Online Merchant Accounts

e-Commerce
An online merchant account is needed for (credit) card not present, internet transactions.

Important!!! Merchant Accounts - Brick & Mortar Business - If you are already accepting credit cards at a physical location and want to put your business online, you will need to talk to whoever handles your current merchant account and tell them your plans. Don't assume you can start selling online without first talking to them. To do so could risk your account being closed!

You probably know or have heard about shopping carts, gateways, secure servers, chargebacks, fraud screening, etc., etc. If you have never accepted credit cards over the internet before now, you may be confused as to what all is involved.

Where To Start
First you need to do some fact finding, learn what services are available, your liability and the risks involved. You need a basic understanding of how the system works for (accepting card not present) credit cards. After that, you will be prepared to make a wise decision about shopping carts, gateways, fraud screening, etc.

The cybershoplifters know how the system works, shouldn't you?

No one will dispute the fact that online fraud is on the rise. Did you know that you, as the merchant, will be 100% financially liable for any fraudulent use of a credit card through your online store?

 

Internet Fraud - Who Picks Up The Tab?
E-commerce fraud cost (USA) over 2.6 billion dollars during 2004, according to some statistics. The credit card companies advertise that if a card is lost or stolen the consumer is only liable for the first $50 of unauthorized use and in many cases they have no liability whatsoever!

So then, what happens when the customer calls their credit card issuing bank and reports an unauthorized charge??? If you answered that the bank takes the money back from the business that sold the item, then you are correct.

That is called a chargeback. So, what about the merchandise that was bought (the unauthorized charge) and shipped (the store filled the order and shipped the item)? It is gone, the store will not recover the merchandise PLUS, to add salt to the wound, the store is charged an additional fee for the chargeback!

 

Protect Your Business With Knowledge

You need to know how to identify a fraudulent transaction. Unfortunately too many business owners learn the hard way.

*Never assume that Address Verification Service alone is enough

Fortunately, there is a new course available that you can take online. We are very excited about it because it will inform and prepare you against the constant and increasing danger of credit card fraud.