Setting Up An Internet Merchant Account
If the focus of your business is online then you have to be able to accept credit card payments to successfully compete in your market. To do so you will need to establish an Internet Merchant Account, even if you already possess a different form of Merchant Account (there is no limit as to the multitude of types of Merchant Accounts you can hold).
Setting up an Internet Merchant Accounts is a fairly simple process, involving the production of a variety of monetary estimations to your proposed provider including your average card transaction and monthly sales volume. As is the case with any Merchant Account, you are required to bring with you to your initial meeting your company name and address along with your contact information, current bank details and previous financial dealings.
However, as simple as this part of the process is the initial decision on which provider to go with presents a multitude of options. Research the potential providers and establish exactly what their fee structure is to decipher which Merchant Account will be right for your business. Fees are the part of the transaction where the provider makes the majority of their income so there are sure to be a host of different fee variations on offer. Transaction fees, Statement fees, Set-Up fees and both Monthly and Annual fees are common place and differ from provider to provider so make sure you take your time deciding who to go with.