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Internet Merchant Account
Information
(Everything
you need to know about Internet Merchant Accounts)
EcommProV6.5
now works with the Secure PayPal Payment
System.
(A
merchant account is no longer a requirement to processes credit
cards)
Reading
Time: 6 minutes
Authorize.Net is the
leading internet credit card processing gateway.
| What
does it take to get an Internet Merchant Account with Authorize.Net? |
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First
of all Authorize.Net does not issue accounts directly.
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You
must use a re-seller.
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Lots
of Companies offer Internet Merchant Accounts with Authorize.Net
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There
is usually a setup fee, monthly statement fee, monthly terminal fee
and a monthly minimum. This is normal. Statement and terminal fees
should be no more than $10.00/month each. The monthly minimum is
usually about $25.00. This means that they need to make $25.00 off
of processing your cards at 2.9% plus 30 cents per transaction
(processing fees vary).
Otherwise, you pay the $25.00.
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There
is also sometimes a lengthy contract involved were they want you to
sign up for 3 years. That means you are responsible for those monthly charges for three
years.
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We
have found the best Internet Merchant Account Provider for you.
(Below)
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No
Lengthy contract and you can quit at any time. (Read On)
| Requirements
for a Merchant Account |
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You
must have a legal business.
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You'll
need a voided check containing your business name (no starter checks).
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You
can't have bad credit.
What
is a Payment Gateway and how does it work with the Ecomm RTC?
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A
Payment Gateway is what your Ecomm Shopping Cart's script sends the
required credit
card and customer data to for approval and processing.
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The
Payment Gateway is hooked up with the credit card companies and banks.
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Your
Ecomm Shopping Cart collects all of the data needed for an order such as the items,
tax, totals, credit card, customer info and so on.
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Ecomm
carts utilize a direct response method using visual basic scripting and XML to send
and receive the required data.
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When
a customer places an order the following takes place:
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The
customer adds items to their cart and enters cc info at check
out.
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The
customer's web browser securely transmits the required data from
the web page to the web server's XML component.
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The
XML component on the web server sends the required data to the
Authorize.Net payment gateway using a secure POST
method and waits for the gateway response.
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Your
web server receives the response and returns it to the
customer's browser.
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The
process takes a few seconds to 1 minute or so depending upon
traffic.
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A
security certificate is required to be installed on your web server.
Contact your hosting company.
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The
response code is one of three things:
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Approved
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Declined
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Error
- Some info may be wrong such as card number or expiration date.
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Your
Ecomm Shopping Cart will continue placing the order only if
the response code is a 1.
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If
the response code is a 1, the customer's credit card has been
charged.
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The
order is finished. A receipt or purchase order is displayed to the
customer.
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If
the response code is a 2 or 3 the page stops and the order is not
placed.
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Your Ecomm Cart will display the
reason that the card was not approved.
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The
customer can click back and try again.
| Terminals/Virtual
Terminal |
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To
process credit cards and charge backs you need some type of TERMINAL.
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There
are many different types of terminals.
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Whatever you use to process
the transactions is your terminal.
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Some
different types of terminals are:
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With
a shopping cart and an Authorize.Net account you have two ways to
process credit cards.
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Your
Shopping Cart does it in Real Time or
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You
login to the Authorize.Net Virtual Terminal and make charges by
manually entering all of the order information into a web page
form.
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You need to
be able to manage the merchant account
and be able to do charge backs or credit your customer's account for
returns.
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When
you get an account with Authorize.Net you have all this and more
with the Virtual Terminal.
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You
simply login to your virtual terminal at the Authorize.Net web site.
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It
is secure and you have everything on a web page.
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You
can make charges/transactions, do charge backs, view all
transactions in history, check
the status of transactions, automatically bill customers for
recurring charges, or run a variety of reports right from the
Virtual Terminal. It's got everything you need to manage your Internet
Merchant Account and transactions.
Virtual Terminal is the ideal
solution for businesses of all sizes. It eliminates the complexity and
expense normally associated with manual terminal type credit card processing and is much
faster than standard dial-up authorization systems. Virtual Terminal allows
you to process and track your transactions.
Transactions are automatically settled each day or two and deposited
directly into your checking account.
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