Main Merchant is online

The site is a custom ASP.net site (not bound to any particular cart) and I’d like to integrate seamlessly without having to redirect the user to a page off of my site.

Selecting the perfect Payment Service Provider for your business can be time consuming.  Although paying transaction fees is inevitable, you might come across additional fees that can slowly eat up your profits.

Below are a number of tips to help you avoid any additional costs and save your business money with your UK merchant account.

1.  Avoid chargebacks

Chargebacks occur when a card issuer is asked by your customer to get a refund from you; apart from refunding the amount, other processing fees will also be charged.  The most common cause of a chargeback request is where the customer does not recognise your company’s name on their statement. You can negate this by ensuring that your trading name will be recognised by your customer by highlighting it on your checkout page, terms & conditions and confirmation pages.

2. Improve your after sales service

If you accept refunds, clearly state your refund policy and stick to it. Avoiding delays will save you money. It’s better to issue a refund and lose that sale than it is to deal not only with a lost sale but also additional chargeback fees.

3. Get cost effective settlement terms

Make sure your Payment Service Provider settles your funds in the most cost effective way for you. Many Internet Merchant Account providers will offer to settle your funds with a cheque but there is often an extra fee for this. Clarify your settlement terms and, if possible, set up a BACS transfer so that your funds go directly into your clearing account. This is usually the most economical way to have your funds released.

4. Get e-statements

If your monthly statements are sent to you by post, sign up for electronic statements if they are offered. Generally, Internet Merchant Account providers will charge you for posting your monthly statements (up to 10p a month).

By following these simple tips, you can avoid paying too much for your UK Internet Merchant Account.

Searching for a UK Internet Merchant Account provider can be a very long and frustrating process, and there are a few things that you should learn before you decide to sign up for one. It’s very important that you learn what will be required from you and how providers evaluate applications. We have put together the most important factors to consider when choosing a merchant account to suit your business needs.

Generally, you can obtain an Internet Merchant Account from banks, independent online payment providers and third party processors. These solutions tend to evaluate applications similarly, but you will find that banks usually focus more on your personal credit history (yes, it does matter) and the size of your business.  Online payment providers and third party processors, however, will be more interested in your turnover figures and your anticipated volume of transactions.

Therefore you should request quotes from the companies that specialise in meeting the needs of your business. For example: if you know that your credit history is less than perfect it is not advisable to get a quote from one of the major high streets banks as it is unlikely that your application will be approved. However, you should focus on online payment providers with a high acceptance rate that either provide flexible terms according to credit history or that do not evaluate credit history at all.

If you have been trading for a while and have a high turnover or high volume of transactions most companies will be happy to work with you. As rates are very competitive across the sector, ensure you get quotes from all companies offering better deals.  For example, PayPoint.net is offering to speak to their acquiring banks on your behalf to get you a better deal on your Internet Merchant Account.

Another potential issue is if you are running a specialty site that is considered high risk. By targeting the most appropriate payment processor, you can increase your chances of getting approved. For company owners that have a decent credit history, there are many more options available, especially if their credit card processing needs are small.

Ultimately, the secret to getting an Internet Merchant Account that suits your business requirements is to target providers that specialise in your business circumstances. This will increase your chances of having your application approved and save you time and money.

If you are looking for a new UK Internet Merchant Account, finding the ones with the lowest and most competitive fees could be time consuming. In many cases, you may not even know that you are paying too much money for your credit card processing needs.

In this article we have put together the lowest fees offered by Internet Merchant Account providers, based on their processing, application and transaction costs. Whether you are a start-up and looking for a secure online payment solution or you’re looking to get a better deal on your current Internet Merchant Account, we’ve made it easier to make the best selection.

1. PayPoint.net – If you run a small business, this is by far one of the best Internet Merchant Accounts you will find. They are not only respected in the card processing community, but you won’t have to worry about hidden fees and extra little charges. As a small business you can qualify for PayPoint.net Lite, where monthly fees start at just £10 and there are no set-up fees. If you run an established business you can take advantage of their feature-rich Professional or Enterprise packages. Their FastTrack option also provides online merchants with a complete solutions package including an internet payment gateway and merchant account at competitive rates.

2. WorldPay – Although Worldpay charges the same monthly fees as Paypoint.net, their set-up fees are a little higher, coming in at around £200. The transaction fees are reasonable and this company is not known for tacking on any additional fees throughout the month.

3. LloydsTSB Business Banking – Lloyd’s has a few good options for those interested in accepting payments online. Their CardNet service comes with some great perks and offers some of the lowest fees around.  If you already have a business account with Lloyds you will probably find it easier to purchase this addition. Overall, their Internet Merchant Account pricing structure is very fair and they are upfront about the fees you can expect to pay each month.

4. Barclaycard Business Banking – This service is designed more for those with a lot of experience in credit card processing.  For those that are just getting started, the company provides customer service to help you get set up. We selected them for this list because, in addition to their online payment process options, they provide PDQ machines as well as other onsite merchant account options at much lower rates than their competitors.

There are a vast number of online payment providers in the UK, but this list focuses on the four that are currently offering the lowest fees and the greatest service. Before you make your mind up remember that different independent providers and banks may offer you higher or lower costs depending on your circumstances.

If you are looking to set up an eCommerce website, please be aware that your personal credit rating may affect your ability to qualify for an Internet Merchant Account (IMA) with your high street bank. Even though you are applying as a business, banks will still take into consideration your personal credit, and if it’s not the best your application may not be approved.

The good news is that payment processing services are not solely offered by Banks. There are other options available in the UK that will help you set up your online payment processing system in no time. Online payment providers and other third party processors have been around for a while and these companies can offer you the service you require regardless of your credit history.

The benefits of using these alternatives is that they have a faster application process (compared to most banks), approval rates are quite high, transaction rates and fees are competitive and services are tailored to meet the varying needs of different businesses.

Some of the best places to get a UK Internet Merchant Account when your credit is less than perfect include:

PayPoint.net – Possibly the best solution for start-ups that have not yet had time to build up a credit history or for those that need a credit card processing solution that can be implemented quickly. Their fees are very low and the approval rates are good. There are several different plans that are tailored to specific business types including payment gateway packages for businesses that already have online merchant accounts.  They are also able to contact acquiring banks on your behalf if you want to get a better deal on your current online merchant account.

PayPal – Probably the most commonly used option for higher risk merchant accounts as there are no credit checks to open an account. While this is technically not an IMA, you will be able to process credit card payments and e-checks in minutes. Most of their products are also offered without any monthly or set-up fees.

Durango Merchant Services – With a 99.9% approval rate, chances are your application will be accepted and your account set up in no time.  They specialize in high risk merchant accounts so if you’ve been turned down several times before, this might just the light at the end of the tunnel.

Nochex  – This is ideal for businesses that also need a point of sale service in addition to an online payment gateway. They offer a high approval rating and competitive pricing structure.

ChronoPay – One of the most popular choices for bad credit Internet Merchant Accounts, they do not charge any monthly fees and their transaction rates are low. They also offer a third party account solution, where you use their own IMA.

Just because you’ve made some mistakes in the past or haven’t had time to build your credit history doesn’t mean you can’t take payments online. With these solutions, anyone can start their own eCommerce site.

Allowing people to buy from your shop online is becoming ever more important in the retail market. More people are putting their trust into online stores as is shown by the monumental increase of spending activity over the net during the past couple of years. With this in mind it has never been a better time to start selling online, whether you are a new business or an established bricks and mortar one. The first step you should take is setting up your web site which should include your full terms and conditions as this will be scrutinised by the banks when you apply for merchant services.

Once you have completed your web site the next step is to apply for a Merchant Account, also known as Internet Merchant Account or Ecommerce Account, which allows you to accept card payments. This is extremely important as consumers are used to purchasing online using either a debit or credit card and without this facility you are restricting the ways in which customers can purchase goods or services from your site.

When setting up a merchant account it is a very good idea to shop around and the rule of thumb is to not take the first option you find (unless of course it’s outstanding!). When approaching banks make sure that they provide you with all the information you require. Ideally you should be prepared with questions to find out the following:-

The charge each month for issuing statements on all your transactions The cost for processing your application (yes unfortunately there is one) The kind of discount rate they are willing to give. This is normally a percentage deducted from each sale The transaction rate which is normally added to the discount rate and is a flat rate on each transaction The monthly minimum charge which is made regardless of the level of sales each month The cost of chargeback’s which is the fee incurred per fraudulent transaction. Any other additional charges of which you should be made aware

In addition it is important you make sure your chosen bank has the capacity to serve you. Some banks may give the impression that they can provide everything you need creating a false sense of comfort since some smaller local banks tend to outsource their customers merchant accounts to third parties for a commission. You can save time and money by going directly to a national high street bank that can provide all the necessary services within its corporate group structure or indeed contact Seymour Direct who probably can offer the lowest running costs for a merchant account in the UK.

If you fail in your attempt at setting up an internet merchant account or even if you do not want the hassle of setting one up then there is no need to worry. You can use a third party processing service such as PayPal, 2Checkout, or ClickBank. These payment processes normally charge a percentage fee for each online sale that is made plus charge a transaction fee for receiving money (i.e. a percentage of the amount sent plus an additional fixed amount). The benefits of using these services are that they are easier to set up, offer fast payments but can work out very expensive if your sales from your web site increase. However they can provide a means to an end whilst tweaking your site and are an ideal option for smaller businesses.

For larger businesses it is recommended that you obtain an internet merchant account. It offers better flexibility for your customers allowing them a variety of card payment options whilst at the same time making your site more professional and trustworthy whilst keeping your costs per sale lower.

It can be a long and even expensive process preparing to sell online not to mention the ongoing costs when you are finally up and running. However your exposure on the internet can significantly boost your sales and thus increase your bottom line.

If you run a small company, similar to several ones on the net, there could be a considerable reduction in your profits if you don’t make a prudent choice  while deciding on your internet merchant account provider! This is equally true of larger concerns.

Lara Coleman, who sells software downloads on the internet, ended up with less money  than she had bargained for, after she settled all her dues.

So Lara met with her accountant, Bill, at their review meeting, annually. Bill showed her how she was paying more in fees, and how her present internet merchant account was harming her, with its terms and conditions.

If you own or have ambitions of starting an internet business, you need an internet merchant account to receive money from your clients.

Buyers on the net employ their cards to pay for what they bought. This is routed by means of a payment gateway, on your internet site. This gateway makes possible communication between the site you purchase from and the credit card processor, by transmitting details of what is bought and on the card.

Make certain that you choose a provider who will do what is necessary to unite the merchant account, payment gateway and your website.

Credit card transactions are fraud prone, if the payment gateway is not a secure environment. So, find a established provider who will make sure the payment gateway is secure.

Getting down to brass-tacks, all companies have fixed and variable costs. Nearly all expenses, whether rental or payroll, are not under your control. But,  how much you spend on you merchant account is within your control.

These costs can start with the payment of a fee to verify your request for their services.Ignore any internet merchant account for which you have to pay when you make a request.

In addition, almost all providers bill you between ten to twenty five dollars as the minimum you have to pay; you have to pay this, even if you don’t sell anything that month.

If the provider is adamant on your taking a long-term contract , look for someone else. In doing this, you can escape paying an agreement fee in the beginning, and a cancellation charge ($200-$500), in case you  decide to opt out before the expiry of the contract period.

There are also some providers who require a membership fee be paid. This is also known as a risk assessment fee and varies between $30 and $300.

We would recommend you to pick a provider who does not ask you to pay any of the fees just mentioned .

Nearly all providers impose a transaction fee of $0.25  on each credit card transaction processed . The varying component, termed the discount rate, usually ranges from 2.25% to 2.40% percent on all transactions. If you can find a provider who charges below 2.25%, you would gain a lot, in the course of your business.

Further, you also have a monthly statement fee or a bank fee.   Avoid any provider  who charges more than $10-$15. Further, beware of other concealed charges, such as a charge on refunds processed.

Small businesses typically  have a thin profit margin, especially after you provide for the fixed expenses. As you have seen, lots of providers compel you to sign a long term contract  and charge unwarranted fees,  like,  fees when you enroll or discontinue, and overcharge on transaction fees and discount rates. Therefore, what profit will be left, if a large share of it is spent as your merchant account costs?

And if you operate a larger business online, it makes sense to choose the right internet merchant account, get the best deal, and increase your profits.

The business world of today is one that is rapidly changing. If you’re doing things the same way you were doing them five years ago, you’re probably going out of business. No where is this more prevalent than in the online business world.  You have to act fast or go out of business.

With the power of the internet, customers can now buy everything from a new car to a pair of gloves.  With all of this buying power, there is a lot of money that changes hands without ever leaving the house. Did you ever stop to think about how that works? One of the big factors in this process is internet merchant account credit card processing. What is a merchant account and how does it help you as a business owner?

An internet merchant account is what allows you to make money online. You can have the most amazing product in the world at your disposal, but if you can’t accept money from anyone, you’re no better off than before you had the product. You have to be able to take credit card payments, check payments, debit cards and any other way that payment is possible. The more ways that you make it possible to pay, the more likely you are to make the sale.

Think about this for a minute. If someone comes to your website and they like what you are selling, they might click on the “Buy Now” link. If you only accept one form of payment, they might not be able to pay that way. If they can’t pay that way, the likelihood of them finding a way to buy it is unlikely. The customer will just move along to someone else who has what they want and can take their payment.

Internet customers are very rarely loyal. They’ll go after whatever has the best price and the most convenience. Having a payment gateway is the only way to be able to strike while the iron is hot. With the internet, you only have a few seconds to grab their attention and then convert them into customers. If you fail on the first attempt, they will most likely not give you another chance.

So how do you set up an internet merchant account credit card processing system? It’s actually quite easy. Once you have a product and a website to sell it on, you simply sign up with any number of credit card merchant services companies and they’ll walk you through it. After giving them your basic info, you’ll most likely be given a piece of code to paste into your website. This will create a “shopping cart” or merchant gateway where customers can pay for your product right then and there.

The internet merchant accounts company will charge you some sort of a minimal fee to run the transaction for you, but it is usually well worth it. If you didn’t have their capability, you would miss out on all of the sales anyway. Therefore, the small investment in an internet merchant account  credit card processing system is worth it.

Having an internet merchant account can make running a business so much easier than ever before. The number of customers that a business has access to immediately becomes an unlimited list, because they can take payments of all kinds from anywhere and anyone. If you have an internet business and don’t currently accept credit card payments, chances are that your business is suffering as a result. By taking the time to learn about different elements of merchant account providers and credit card processing, you’ll be better able to understand the process, how it affects you, and how it can help you in your business endeavors.

Credit card payments online are a fairly common accepted practice. However, if you’re just starting out in business or have recently decided to accept credit cards, there are some things that you should consider. First, you’ll have to determine which type of business you have. If you have a business that is limitless as to who can buy items or services from you, you will generally be required to have an offshore or international merchant account. That will give you the ability to accept payments in any form of currency from any country in the world.

An internet merchant account can be found with a variety of different banks and lenders, and you will need to look through the options that you have in order to choose the best one for your needs. Each one will have their own policies, rates, and regulations, and even though they are similar, they aren’t exactly the same. This is why you should always check out a few different merchant providers to make sure that you find the one that works for your needs. Many local banks won’t offer an internet merchant account because of the anonymous nature of online transactions that make them so much riskier.

Although online transactions are more prone to fraud, most of the providers that offer internet merchant account services have fraud protection services, which is something that you should look for when attempting to find an online merchant service. An internet merchant account can be a great asset to your business. Furthermore, you might not be able to survive as an online business without accepting credit card payments through a merchant service. In the end, the decision will be yours to make, but knowing a little more about the process can help to eliminate your confusion and make the process a little easier for you.

If you knew that a Canada Internet merchant account could dramatically improve profits and reduce overhead costs, would you get one? Well, the good news is that it can and you should! A merchant account conveys a host of benefits that can help your business expand to meet the demands of todays time-conscious consumers. To apply for your merchant services account, simply follow the following easy steps.
1. Apply for a Canada Internet merchant account through a reputable banker, loan agent, or financial underwriter. You may be able to work with a banker with whom you have already established a business relationship. Or you can shop around for a better deal if you feel your bank is asking too much money for too few benefits. These accounts can be quite competitive, so it pays to browse a host of providers in your town or on the Internet, where financial offers are waiting for your perusal. Just do a search for merchant accounts or merchant services, and you will soon find that a number of potential lenders will pop up on your screen. You also may want to get the names of other financial institutions from colleagues, friends, and family members who already have successful merchant accounts.
2. Check out possible Canada Internet merchant account providers by running their names through a business checking service, like the Better Business Bureau. While this is not a comprehensive background check or a certification of the lenders ability to meet your needs or keep its promises, it does provide a starting place for ensuring that the provider is not a total fraud and may be somewhat likely to live up to its promises. You also can check out online testimonials or ask for references. If the company has a longstanding history of providing merchant services, there is a fairly good chance that it will work out well for you, too.
3. Browse available services offered by Canada Internet merchant account providers. Perhaps the most sought-after benefit is the ability to offer credit card payment processing services to clients who shop at your Internet site. Find out how much this service will cost through your choice of Canada provider, and determine whether the benefits are worth the asking price. You may end up paying some of the expenses yourself, such as a domain registration and site-hosting fee, but this is to be expected from just about any provider. It is important to compare fees among various lenders to get the most affordable package. Some underwriters will ask for an application fee or an annual membership fee, as well as several other types. Look for the lowest available costs before deciding on the provider you want to work with.
4. Find out which services will by covered by your choice of Canada Internet merchant account underwriter. Some companies may provide free monthly statement printouts while others charge for this service. You also need to check service rates, which typically are billed by a few cents per transaction or via a low monthly interest rate. Set up your company budget and evaluate your customers buying patterns to figure out which billing method will work most in your favor.
Finding the right underwriter will help you to maximize your Canada Internet merchant account.