Alternative Online Merchant Accounts

Many people fined that opening a traditional merchant account is cumbersome. There are alternative methods of processing payments online. With these alternative accounts, some times per transaction rates are higher than traditional merchant accounts. But the ease of opening an account with alternative payment processors makes them popular with many online merchants. Account fees vary, depending on the acquirer. Fees and charges might include: an application fee, a minimum monthly fee, a monthly statement fee, a per-transaction fee, and all acquirers charge a discount rate, a percentage of the transaction.

Always check references of any company you conduct business with online or traditional merchant accounts, you will be required to give the company access to your checking account. Therefore, be sure you can trust the company! Research your choices before deciding on a processor. Rates and features of processors can greatly vary. Always check references before signing up to any payment processor!

To accept payment by credit card on the internet, you must have an internet merchant account with an acquiring institution. The acquirer authorizes the purchases made with the credit card and ensures that the funds are deposited into the merchant’s bank account. With a Verisign, SSL Certificate, you can create a secure channel to transmit credit card information from your site to the acquirer’s processing network, receive the results, and post them back to your sit. Your online payment processing provider also facilitates the settlement of funds from the cardholder to the acquiring institution.

Secure Socket Layer (SSL) is a protocol developed by Netscape in 1996 which quickly became the method of choice for securing data transmissions across the Internet. You are required to complete a simple 3 step enrollment process to purchase a certificate and will need to provide certain contact and company information to complete enrollment.

When you install SSL Certificate on your server, your customers will be able to view the following information:

The Fully Qualified Domain Name (FQDN) for which the certificate was issued. This allows them to check that the certificate was issued for your domain (URL).

The validity dates of the certificate. This is extremely important, since it shows users when your SSL Certificate was issued as well as when it will expire.

When customers access your web server through an SSL connection, the information transmitted between the secured web server and your customer’s browser is encrypted. This ensures customer’s information is securely transmitted to and from your website. PayPal recently acquired VeriSign Payment Services and offers both an all-in-one Internet Merchant Account and payment gateway solution and the stand alone Payflow Payment Gateway solution.

One thought on “Alternative Online Merchant Accounts

  1. Anonymous

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