Online Merchant Accounts

dasha101 · 03-24-2007

Merchant accounts for online business have greater risks compared to offline. Since you don't have the actual credit card to scan it is hard to determine if the person you're transacting with is the real owner of the card.

As far as applying for a merchant account is concerned, what is the difference when applying for an online merchant account to ordinary merchant account?

chargebacks · 03-24-2007

Well, you are talking about the difference between retail and ecommerce. Getting a retail merchant account is very easy, typically a 99.99% approval rating on average, whereas ecommerce is typically a 90% to 98% approval rate, depending on the product, history of the business and history of the site owners.

qaswer · 03-25-2007

Quote:

Originally Posted by chargebacks

Well, you are talking about the difference between retail and ecommerce. Getting a retail merchant account is very easy, typically a 99.99% approval rating on average, whereas ecommerce is typically a 90% to 98% approval rate, depending on the product, history of the business and history of the site owners.

I think getting e-commerce is more difficult than normal merchant accounts because there is more vulnerability and frauds involved .

**onlineexperts** · 03-29-2007

Applying for an online merchant account is surely difficult, those in charge should find out and determine whether the owner can support his company and if he is really legitimate. There many cons for being an online merchant and there are much more scams that can happen online compared to retail.

Formpay · 06-16-2007

Actually signing up for an internet or retail merchant account is very easy and quick to do. In the past it was more difficult, However now almost anyone can get a merchant account.

Most merchant services providers don't even require to have a registered business anymore, any one can sign up under their own name as a sole proprietor.

Basically if you meet the fallowing requirements, your approved:
- Must be a US Citizen
- Must have a Valid U.S. Bank Account
- Must be 18 years of age.

You have a better chance of obtaining a merchant account than you do a credit card. For example our company approves nearly 99.6% of all merchants who sign up. The only merchants who don't get approved are merchants who are in a high risk business or have been terminated by Visa/MC.

mtajim · 07-19-2007

Normal merchant account is easier to get but , e-commerce merchant account is somewhat harder . You have to show that you are actually selling things and have not just created a site to do fraud.

scoopy301 · 09-26-2007

A lot of fraud cases of using the number of other person's credit card are reported and credit card companies are adopting new methods of security to stop that

maddy · 11-05-2007

In case of opening a merchant account online, you cannot directly meet your customers and that is the bad part of the game but cannot be avoided

manivbala · 11-06-2007

Hi, I am from India, I want to open a merchant account for my e-business. What is the minimum cost and which provider is best in India?

03-24-2007	#1 (permalink)
dasha101 Senior Member Join Date: Feb 2007 Posts: 184 Rep Power: 2	Online Merchant Accounts Merchant accounts for online business have greater risks compared to offline. Since you don't have the actual credit card to scan it is hard to determine if the person you're transacting with is the real owner of the card. As far as applying for a merchant account is concerned, what is the difference when applying for an online merchant account to ordinary merchant account?

06-16-2007	#5 (permalink)
Formpay Junior Member Join Date: Jun 2007 Posts: 13 Rep Power: 0	Actually signing up for an internet or retail merchant account is very easy and quick to do. In the past it was more difficult, However now almost anyone can get a merchant account. Most merchant services providers don't even require to have a registered business anymore, any one can sign up under their own name as a sole proprietor. Basically if you meet the fallowing requirements, your approved: - Must be a US Citizen - Must have a Valid U.S. Bank Account - Must be 18 years of age. You have a better chance of obtaining a merchant account than you do a credit card. For example our company approves nearly 99.6% of all merchants who sign up. The only merchants who don't get approved are merchants who are in a high risk business or have been terminated by Visa/MC. __________________ Merchant Accounts Internet Discount Rate: 1.79% Retail Discount Rate: 1.29%

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03-24-2007	#2 (permalink)
chargebacks Administrator Join Date: Feb 2007 Posts: 220 Rep Power: 10	Well, you are talking about the difference between retail and ecommerce. Getting a retail merchant account is very easy, typically a 99.99% approval rating on average, whereas ecommerce is typically a 90% to 98% approval rate, depending on the product, history of the business and history of the site owners.

03-29-2007	#4 (permalink)
onlineexperts Banned Join Date: Mar 2007 Posts: 111 Rep Power: 0	Applying for an online merchant account is surely difficult, those in charge should find out and determine whether the owner can support his company and if he is really legitimate. There many cons for being an online merchant and there are much more scams that can happen online compared to retail.

07-19-2007	#6 (permalink)
mtajim Junior Member Join Date: Jul 2007 Posts: 21 Rep Power: 0	Normal merchant account is easier to get but , e-commerce merchant account is somewhat harder . You have to show that you are actually selling things and have not just created a site to do fraud.

09-26-2007	#7 (permalink)
scoopy301 Member Join Date: Sep 2007 Posts: 50 Rep Power: 1	A lot of fraud cases of using the number of other person's credit card are reported and credit card companies are adopting new methods of security to stop that

11-05-2007	#8 (permalink)
maddy Member Join Date: Nov 2007 Posts: 50 Rep Power: 1	In case of opening a merchant account online, you cannot directly meet your customers and that is the bad part of the game but cannot be avoided

11-06-2007	#9 (permalink)
manivbala Junior Member Join Date: Nov 2007 Location: India Posts: 10 Rep Power: 0	Hi, I am from India, I want to open a merchant account for my e-business. What is the minimum cost and which provider is best in India?

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