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Getting started

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Before you can accept credit, either on the Web, or in the physical world, you will need to have a merchant account.

Two of the most common types of Merchant Accounts avaialable are:

  • Swiped card account, or a card present account. In this type of account the consumer and the merchant are physically at the same location at the time of the transaction. During a card present transaction, the credit card is generally swiped through a card reader and the consumer signs an authorization slip.

  • Mail Order/Telephone Order (MOTO) or card not present account. In a MOTO transaction the merchant and the shopper are not in the same physical location, and there is no card swipe or signature received. All Internet transactions are MOTO transactions and require a MOTO account.

If you are a merchant and currently accept credit cards, then you may already have one of the above accounts and are well on the way to getting your E-Commerce operations working for you.

But if you are just getting started, then you'll need a business account as well as a merchant account.

If you want to accept more than one type of credit card, you'll need to have more than one bank/merchant account to facilitate the processing of Visa, Mastercard, Amex, and Discover (the four major credit cards on the Web).

Various ways to accept payment over the Internet are:

  1. Credit cards
    Credit cards are still the most popular way for paying for goods and services on the 'Net. The more card types you can accept, the better your sales will be.
  2. Digital cash
  3. Micropayments
  4. Electronic cheques
  5. VirtualPIN
  6. Digital Wallets
  7. eCHARGE
    The eCHARGE system allows consumers to charge the cost of Web purchase to their normal telephone bills. It is currently only available to merchants in the US and Canada but expansion in to Europe is planned.

What's the next step?

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