Commerce Profile form to tell us the deal you would like to beat.  If we can save you a couple of points, that could mean considerably more dollars in your pocket at the end of the month.  Fill out the E-Commerce Profile form and request our professional assistance today!  All information you provide on your E-Commerce Profile will be treated as confidential. 

International Commerce

Planet Payment™ is a leading provider of Internet payment solutions for e-businesses - globally - in nearly any currency. Planet Payment features multi-currency credit card acceptance services, advanced payment gateway technology, and value-added products and services. Planet Payment's state-of-the-art Internet payment service enables e-businesses to accept MasterCard®, Visa®, American Express® and other major cards in a secure online environment in over 140 currencies. These affordable solutions are compatible with most shopping carts and website technologies, so implementation and setup is complete within minutes.

WorldPay pioneered multi-currency processing in association with NatWest bank in 1996.  The WorldPay multi-currency processing system enables you to offer your products and services in over 120 different currencies, and to receive payment for them from the range of 14 remittance currencies. WorldPay manages the uncertainty of foreign exchange rates for you, allowing your shoppers the unique choice of purchasing goods and services from you in a currency that they recognize and understand.  

ePagos provides complete e-Commerce solutions from web design and hosting to merchant accounts and gateways.  Everything you need in one package.  Borders are no problem for ePagos.  ePagos is the engine driving the electronic business revolution in Latin America. It is the answer for small and mid-size businesses needing tools to establish a virtual store and perform all of the operations of e-commerce on the Internet. Full support is provided in English, Spanish and Portuguese.

Si hablas Espanol, no problema!  A través de su software de comercio electrónico instalado en su sitio Web con ePagos, envian sus transacciones con tarjetas de crédito, utilizando SSL, directamente a las redes de Visa, MasterCard y American Express para ser procesadas y aprobadas.

Accessing these solutions is extremely easy. It can all be done on the Internet. ePagos is an on-line solution that allows you to open a virtual store in about an hour. With ePagos you can design your page, obtain and register a domain name for your virtual store, sell products over the Net, accept credit card payments, automatically calculate the corresponding taxes, and include the associated shipping costs with each purchase.  Compare Rates for ePagos with the Maculator™ .   

Domestic and International

We have selected some of the lowest cost and most professional payment solution providers available.  For example, AMS Merchant Account Services provides an internet e-commerce gateway and merchant account for only $99 and $10 a month service fee.  This includes the Authorize.Net Virtual Web Terminal to directly process credit card transactions on the web and the AMS E-Check service for secure electronic check acceptance.  Internet merchants are offered discount rates of 2.25% with a transaction fee of $0.30.  The internet gateway bundle includes the popular Authorize.Net service for only $10 a month.  Over 190 shopping carts are compatible with this gateway arrangement.  Compare Rates for AMS Merchant Account Services with the Maculator™ .

Charge.com provides internet gateway technology and full merchant account services to give you everything you need in one package for most merchants.  Charge.com offers an Internet e-commerce account for a 2.39% discount rate and $0.25 per transaction.  The monthly service fee is $10 and the gateway monthly fee is $29.95.  No setup fees and you can also apply for your American Express account for no cost.  You can usually save money by dealing directly with a gateway provider rather than a reseller.  Compare Rates for Charge.com with the Maculator™. 

CARDSERVICE INTERNATIONAL is an industry leader in credit card processing for traditional and Internet businesses. They offer merchant accounts with competitive pricing, customer service 24 hours a day, 7 days a week, in 140 languages and dialects, and one of the largest credit card fraud, loss prevention and chargeback departments in the credit card processing industry.  Cardservice International® has a 95% approval rate for merchant accounts, and merchant accounts are generally approved in two business days.  A complete range of products and services to enable e-commerce success including the LinkPoint Secure Payment and multi-language and multi-currency suppor.  The free Merchant Accounts Insiders Guide contains very useful information for all merchants.  Sign up as an affiliate with Cardservice International® to bring in extra revenue including residuals!  Compare Rates for Cardservice International® with the Maculator™ . 

Electronic Transfer, Inc. is a credit card processing company with one of the highest approval rates in the industry offering credit-worthy merchants responsive turnaround on their applications.  ETI offers no arbitrary processing limits -- they handle both the "mom and pop" business as well as the million-dollar company.  They also have the ability to set low rates and reserve requirements based on your type of business and charge back history for your business type.  Compare Rates for Electronic Transfer, Inc with the Maculator™ .

Quickly compare rates and monthly costs between 2CheckOut, Affero, BTClick&Buy, CCAvenue, CCBill, CCNow, ClickBank, DigiBuy, DigitalCandle, FastPay, iBill, iKobo, ImagineNation, InstaBill, Jettis, Kagi, MembershipPlus, Moneybookers, MultiCards, NoChex, Pay-Line, Paymate, Process54, ProPay, Reg.Net, RegNow, RegSoft, Share*It, StormPay, SWREG, Transecute, V-Share, Verotel and other alternatives, including over a dozen Merchant Accounts with the Maculator™

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