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| By: Sha - at February 20, 2013 |
How to Accept Credit Card Payments Online For Your Website
 There are many ways to receive payments online via your blog or website.
Accepting credit card payments on your website is a great way to make money by
selling your freelance services selling products online from your online store.
In order to accept payments from your customers via credit cards you will need
to setup a merchant account. There are many merchant account providers that
offer merchant accounts to individuals who own a website or blog or business on
the Internet. There are other options available for you to receive payments by
selling products and service online. Other options are relatively a little
expensive when you are not accepting payments using your own merchant account.
Methods of Accepting Credit Card Payments
If you offer writing services online through your website you will need to
receive payments via a reliable medium. You can accept credit cards basically in
two ways on your website. The first method or option is using your own merchant
account and the other option is using a third party merchant such as PayPal,
Payza, Google Checkout, etc. If you choose to use your own merchant account you
will need to have a bank account in the first place and then the bank will need
to allow you to open a merchant account. Check with your local banks to find out
what their requirements are to allow you to open a merchant account. There are many third party merchants that will be willing to accept credit
card payments on behalf of you from your customers. They will charge various fees
depending on the amount of money being transacted. There might be other fees as
well, so check with the charges and fees if you want to use their services.
Advantages of Using Merchant Account to Accept Credit Cards Online
 The biggest advantage of accepting credit
card payments through your own
merchant account is the lower transaction fee than all other payment options
online. Your own merchant account will lower your transaction costs. Being able
to receive credit card payments online via your own merchant account will
enhance the image of your website or online store. You will experience quick
payments being made to your bank account. But there are disadvantages too. You
will have to pay for the initial costs of opening your own merchant account.
Also, as you will be processing the credit card payments yourself you should
take care so that you can minimize your credit card risks. There is usually a
monthly gateway statement and merchant statement fee. Besides, if you want to
terminate your contract then there are termination fees. It is good for you to
check with all the fees and charges before you sign up to a merchant account.
How to Setup a Merchant Account to Accept Credit Cards Online
There are hundreds of options available when it comes to setting up a merchant
account that will allow you to receive payments from your customers via your
blog or website. The merchant account is connected to your real bank account
through your website. In order to accept payment via credit cards online you
need to have a merchant account which is provided by many merchant account
providers. Each of these merchant account providers has their own set of rules
which can also vary from country to country. You will need to check which
merchant account providers have good track records, charge you less for each
transaction, easy to use, safe and secure to use etc. There are other things you
should consider such as hidden fees, standard processing rates, processing time
etc.
 Once you have decided on a reputable merchant account provider and signed up to
it, you will be able to put up a shopping cart or order form on your website or
online store. When any transaction will take place, your website will be
connected to your actual bank through a payment gateway which is usually setup
by your merchant account. Once the transaction is completed, the money will be
deposited to your bank account.
Conclusion
Credit card payments are a very popular option when it comes to accepting
payments online on your website selling your products or services. However, if
you do not have a large flow of monthly income from sales then accepting credit
card payments might be a bit costlier eventually considering the monthly fees
associated with your own merchant account. Before you open your own merchant
account make sure what benefits you will derive from it and what from a third
party merchant or payment gateway.
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