Tips on Setting up Your Online Merchant Account

 MERCHANT ACCOUNT OPTIONS

Pick a gateway with a strong reputation. The whole point of setting up a merchant account is for convenience and reliability. So it makes sense to choose a gateway that has already processed payments for thousands of merchant accounts and is supported by several webhosting companies.

There are a lot of new companies offering excellent rates and great features in their gateways, but you want a system that you can be sure is going to work, with little or no downtime.  Merchant Alliance only works with payment gateways from established companies with a proven track record for reliability like the LinkPoint Payment Gateway and Authorize.net.  

Work with a processor that understands merchant accounts. Many banks aren’t well equipped to set up merchant accounts, and they will simply refer you to a third party for a commission on your merchant account.  We understand that you may prefer to do your banking with a small, local bank or credit union.  But when it comes to processing credit card payments, it pays to got directly to a processor that has experience with merchant accounts. You’ll probably save time and money, and you won’t have to worry about inconvenient “surprises” when it really matters.  The funds from you merchant account can be deposited at a local bank. 

 Allow plenty of time to set up and approve your merchant account. Chances are, you’ll get a happy surprise when you find your merchant account has been approved in just a few days. This is what usually happens, but things don’t always go this smoothly with new merchant accounts.   Whatever happens, you don’t want to be stuck in the position of losing orders in the first days of business because you’re waiting on a payment gateway.  A good rule of thumb is to set up your merchant account three weeks before you’re planning to accept credit cards. 

 Understand all of your fees. Merchant account services charge their clients in different ways. Be sure to take time some time to understand how much you’re being charged, what you’re being charged for, when you’ll be charged and how often.  Typically there are annual fees, monthly fees, and per-transaction fees. But each of these categories can be broken down in additional ways.  The good news is this won’t seem very complicated once you understand it. Read your merchant account application carefully, and ask question when you need to.  Merchant Alliance, LLC offers a 24-hour toll free help line. If you have questions about your merchant account, just call us at 866-441-6670. 

Make sure you’re quoted the rates that fit your business model. In the world of merchant accounts, not all transactions are equal.

Retail transactions are generally considered a lower risk, because the card and its owner are physically present when the transaction is processed.

As a result, merchant services companies tend to advertise their retail rates, as these are usually less than 2% of the transaction. But if you need to accept credit cards for a mail order or internet business, you can expect to pay more.  Make sure you know what your real rates are going to be, especially if you are in a business for which the rates are likely to change. See our merchant account option at http://k2b-bulk.ebay.com/ws/eBayISAPI.dll?MfcISAPICommand=MyeBaySellingActiveListings&SubmitAction.ChangeFilter=x&enablefilters=1&searchvalue=merchant+&searchparam=6&StoreCatFilter=-4&NewFilter=All&SubmitAction.ChangeFormat=Go&FormatFilter=All

Call us at 866-441-6670 for consultation.

MERCHANT ACCOUNT OPTIONS

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