- What is a
merchant account? Why do I need one?
- How does it
work?
- How do I get a
merchant account?
- Would it be
easier to go to my local bank to get a merchant account?
- How long does
it take to get a merchant account?
- Which credit
cards can I accept?
- What kind of
equipment do I need to process credit cards?
- How do I know
that I'm getting a "good deal"?
- Can I use my
merchant account to accept credit card payment in my
online store? Is it safe to process credit cards over the
Internet?
- The fraud
protection features sound great, but what about other
features?
- What kind of
payment solutions are available through Cardservice?
- Internet
technology changes so fast, will I be able to use my
merchant account with my Internet store in the future??
1.
What is a merchant account? Why do I need one?
A merchant account gives a business the ability to accept credit cards as
payment for the company's goods and services. This provides your customers
with an extremely popular payment option, beyond cash and checks.
Studies have shown that merchants can typically increase their business by
30 - 70% or more - sometimes even hundreds of percent! Plus, customers are
more willing to purchase higher cost goods using a payment method that
offers them repayment flexibility. It is projected that by 2002, credit
card transactions will account for 98% of Internet sales, equaling $55.6
billion!
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2. How does it work?
The merchant account provider authorizes the credit card transfer from
your customer and deposits the funds for their purchases right into your
business checking account, typically within two business days.
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3. How do I get a merchant account?
Merchant accounts are available from some banks and other independent
providers such as Cardservice International. Cardservice is a leading
transaction service provider. Last year the company serviced over 125,000
merchants and processed over $8 billion in bankcard volume.
Cardservice International offers small-to-mid-sized business merchants a
variety of services including credit card, electronic check, Internet
transaction services, and more. Our company has an exceptional merchant
account program offer available to its clients through Cardservice. Just
click on the hotlink above for more information.
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4. Would it be easier to go to my local bank to get a
merchant account?
Many local banks do not set up merchant accounts, but have relationships
with companies like Cardservice International. Also, in addition to
offering outstanding programs, Cardservice International works with the
kinds of businesses that most banks consider risky and shy away from, such
as new businesses, Internet, phone and mail order businesses.
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5. How long does it take to get a merchant account?
Application approval and set-up can be completed in as little as 24 hours
through the special Cardservice program available to clients.
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6. Which credit cards can I accept?
The most popular credit cards - MasterCard, Visa and American Express.
Cardservice can also support all other major credit cards, including
Discover and Diners Club.
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7. What kind of equipment do I need to process credit
cards?
A computer terminal / PC with Internet access is used for Internet, mail
and telephone orders.
In the retail environment, a specialized terminal/printer designed to read
the magnetic strip on the back of the customer's credit card is used. This
can provide the customer with a paper receipt at the time of purchase.
An imprinter, which takes a physical copy of the customers credit card,
may also be used.
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8. How do I know that I'm getting a "good
deal"?
The Cardservice program offers an outstanding value across the board -
functionality, security, reporting, initial set-up and low residual costs.
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9. Can I use my merchant account to accept credit
card payment in my online store? Is it safe to process credit cards over
the Internet?
Yes, Cardservice International's Secure Socket Layer Application
Programming Interface (SSL API) offers Internet Service Providers an
encrypted connection to its Secure Payment Engine. By using the LinkPoint
Secure Payment Gateway technology, all Cardservice International merchants
receive fraud screening on each transaction and real-time reporting via
their Web browser.
For the merchant who wants to get online fast with a limited start-up
budget, Cardservice International is the best choice.
Using Cardservice International's SSL API, all orders and payment
information sent from the merchant's Web site will be encrypted using
industry standard RC4 1024-bit encryption with SSL Version 3. This
encrypted and secure data is routed to Cardservice International,
decrypted and processed. All processed information (Approved/Declined
transactions) is then re-encrypted and sent securely back to the Web site.
Once at the Web server, it is decrypted and displayed to the consumer.
Also, order confirmation e-mails are sent to the consumer and to the
merchant. The Cardservice International SSL API guarantees that the orders
and payment information generated by the merchant's Web site remains
totally secure.
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10. The fraud protection features sound great, but
what about other features?
Using the following e-commerce modules, Web customers will be able to
order products, pay for them and arrange for shipment all in real-time.
These modules include real-time:
- Fraud Protection
- Shipping
- Tax Calculation
- Business Reports
Merchants also have
the option of choosing auto-settlement or merchant settlement. Taking
advantage of the Cardservice International Business Reporting module
allows the merchant to view critical ordering and financial information
all from a single source - their Web browser. And, all of these modules
are included with your Cardservice merchant account.
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11. What kind of payment solutions are available
through Cardservice?
Three unique and user-friendly payment solutions are available to serve
the e-commerce needs of any merchant:
Virtual LinkPoint allows merchants to manually enter credit card
transactions on a PC through a secure connection to the Internet. Virtual
LinkPoint is the Internet equivalent of a point-of-sale (POS) terminal or
PC-based transaction software without the hardware/software and
maintenance expenses. Sales, returns, authorizations and real-time reports
are all provided by Virtual LinkPoint.
LinkPoint HTML is a simple, yet sophisticated product and
requires a little hands-on work by the merchant to use. It wraps around
the merchant's existing Web site, allowing shoppers to select and order
products and securely pay for them with a credit card. All the same
services provided by the Virtual LinkPoint are available with the
LinkPoint HTML.
12. Internet technology changes so fast, will I be
able to use my merchant account with my Internet store in the future?
Absolutely. As Cardservice upgrades its LinkPoint products in the future,
merchants will receive free upgrades to keep them on the cutting edge.
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