How Do I Accept Credit Cards on my Web Site?
There are 3 basic steps necessary to set it up:
1. Establish a credit card merchant account with your bank.
2. Create a method by which to collect orders and credit card information using a shopping cart application on your Website.
3. Set-up a Secure Socket Layer (SSL) Encryption on your server to provide your customers a secure method to transmit their credit card and ordering information.
What is a credit card merchant account?
A credit card merchant account allows your business to accept credit cards for payment of goods and services. A customer provides his or her credit card number when you make a sale. You submit the credit card number, expiration date and amount of the sale to your merchant account provider (typically a bank). Within 3-5 days the funds are electronically deposited into your business bank account.
How do I obtain a credit card merchant account?
Most banks and financial institutions offer merchant account services. Check with your current bank and ask for an application. There are also companies that specialize in providing merchant account services in addition to the lease and sale of credit card terminals, processing software, etc. These companies are listed in abundance in the phone book or via a search on the web for "merchant account providers". One such provider is Card Services International at http://www.cardservice.com. Fees can vary greatly amongst merchant account providers, so you will want to do some comparison shopping before choosing a merchant account provider.
What is 'real-time' credit card processing?
Real-time credit card processing allows your web order pages to immediately submit your customer's credit card information via the Internet to your merchant account bank for authorization. Real-time authorization is useful if you anticipate a large volume of online transactions or wish to provide your customer with immediate access to your product or service. Example: Selling a piece of software that a customer can download immediately after their credit card has been authorized in 'Real time'. Real-time credit card processing functionality can involve additional costs beyond standard processing which include: additional service fees from your merchant account provider bank, additional software requirements for real-time processing, customized ordering pages created for your web site and/or web server payment gateway software configuration and setup. Some careful research and planning is recommended before launching a Real-time payment system on your web site to determine the total costs and your expected return on investment.
How do I collect orders on my web site?
The most common methods are using a simple online order form, or a shopping cart system with an order form. Once your customer completes your online order form the order can be delivered to you via email, saved to a text file or saved to a database file on your web site for you to retrieve. Upon receipt of your customer's order you can submit their credit card and payment information to your merchant account provider and deliver your product or service.