The process of setting up online payment may be confusing at first but the hard work is the choice of the correct service provider. In my search I to any outlets spoke, Bank, representative and I now have a collection of contracts with very small print. I've put together a summary of the process to ensure things and a comparison of prices. I hope this helps.
HOW IT WORKS: CREDIT CARD PAYMENT FLOW
Customer enters payment information on our secure Web site (aka shopping cart/checkout).
The payment details are sent for approval to the payment gateway.
Gateway routes the transaction to our Merchant Bank. Our merchant bank forwards the transaction to the credit card issuing bank to verify. Credit card bank check transaction and response code (approve, reject) sends back to our Merchant Bank.Our merchant bank forwards the response to the payment gateway.Payment gateway stores the results and the answer back the customer appears to our online Shop.Zahlungsinformationen; i.e. "Credit card was charged" "Credit card was denied", etc..
This process happens in a matter of seconds.
WHERE GET WE A DEALER ACCOUNT?
Banks. Most banks use first data Corporation network for credit card payment process. FDC network deletes some 80% of all credit card transactions.Merchant service providers (MSPs).
I refer to you as a seller in this Artikel.Vorteile of MSP to banks:
MSP have many Bank partners and third-party account database which mean higher approval rates (especially if your business is considered high risk).
MSP make recommendation on the best solutions or packages.Banks are options begrenzt.Bessere opportunities of negotiate rates and terms and conditions reduces providers as a bank.
What are the requirements?
Requirements vary by provider and the level of risk, you are ready to take.
Three suppliers told me, need a tax number or SS#, business current account and an address (which is not entirely correct).
I later found out that the provider sends our application the underwriter and the underwriter to request additional information for approval.
The most underwriters asks both the application and the site information as follow:
The applicant and business info:
Applicant must be a principal owner of the company.Business license (tax number) or DBA (SS#) Current accountAddressDriver's license and contact information of the principalAcceptance - for new companies, personal credit history is an influential element
On the website
A live Web site must be werden.Name of company or DBA name on the WebsiteZeigt product and price Leafletsgeneral shipping methods return/refund policy terms and conditions privacy policy contact information for support (email, form, etc.).Working shopping cart/check out page Ë secure
Alternative service providerAlternative payment services such as PayPal, Google Checkout and Amazon FPS are becoming more and more popular with new small businesses.These companies offer packages that fit most business model, they are easy to implement low cost, and you can get started almost immediately.
EVALUATION AND PRICES
Read the tiny printProviders use the same pool of financial institutions and gateways.It is a very competitive and lucrative market.Make money marks, fees and service charges.In my conversations with vendors only if asked a couple of times to repeat the additional costs indicate.A rep told me to read carefully the contract, but he not give to discuss the contract or prices with me until he has my application.
Different prices and fees to specific type of card (MC, Visa, AMEX, discover, personal, business and rewards card) applied appliance.the industry term for this is qualified vs. unqualified cards (unqualified with the higher regard prices of course) .Lesen you your contracts carefully, especially the footnotes.
Whats important?Thinking, the prices are not set, most companies can rate within 30 days ändern.finden offers a service provider with a good reputation, flexible policies, good customer service and 24 / 7 technical support is more important than the Gebühren.Ein is indicator of a good provider transparency in your company and when to ask detailed questions about your business.
The comparison of prices of WellsFargo USBank PayPal standard, Google Checkout, Amazon FPS, card service international, electronic transfer and Merchant Warehouse.Das show chart [http://www.tyemill.com/articles/wp-content/uploads/2008/12/articles_mspcomparison.png].
New business recommendationMake no difference for new a deal with unknown sales that can prices per transaction frühzeitig.Ich could go with PayPal or Google Checkout for a few months only to some information about sales to sammeln.Weil is up no start up costs, no monthly fees, an immediate sign and use process and low development time, there is very little risk and expenses Kosten.Die only downsides are that customers from your site will be redirected to while the transaction and the possible perception your volume is not as "professional".the is, until you understand the flexibility and convenience are the way to go.
Nancy Wu, Operations Manager
tyemill.com
Project management and team collaboration software
Note: to see a picture of this payment process, please follow the link below.
[http://www.tyemill.com/articles/wp-content/uploads/2008/12/msp_process.png]
No comments:
Post a Comment