A merchant account is a special kind of bank account where funds received from credit card transactions are first routed to the special account and held there before being remitted to your business account. You as an online merchant will need an account called “Card Not Present Merchant Account”.
Having the merchant account is, actually, the first step in processing credit cards online. You will also need a payment gateway. A payment gateway is a service provided by billing processor which allows real time authorization of online transactions. The payment gateway you choose to work with has to be compatible with your shopping cart. Three top payment Gateway providers are AuthorizeNet (
http://www.authorizenet.com/), Verisign (
VeriSign - Security (SSL Certificate), Communications, and Information Services) and USAePay (
http://www.usaepay.com/). All payment gateway providers have their own merchant solutions. Most banks, today, work with partner payment gateway providers and are fully capable of furnishing with a merchant solution.
04-01-2007, 06:45 AM
Merchant Account
