Merchant Account Service Providers

A merchant account simply enables a merchant to run credit card transactions directly through his chosen account. The most commonly used methods of accepting such cards are by credit card terminals, Computer processing softwares, internet virtual terminal or simply by phone. A merchant account is basically provided by any financial institution that may be a bank or any other similar institution that enables you to accept credit cards. Merchant accounts can also be found over the internet, but many people do not find it a secure means of transferring payments over the internet. There are a lot of companies out there whose repute is not good in the market… so some thing should be made sure before signing any agreements.. Avoid falling into hype and technical terms that you haven’t heard before, that might be a very tricky thing, but if u want to stay safe then you have to stay away from these companies, otherwise you will risk losing a lot, be sure about one other thing i.e. no company demands more than a $ 100 processing fee. So if it’s more than that, be sure that the company is a fraud and you might risk losing business if you carry on transactions with that company. The account provider provides you with the necessary equipment to carry out transactions. If you don’t feel like buying their equipment or if they are charging you more than your budget than there are whole a lot of options that you can count on... all service providers have some application fee that usually varies from $ 50-$ 99, some companies collect it as an application fee while others collect it via their equipment sales, software or the transaction costs. Online payment providers or e-payment providers have started playing a huge role in today’s paying systems.

There are a lot of companies out there who are offering e-payment solutions.. E.g. Paypal, Perpetualpayments.com, charitymerchantaccount.com, etc. These are the most commonly used companies when it comes to online payment and they have established a good repute throughout the world. Another really good service is Google Checkout which is offering free services for merchants till 31st Dec, 2007. After that it will be charging merchants at 2 % plus $0.2 per transaction. Earlier in there were a lot of speculation that Google was launching this service in order to compete with another company i.e. PayPal. however if we compare the services being offered and the overall scope, we can see that Google checkout is offering very little services, and can’t be used to make payments from person to person. It was made available in the U.S on 28th of June, 2006… while in the UK, it was launched on April 13th 2007!