Anyone who currently operates or plans to start an online business must have a merchant account. According to studies done on online shopping, more than 90 percent of people who buy products and services online use credit cards, so clearly a business must have a merchant account to handle these transactions. There are a number of points you should keep in mind as you decide which account is best-suited for your business.

Basically, two kinds of online merchant accounts exist: real-time versions and those employing delayed processing. The less expensive option is the delayed processing account, rather than the real-time version, though such accounts necessitate the presence of an actual person to get involved in the transaction procedure, making this type of account suitable only for enterprises making fewer sales and those who are open to having heightened personal involvement in online sales.

With delayed processing services, buyers‘ credit card data is provided through the online shopping cart function. Though, instead of the transaction occurring right away, the information is saved until later, at which point someone must gather it up and enter it by hand in order to be processed.

Automated, real-time processing services offer greater convenience, though it certainly comes at a price. With real-time processing, the shopping cart function aggregates relevant information, which is then sent right away to the credit card company through a conduit called a gateway provider, which results in greater safety for online transactions.

After the card issuer accepts the sale, you’ll receive a copy of the virtual receipt from the card issuer who will then transfer the proper amount in payment of the debt to your merchant account provider.

Also, it’s common now for merchant account providers to use mobile account processing, which can handle sales anywhere by using wireless Internet connections to communicate via laptop computers, cell phones or other mobile devices.

Your website will also need to have a shopping cart system that can accept a range of information, from credit card numbers to other sales details. A gateway provider is also necessary if you’re going to go with a real-time account. In some cases, services like these can be offered by the merchant account; otherwise, you will have to look for a gateway provider. It’s also essential that software used by the provider you choose will be compatible with the software used by your merchant account provider.

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