|
|
|
|
Visit Free Cash Grants MegaSite 888 384 9608 Grants
Do You Need A Merchant Account?
Deciding when to get your own merchant account for internet sales can be a confusing and expensive venture. If you have a small to medium sized business and only sell a small amount of products then having your own merchant account may not be the answer for you. Some of the costs involved include. Monthly fees. Anywhere between $25-$50 for statements and minimum fees. Per transaction and charges fees. Usually between 2%-3.5 % in fees and .30-.50 per transaction. Gateway fees. $10-$30 per month SSL certificate. Can be as much as $250 Shopping cart fee or software purchase. Monthly can range $20-$70 and software purchase can be as much as $1400. In addition to the cost is the technical aspect of setting up your site to use a shopping cart and real-time processing. Not all gateways, merchant accounts and shopping carts play well together. You must make sure that each can work with each other. Plus be prepared to properly set up your web server to use all this nice technical information the accounts give you. Now, if you are a larger business or do a lot of sales each month perhaps your own merchant account is the answer for you. It can save you money in the long run. But if you are just starting out with an online business, then a third party merchant may be the answer for you. Third party merchants handle all the background details, pay the monthly fees, assume the risks of fraud and charge backs, and handle all the secure shopping your customers will expect when shopping online. While the monthly fees may be a bit higher, there usually isn't a set up charge, gateway fees, SSL charges and shopping cart set up. Depending on the service you choose, they can give you simple HTML code to add to your site or allow you to use "buy buttons" or both. Fees range anywhere from 5% to 13.5%. Some companies charge a set up fee and a per transaction fee. Then there is always Paypal. A useful service for new comers to the online payment arena but it has its drawbacks. With Paypal: Your customer must set up an account with them They can FREEZE your account They can set limits on monthly transactions I suggest you explore all your options and decide what is best for you financially and technically. A little research online can save you money and time in the long run. About The Author Jim Hoffman is the co-founder of Inet Goodies. An internet resource group, focusing on SEO, Hosting, Billing solutions and Traffic.
|
|
|
|
RELATED ARTICLES
The Five Steps of E-Commerce You set up a retail business, you advertise in your local newspaper, you get customers coming into your store, and you receive payment at the cash register. Create an online store, and...how do you get customers? How do you receive payment? Shopping Cart Usability Usable Shopping Carts Increase Sales How to Start a Business on the Internet So you want to start a business? Good for you. Really, I mean that sincerely. I think about the millions of people that let the thought pass briefly through their minds on he way to work everyday. The Webmasters Assistant There are many tools available to a webmaster to analyse website traffic allowing them to monitor the number of visitors, see what pages have been accessed and even the length of time each visitors spends accessing the website. Does Your Shopping Cart Have a Squeaky Wheel? Have you ever gone grocery shopping just before a holiday? The aisles are packed with people pushing carts, shelves need restocked, all the checkout lanes have long lines...not a fun experience. Increasing E-commerce Website Sales With consumers purchasing billions of dollars of merchandise online each and every year, the Internet has become the key to financial security. The e-commerce business has consistently thrived well above all other online enterprises, and continues to flourish. Because of this encouraging surge in activity, many individuals are now interested in becoming e-commerce merchants. To profit from your online business, you must first produce a unique website that will intrigue visitors and interest them in your items. Is ECommerce Right for Our Business? If your business features products or services for sale, undoubtedly the topic of eCommerce has come up. What is eCommerce? Literally defined as "the conduct of financial transactions by electronic means," it refers to purchases made over the Internet. There are popular slang terms such as ebusiness, click and mortar, dotcom, cyber-mall and multiple spellings (eCommerce, e-commerce, E-Commerce), but they are all basically the same thing. Don't let the different phrases confuse you, it all comes back to the same principle: selling online. How To Start An Internet Business ? Content, Content, Content When it comes to e-commerce, the time-tested cliché is, "Content is king." In this case, the cliché is correct. Ecommerce Marketing Plan Concept of Service Keep Your Customers Happy by Organizing Your Payment Options Anyone using a slow, or an awkward payment processor had better wake up! Accepting Credit Cards For Your Online Business Did you know that one of the best ways to increase sales for any online or offline business is to offer your customers the convenience of paying by credit card? As a merchant, you have several options available when it comes to becoming part of the credit card acceptance and processing chain. Here's a quick guide to get you thinking. Excuse Me, Are You Wasting Traffic? The largest cost and concern of an internet business is customer acquisition; traffic. Both quantity and quality of traffic directly determines the succes of an internet business. By the fundamental nature of traffic to an online business,one cannot afford to waste it. Electronic Commerce and WTO The Internet may not be useful for all businesses, nor do all have to develop an Internet information strategy. Some businesses are concerned with the start-up costs of connecting such as purchasing hardware and software, subscribing to an Internet connection or service provider, and training staff. Others are concerned with the necessary search and navigation skills one has to develop to be able to use it as a cost effective business tool. Some businesses are concerned that, as a result of technical congestion during certain times, the Internet will not effectively improve their ability to disseminate and retrieve information. Most businesses are concerned about Internet security relating to issues of unwanted intrusions into sensitive databases, electronic payments, contracting with authorized parties and protection from electronic viruses. Are You Making These E-Commerce Excuses? (part 2) Last time, we started to take a look at the most common reasons why most people don't make progress on their e-commerce and Internet marketing goals. Today, we continue the discussion. [See part 1 of this article at http://www.ecommercediva.com/articles/excuses2.html] Alternative E-Commerce Solutions Over the past several years, the Internet has emerged as a breakthrough technology that has and will continue to transform the way we live and communicate, and especially the way we do business. Shopping Online: What You Should Know For some people, shopping online is as normal as driving a car. It's become part of the norm. For others, the prospect of making internet purchases is a scary one. Here are a few tips to make your online shopping experience more rewarding. Dont Get Ripped Off Getting A Merchant Account Far too many people get ripped off when setting up a merchant account for their online business. The biggest reason is that they don't understand their options and are intimidated by the whole process. Now, armed with the proper knowledge, you don't need to become a victim of this process. Products for a Successful Web Business There are F words in business. We have seen many small businesses on the internet flourish and fulfil their dream, but sadly we have seen some flounder and fail because they had the wrong product. How To Eliminate Credit Card Refunds From Digital Thieves Can you encounter the number of times where a Credit Card Sale was generated, only to receive a "Refund Notification" from your contracted e-commerce processor on behalf the "customer"? Doing Business Online ? Private B2B Exchanges Business processes are the building blocks of an enterprise. If one of these processes fails to live up to its expectation, business starts to flounder. How to minimize the risks, get a better monitoring of the processes and, at the same time, reduce costs involved? The answer is ? business process automation.
|
| home | site map College Scholarships |
| © 2006 |