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Basics to Know about Merchant Accounts

I'm confused about all of the claims of Merchant Account Vendors, and the

         

MarkT

5:57 am on Aug 14, 2003 (gmt 0)

10+ Year Member



I have done quite a bit of looking at Credit Card Merchant Accounts.

They all appear to be the same, except for the % rates and $Transaction fees, gateway fees, etc.. Most toute a heafty setup fee, but let you know when you <Whewww> that that could be waived, "If you purchase Now". <Grin>

I have read that some Merchants only Authorize a card, and then Some actually Process the Payment Immediatly. What are the terms that are used here. Either they all say immediate, or I am not reading between the lines.

All claim to have fraud prevention, but I again see some companies that have Special Fraud protection for an additional percentages. Can someone explain a bit about the fraud. I read somewhere that Online fraud is up in the 15% bracket. I am going to be shipping Overseas, and I don't want to eat 15% shipping costs, "Both Ways". What can I do to cut down on the Charge backs, fraud?

Can anybody tell me what I should look, and look out for? I would really rather learn by someone elses experience. It could be an expensive lesson if I take it on alone.

We could be processing 300 or so orders/week at roughly $75.00 and above.

Thank you for any input you can provide.

MarkT.

cfx211

6:44 am on Aug 14, 2003 (gmt 0)

10+ Year Member



This has been covered on here several times before and there are some good threads to be found if you do a site search.

That being said, you want to signup for your account/gateway as a package and do it through a bank that is acting as a reseller of the gateway service. This will save you money and hassles. For instance going through Wells Fargo for an Authorize.net gateway is cheaper than going through Authorize because Wells is hoping to make the money back as in merchant account banking fees.

As someone going through the setup process now, my advice is to do a lot of reading and rereading and eventually it will start to come clear.

Longhaired Genius

9:09 am on Aug 14, 2003 (gmt 0)

10+ Year Member



Here's a thread on this topic I found interesting: [webmasterworld.com...]

MarkT

4:56 pm on Aug 14, 2003 (gmt 0)

10+ Year Member



I found another thread or two also with your previous link.
Still have a few questions, but let me read a bit more, and see if I can limit it to just a bit of clarificaiton.

BTW, I like this board!
You guys are great!

What software is this board running, if you don't mind the ask?