ONLINE CREDIT CARDS - What are the Benfits?

• Accepting credit cards is PROVEN to increase sales by 200%-300% compared with asking customers just to send a check.

• Online credit cards are the fastest way to improve your business as up to 75% of online purchases are made on impulse. And customers spend up to 50% more when using online credit cards.

• Accepting credit cards builds credibility in the eyes of your customers as people assume only established companies accept cards.

• Online credit cards allow you to build repeat sales. Repeat customers are difficult to get if you do not accept online cards. And once these customers are lost to your competitors, it is almost impossible to get them back.

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What are Internet Merchant Accounts?

Internet merchant accounts are an account authorised by a merchant bank that allows a retail company to accept a credit card order from a customer and the money is deposited into the company's bank account.

If you want to accept online credit cards in your own company name, you will require an Internet Merchant Account.

Getting internet merchant accounts is more difficult than obtaining an offline merchant account because the card is not present nor is the signature obtained. If your business is small or just starting up, it becomes even more difficult.

What is a Third Party Credit Card Processor?

A third party credit card processor is a company that will accept online credit cards on behalf of you or your company. The payments your customers make are being processed through the third party's own merchant account, and you the retailer is paid(minus a commission fee) by the third party processor.

This allows you to sell online without the necessity of having your own merchant account. Your own e-commerce solution! Free internet merchant accounts to build your business.

Should I get my own Online Merchant Account or use a Third Party Credit Card Processor?

For most businesses this decision will be made according to the size of the company.

Most small businesses do NOT need their own online merchant account.

Small businesses are better off using a third party credit card processor. The advantage is that you sell your products and the the third party processor accepts credit card payment on your behalf. They check the card, process it and send you a monthly check.

Of course the third party processor makes its profit by charging a processing fee. Charges are usually a little more on a transaction in comparision to having your own online merchant account. Free Internet Merchant Accounts by another name! Ideal if you want to work at home.

Medium and large businesses need an Online Merchant Account

If you are a large online company, or a large offline company moving onto the Internet, you need your own merchant account. Not free internet merchant accounts.

You will pay a larger set-up fee for your own online merchant account, but then pay less per order. And so recoup the initial outlay.

Perhaps the best way to look at the situation is to view Third Party Processors as a stepping stone for your business.

When you start your business you should get a third party credit card processing account.Free online credit card accounts to make web payments easy!

If your business is a success, you can move on from free internet merchant accounts to a standard online merchant account. Paying a larger set-up fee but paying less per order.