Monthly fees. Anywhere between $25-$50 for statements and minimum fees.
Per transaction and charges fees. Usually between 2%-3.5 % in fees and .30-.50 per transaction.
Gateway fees. $10-$30 per month
SSL certificate. Can be as much as $250
Shopping cart fee or software purchase. Monthly can range $20-$70 and software purchase can be as much as $1400.
In addition to the cost is the technical aspect of setting up your site to use a shopping cart and real-time processing. Not all gateways, merchant accounts and shopping carts play well together. You must make sure that each can work with each other. Plus be prepared to properly set up your web server to use all this nice technical information the accounts give you.
Now, if you are a larger business or do a lot of sales each month perhaps your own merchant account is the answer for you. It can save you money in the long run. But if you are just starting out with an online business, then a third party merchant may be the answer for you. Third party merchants handle all the background details, pay the monthly fees, assume the risks of fraud and charge backs, and handle all the secure shopping your customers will expect when shopping online. While the monthly fees may be a bit higher, there usually isn't a set up charge, gateway fees, SSL charges and shopping cart set up. Depending on the service you choose, they can give you simple HTML code to add to your site or allow you to use "buy buttons" or both. Fees range anywhere from 5% to 13.5%. Some companies charge a set up fee and a per transaction fee.
How To Find the Best Merchant Account For Your BusinessWhat a great idea! Start accepting credit cards and watch your profits soar. Nothing could be simpler. Or so you thought until you began researching merchant accounts. It can all get extremely confusing. There is an easy way to find the best deal that suits your business. You ll be able to compare apples to apples and have a clear picture of what the merchant account will cost you. Let s take a look at some of the phrases you ll encounter (in layman s terms) when you begin to search for a merchant account. --- Merchant Account Provider - The company who arranges for your payment hardware or soft ..
Then there is always Paypal. A useful service for new comers to the online payment arena but it has its drawbacks. With Paypal:
Your customer must set up an account with them
They can FREEZE your account
They can set limits on monthly transactions
I suggest you explore all your options and decide what is best for you financially and technically. A little research online can save you money and time in the long run.
Accept Credit Card Merchant AccountIf youre looking to expand your business, you can soon accept credit card merchant account payments by applying for a merchant services account. Many lenders and financial institutions are eager to provide this account to responsible entrepreneurs who seek to provide credit card payment options at their business. Whether you sell products from your home, travel around to provide consulting or training services, or conduct business solely over the Internet, a merchant services account can help move your company into the e-commerce arena.
When you are ready to accept credit card merchant accou ..
Jim Hoffman is the co-founder of Inet Goodies. An internet resource group, focusing on SEO, Hosting, Billing solutions and Traffic.
http://inetgoodies.co
Jim HoffmanDo You Need A Merchant Account?
