"How
To Accept Credit Cards
On The Internet"
You
may not need a merchant account.
See why at the end of this page...
These
three are all you need
You need three
things to process and manage transactions over the
Internet:
- a payment
system,
- a credit card
merchant account,
- and a computer
with an Internet connection and a Web browser.
Payment systems are
simply a means of letting you, the happy-go-lucky
surfer, plug in a credit card number and demographic
details. Name, address, and eye color. Along with a
thumb print.
Sure, the electronic
thumb print thing is fast becoming a reality. It's
all about security, right? Right!
Here's how you might
approach this mysterious affair:
- You decide to
make your purchase, so you sneak up to the order
form, warily, wondering if the goods will indeed
be delivered.
- You enter your
vitals. Then you dance around the "Process
Order" button, having second thoughts.
Fingers crossed.
- You decide,
finally, "Oh whatever. It's only
money." And you press the button
expecting... what, exactly? Does anyone tell you?
Does this really work? Will I be ripped off? Am I
scam bait?
Here's what happens
when you press the submit button.
Just like the machine at
the bank, the gas station, the grocery store, or the
ATM machines spread all over hill and dale, your
vital data is being sent to yet another computer for
validation and processing.
No rocket science.
No magic. Just simple encryption at work. Just like
you giving your number over the phone to a live
operator, except your "voice" is completely
weirded out and totally blitzed into undecipherable
ness.
The numbers on your
card, along with your name, and the expiration date,
are compared with those at a credit card merchant
bank after they're decoded, and if everything
matches, and your account is current, and the
electron gods are with ye, the verifying computer
sends back a message...
"Congrats,
Newbie
Ned! Your card number is good.
We'll add that
purchase to your account."
Merchants
worry about you
But what about
security? Well, it's not the merchant you have to
worry about. And it's not the security of the
technology. It's almost always the other way around--the merchants worry about you!
Stolen cards,
stolen numbers, fake identity, you know the story.
You watch the news, read magazines, hear it on the
radio.
But dishonesty
aside, the credit card system works. Billions of
dollars exchange hands daily. And billions of
people get something new, and millions take that
something back for exchange, credit or refund every
day.
That's where honoring
your guarantee comes in!
Your
merchandise is ready for pickup
Alright, you've seen
the verification process. You know you've been
charged. But how do you get your merchandise? In a
real store, it's obvious. On the Net, it's not quite
so clear. At least not at first.
Our system provides
you with immediate access to your merchandise as soon
as your card clears. That's called instant
gratification. No clunky password protection, no
fuss, no muss. Just a clean, immediate delivery
system thanks to the magic of programming. That's why
our programmers can ask for the big money and they
get it. They make this stuff happen! Without them,
well, you know how to finish the sentence.
So now you've got
your merchandise. You've downloaded it to your
computer, or it arrives on a CD-ROM. What else do you
get?
Safety
and Privacy are our top concerns
You receive a
confirmation follow-up e-mail with contact
information in case there's a problem, concern, or
you just want to praise the guys and gals who created
that awesome e-book, computer program, or
what-have-you. When you deal with us, you get phone
numbers and addresses, too. Real people concerned
about your safety and well-being.
And concerned with
the power of word of mouth advertising, too!
Your credit card is
hit with the charge you agreed to. In our case, you'd
see Roglan International as the company
creating the charge. That's Joe Robson and Tom
Glander, working together to take the mystery out of
technology and the Net.
"But, Techie
Ted, how do I get my merchant account?" Now
there's a good question! It can be tough. And it can
really cost you if you don't watch out. Without
naming names, we're going to present the top 3
pitfalls to avoid in your search for a merchant
account.
And just below, what
to do if you can't get a merchant account (you
may not really need one).
Top
Three Pitfalls
One: Watch out for the hidden charges.
"Only $125 gets you an account. Nobody turned
down." What they don't tell you up front is that
you pay $50 a month on top of the discount rate. The
discount rate is the fee you are charged, as a
percentage, to use the merchant bank's account. It
will range from 2% to as high as 16%. If you sell
something for a hundred bucks, sixteen dollars is
gone. Poof! It adds up fast.
Two: Watch out for annual fees. I
came across one site that looked fantastic. Everyone
accepted. Nobody rejected. "Ya'll come on
in!" But as I dug, I discovered the small print:
"$500 annual fee." No thanks.
Three: Watch out for hang time.
That's what I call the length of time it takes to get
your money. Normally, the process shouldn't take more
than 48 hours from credit card verification and
approval to deposit in your bank. Some places will
hold your money until you've reached a set point,
then they make the deposit.
Only three points.
But worth paying close attention to.
Please
fill out this application
You'll have to fill
out an application. You'll be asked for supportive
data on your business. Papers. Proof. And then
there's the credit check. If you don't have good
credit, you can expect to "pay through the
nose" for the privilege of using a merchant
bank. And yes, it is a privilege!
To recap: Use a
payment system, such as AuthorizeNet.com. Apply for a
merchant account. Start at your local bank and ask
questions. Work with people you know, and who know
you.
Finally, you've
already got the last ingredient. You're using it
right now to view this page. A computer, a browser,
and a connection to the Net.
What
about foreign accounts (non-US)?
"Yeah, yeah, Tom, that's
fine for you Yanks, but what about us Foreigners?
We've got problems with U.S. banks, so how does this
apply to us?" And what if I don't really need a
merchant account at all? How does that work?
Glad you asked.
There's actually another option available. You may
not need a merchant account at all. Depends on
how much volume you do, and how important it is for
your company to control all aspects of its business.
Why
you may not need your own merchant account
You don't actually
need a merchant account if you're not doing a lot of
volume in sales, and don't mind another company's
name being attached to your sale. You can use what's
called a third party credit card processor. Here's
the quote from nomerchantacct.com:
|
"A
'third party credit card processor' is, in this
case, a company that can accept credit card
orders on behalf of you or your company. This
makes obtaining a merchant account for your
company unnecessary, although it could be
worthwhile if you sell enough goods to warrant
the expense involved." |
|
Nomerchantacct.com
will pretty much set the record straight as it
applies to scams. Heads up, friends! The Net is
fantastic place to be, as long as you don't get
snookered by the flim-flam man.
Pay a visit to the
excellent site at nomerchantacct.com.
They recommend Shareit, a great German company that
will help, no matter where you live. And I don't make
a dime recommending them!
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