For a number of e-Businesses, discovering the best way to accept payments is a frustrating task. As the Internet is an instant medium, it is highly recommended that a ecommerce website must accept credit/debit cards and online checks as modes of payment. In order to accept credit card transactions, you require setting up a merchant account with a merchant bank. As soon as you set up a merchant account, an online processor can provide you with the software or gateway you need to transact.
Selecting a suitable merchant account is considered to be one of the most tough business decisions you make as their existence has almost doubled and are now into more than hundreds. At the time of choosing a merchant account, you should be aware of the cost involved in setting up the account. Refer to the list below and dont forget to ask about each of these items before agreeing to an account.
Application Fee
The application fee is compulsory so an agent or bank can “research” you as a potential customer. Few firms are more likely to repay this fee if your application is not accepted while others won’t. It is always advisable not to pay an application...
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