Pay Per Click
need a merchant account? If so, choosing the
right merchant account provider is one of the most critical business
decisions you will make.
Don't be misled by just a single item of low fees. It is important to
add up all the fees and charges before you make a final decision. A
merchant provider that offers a low discount rate may look to make money
elsewhere, from inflated application fees to statement fees.
The right choice for you will depend on several
Certain types of
businesses are sometimes considered high risk: infomercials, seminar
sales, online jewelry, MLM, TelCom, travel, adult or casino sites, as well as international
merchant accounts and online merchant accounts. These accounts can
be more difficult to obtain from standard banks. For merchants who want
more flexible opportunities than those offered by Paypal or other
similar services, who find it difficult to get set up with a traditional
merchant account provider, you may need to consider an offshore
provider, or one who specializes in hard to place or high risk
- Are you selling online or offline?
Online and mail-order merchants can expect to pay a premium because
credit card fraud is more common on the Web than in a retail store.
- How high is your sales volume?
The initial costs of opening your own merchant account is usually
higher than when you use a third party merchant services. If you only
make an occasional credit card sale,
or other 3rd party services may be a more practical choice. PayPal
continues to expand their services and is the easiest choice for many.
- What types of products are you offering?
If they are large and expensive, perhaps you ought to choose a
merchant account provider that offers a higher flat-rate transaction
fee and minimizes the discount rate. The opposite is true if you rely
on small, high-volume sales.
- Are you considered a "high risk"
Understand the provider's fee schedules
Make sure to figure out what kind of fees and charges your provider
collect and what they will cost you. It is important to understand there
are monthly fees as well as set-up fees. When looking for a provider, try
to balance the discount rate and per-transaction fee with your needs.
In particular, look for the following fees and rates:
- discount rate
- application processing fee
- setup fee
- monthly limits
Important things to consider:
- Did you understand the fees and rate policies?
- What is included in the setup fee and standard service?
- How much is this going to cost, and what is the fee structure?
- What is the performance and reliability of the service?
- What kind of support will you receive?
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