subject: Introducing Merchant Account [print this page] An expanded customer base for small business owners a merchant account can provide. Business owners are allowed to accept credit cards by the use of merchant accounts. For small business owners who operate websites for the businesses, a merchant account is almost a necessity to ensure customer activity. Small business owners can set up a merchant account with their bank in only a few steps. In order to be able to use the account and ensure that all customer transactions are safe, the small business owner has a few more steps to complete. Supplies That Are Needed:
Merchant account
Instructions:
Step 1: Choose the credit cards that you will accept with your merchant account. The credit card company takes a percentage of each transaction, bear in mind. To avoid excess fees from cards used less frequently, some merchants choose to accept only the types of credit cards that patrons use most often (i.e., Visa and MasterCard).
Step 2: For completing online transactions with your merchant account, add Secure Sockets Layer (SSL) to your website. So that the customer's credit card information is protected during the transaction, SSL provides encryption to websites. When you sign onto a website and notice that the URL changes from http to https, you are seeing a website with SSL encryption for transaction safety. In order to add SSL contact your website provider, your Internet Service Provider (ISP), or VeriSign.
Step 3: Add an order form to your website. You will need to add the order form that will enable customers to complete their transactions. Your hosting service should provide you with a form template.Step 4: Purchase access to payment processing software that links the completed transactions to your bank account, via your merchant account. Payment processing services companies such as VeriSign, Monetra, and VeriFone offer these services.Step 5: Feature to authorize payments. Authorizing payments protects you, the merchant, from accepting credit card purchases from bad credit card accounts. Merchant account provider should be able to include an authorization service to your account. Authorize.net provides a credit card authorization service, if you prefer to look elsewhere. Tips and Warnings:
You will need to obtain an SSL Certificate that shows your website and the transactions that are completed on your website are safe. You can obtain an SSL certificate from VeriSign (even if you don't acquire the SSL from that service).
