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Merchant Account Basics
A Merchant Account is a commercial bank account established by a merchant to receive payment via credit cards. Three parts are required to accept credit cards. Besides a merchant account, you need a local bank checking account to deposit funds and a processing solution Victor Mete Jersey Womens , such a terminal or web-based store front to take credit card payments. Online merchant account, or ecommerce merchant account, is a merchant account that can take credit orders on the Web.
Cost of Merchant Account
An online merchant account will boost your online sales, but merchant account incurs various types of cost. A merchant account usually requires a one-time setup fee between $50 - $100. Some merchant account providers waive the setup fee in promotion period or in conjunction with other services. Other costs include gateway fee, statement fee, annual fee Nate Thompson Jersey Womens , transaction fees and discount rate fees.