Every company that accepts credit card payments requires some sort of Merchant Account.

What is a Merchant Account?
A Merchant Account is an account number that all merchants have. It is provided by or via the bank in order to accept credit card orders from customers. Funds are collected by a bank from credit card purchasers and disbursed to the merchant. The merchant account is a way of linking credit card order to you and vice versa.

What is merchant account processing?
Merchant account processing services are provided by a bank or a third party processor on behalf of a bank (e.g NetBanx) to the merchant. These services include authorization of credit cards, settlement of funds through the bankcard associations (MasterCard, American Express, Visa etc), depositing of funds to checking accounts, merchant billing, and account activity reporting.

How do you qualify?
Banks will issue merchant account based on many resaons, the most important to them being the likelyhood of fraud or chargebacks in relation to your type of business. A chargeback is a reversal against a sale that was credited to the merchant's account. Chargebacks are usually the result of an error made by the cardholder's bank, a misunderstanding by the customer, or fraud. The merchant must provide proof that the goods and services in question were provided to the customer. In these cases you are usually the looser. Then bank will take the money back from you and you will have to prove your case to get the moneis back.

Banks like Card Holder present transactions, however with the Internet this is not only unlikely but in most cases impossible.

Banks will also check the credit history of you and your company.

If you have previously taken credit card orders, or currently take credit card order you are more likely to be supported by your bank. Therefore it is often the case of having a sound business behind your e-commerce business first.

Ive read enough how do I get started?




CARPE DIEM HOSTING

Please take some time to explore our other site and discover how we are dedicated to providing the best in hosting and server management.

Visit www.cd-hosting.co.uk



Solutions & Services for:
Web Development - Website Design - Hosting - Wireless Communications - 3G - E-Commerce - Domain Names - Software - Marketing - SMS Marketing and Solutions - Sports Industry Specialists - Anti Virus and Content Filtering - Lease Lines - Dial Up Accounts.