High Volume Merchant Accounts

Best ways to ramp up

[mfishy]

Been a while since I did any ecommerce so I was a bit surprised to find out most of the CC processors still appear to make you start out at a really low monthly minimum for a new business/site. They claim to allow you to grow as you establish a history.

Are there companies that allow you to deposit money to cover charges at first? Should I open multiple accounts? I was literally being quoted like $30,000 monthly limits which won't work at all.

I realize we don't promote specific companies here but if anyone has any suggestions on what one should be looking for to set up a new eccomerce site that can take volume it would be greatly appreciated :)

[paladin]

I know of one that works with the higher volume merchants like what you are describing. PM me your contact details and I can have them contact you.

[sun818]

If you are high volume low dollar merchant, I've heard that the transaction fee makes a bigger difference than the processing rate. So, I would look at your figures carefully and run them against your past transaction history.

Paypal also has a merchant-account like service called "Direct Payment API" which gives you an online Virtual Terminal. Many shopping carts integrate Direct Payment API with Paypal Express Checkout to give turnkey solution. The processing rates are the same across all major credit cards (e.g. Discover and AmEx is 2.9% to 1.9% instead of the usual higher rate). If you have a lot of customers that pay by Discover & AmEx, you'll save a lot more in fees than using a tranditional merchant account.

[Corey Bryant]

Most processors will allow you to process as much as you want. If you want $100,000, you need to have the papers / funds to back that amount.

-Corey