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Thread: How to manage an online merchant account

  1. #1
    kiberlain Guest

    Default How to manage an online merchant account

    When developing a home based business using the internet for sales of products or services, it would be to your advantage to learn how to use a online merchant account.
    The first step is to acquire a online merchant account so you need to have some knowledge how the system works.

    When looking at the different online merchant accounts available, compare prices that include the discount rates and the transaction fees. The discount rate includes a charge for the percentage of the volume of the sales. The transaction fees are a flat amount charged per transaction. Be aware that some online merchant account companies will try to persuade you to use them by having a lower discount rate but will make up the difference in a higher transaction fee.

    Your decision to be with an online merchant account company will be based on the volume of activity of sales from your business. If you have a large volume of sales, you will want to look for a company that has a lower discount rate and perhaps a higher transaction fee.If you can estimate that you will have a lower monthly volume, you will want to look for a company that has a lower transaction fee and a little higher discount rate.

    When you are ready to sign the contract with the merchant account company, take your time to read the contract carefully. Study the requirements for the length of the contract and for any hidden fees. See if the contract has any consideration for a review of the discount rate based on the volume improvement of your business. In the contract see if there is any consideration for discounts for a low risk business.

    It is helpful for you to look for a local online merchant account company. The advantage is to have easy access to your merchant account provider as they may be more attuned to giving you personal attention. Make certain that your business is ready for a merchant account and that you have the volume of sales to support it. You don't want to be facing monthly fees if you don't have the income stream available.

    There are many advantages to having a merchant account as the average household has several credit cards and some consumer seems to like to take advantage of this method of delayed payment.

    Hope that's helps!

    [URL=""]Emerchantpay - High risk merchant accounts processor[/URL]

  2. #2
    PayPalTerminator Guest


    In addition to what this guy is saying, also do a website search regarding the merchant processing company your thinking about using. Make sure they dont rip people off or have a history of stealing funds from sellers and not depositing them into your bank account.

    People who have been screwed by merchant processing companies, like BANK CARD USA AKA MAVERICK SYSTEMS, write complaints on boards and they are easily accessible online.

    Bank Card USA has a track history of approving people for merchant accounts, letting them operate for a few days, and then stealing people's money. They will reverse refunds to your customers purposely so they can steal the money, illegally charge you fees for things they havent done and make you look bad towards Discover and Amex. Stay clear away from aholes like Bank Card USA.

  3. #3
    Johnny Guest

    Cool Ebay Alternatives

    I was a successful ebay seller (and buyer) and was generally happy with them until this mandatory PayPal usage started. I have not and will not use PayPAL, and am looking for alternative auction sites. The site "" appears to be popular and I signed up. Well, Guess What? They want you to be "verified" and require a $5.00 payment through Guess Who? PayPAL of course! That did it; anyone thinking of using "", look closely, as it uses PayPAL! I am wondering if ebay is starting to buy out their competition???? It would be a good idea if this site devoted a section to ebay affiliates or ownership, such that we could avoid dealing with the "devil"!!!!

  4. #4
    freestuff125 Guest

    Default Great insight

    Hey thanks for the post, you brought up many different points of view that are important!

  5. #5
    caliecarter Guest


    Refunds are always a big headache and the more merchant accounts you have - which you should when you have multiple products - the bigger the headache you would experience. Most people maintain separate merchant accounts for different products which though simplifies the matter while asking for refund, it could become a nightmare when manned separately

    [URL=""]merchant services[/URL]


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