Most
businesses will sooner or later accept credit
card payments from their online customers.
However, there are a few things that you
can consider before adding credit card processing
functionality to your Web site.
Instead of credit card processing,
have you considered offering electronic
checks?
There is no doubt that online
shoppers predominantly used their credit
cards (97%+), but you can start by first
offering electronic check payment processing
for your customers before moving to credit
card processing. See ACH
Merchant Accounts for details on accepting
checks online as payments for goods and
services.
If you are going
to accept credit cards, have you researched
the best services offered by providers?
In particular I would suggest
to never think of the VISA/Mastercard “discount”
rates as the exclusive reason for your decision
to choose one provider over the other. Provider
who quote very low rates are usually trying
to distract you from hidden fees they charge
and this can make it much more expensive
in the long run. See our pricing charts
in compare
merchant accounts.
Processing equipment
(hardware terminals, virtual terminals,
and software) should all be free.
I have worked in the industry
long enough to tell you that everything
is negotiable no matter what the merchant
bank tells you. Here's what I regards as
fair pricing: Internet discount rates of
less than 2% (total all inclusive - Interchange+Plus),
per transaction fee of 12-20
cents, monthly service fee of $10, no termination
of contract fee, and no fees for : setup,
application, annual, customer care, 24hour
support, online statement, printed statement,
or other such silly concoctions.
Don't sign a contract
that commits you to staying with a merchant
account.
If you sign a term contract
then regardless of your level of satisfaction
you have no choice but to stay with them
for the duration of the contract unless
you want to pay a hefty termination fee.
Make non-termination fee as part
of your agreement to sign a contract.
If you are still being forced
to sign a contract, demand that they waive
any termination fees and get this in writing
to protect you in the future. Don't be shy
asking for this.
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(last 30 days) 
