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Payment by credit card offers both you and your customers safety, convenience, and peace of mind. But in order to accept this form of payment for your online storefront, you will need an ecommerce merchant account and a gateway. There are many providers out there, but how do you know you are choosing the right one? When selecting a merchant credit card account provider, you should ask the following important questions:
- How often will you payout into my savings or checking, and will you hold a rolling reserve?
- What is your discount rate, or the percentage paid to the credit card company for each transaction? (Be sure the rate quoted is for internet sales, as these are treated differently than sales at a traditional retailer.)
- Is there a monthly processing minimum? If so, what is the minimum?
- Do you allow real-time credit card processing, as well as offline, batch processing?
- What other fees will be charged? Will there be a statement fee or a per-transaction fee? How much?
- Will you set caps on monthly volume for my ecommerce merchant account? (This is a particularly important question if you have a large and growing business.)
Merchant credit card account and gateway in one If you are trying to locate a payment gateway and merchant account to serve your business's needs, you will find that it will be easier on you if you can have these two functions combined into one service. Monster Merchant is a package that bundles a gateway and merchant credit card account into one package. That way you can eliminate the confusion and inconvenience of working with two separate providers for these services. If you ever need support for your credit card processing system, there will be only one call to make instead of two or more.
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