Merchant Service Provider (Acceping Credit Cards) HELP!?
Aug 01, 2009
in
Credit Card Processing Questions
Currently, our website is a customer of authorize.net. We pay authorize.net 20 dollars a month for their gateway. They told us we also require a merchant services account in order to process credit cards via our website.
Where can I get a merchant service account or a package that includes authorize.net at the cheapest price?! We tried quite a few banks but authorize.net and the banks come to more than 45$ per month!
Thank you.
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2 comments
debijs on August 1, 2009 at 4:43 pm
~~The lowest price you will find for credit card processing is through Costco’s service. You can log onto http://www.costco.com and read there prices. They vary on how you accept cards i.e., POS or by phone etc. No one has ever beat them as far as I have ever found. If you don’t have a membership it is worth getting one for this service and many other business related services and needs.~~
helpmerchants on August 1, 2009 at 4:43 pm
If you already have a gateway, all you need is a merchant account. You have a few options.
1. Go to your bank. - All banks outsource their customers to a Merchant Service Provider. Since a business checking account is the 1st step in getting a business started, most banks take advantage of this.
2. Get a 3rd party processor. - This is another way of saying that your cards will be run by a seperate company that runs your customers cards through their merchant account. Paypal is a 3rd party processor.
3. Find a MSP. - Go straight to the source. Opening a merchant account is a very simple task only requiring that you have a valid business checking account and business license. If you are a sole proprietor / owner of a business, you may even be able to deposit the funds into your personal account.
Each merchant account is different and the best decision you could make is to get set-up correctly with everything from the start.
Let us know if you need help…