What is a merchant account? Why do I need one?
A merchant account gives a business the ability to accept credit
cards as a payment for the company's goods and services. This provides
your customers with an extremely popular payment option, beyond cash and
checks.
Studies have shown that merchants can typically increase their business
30-70% or more - sometimes even hundreds of percent! Plus, customers are
more willing to purchase higher cost goods using a payment method that
offers them repayment flexibility. It is projected that by 2002, credit
card transactions will account for 98% of Internet sales, equaling .6
billion!
How
does it work?
The merchant account provider authorizes the credit card transfer
from your customer and deposits the funds for their purchases right into
your business checking account, typically within two business days.
How
do I get a merchant account?
Merchant accounts are available from some banks and other
independent providers such as Cardservice International. Cardservice
International is a leading transaction service provider. Last year the
company serviced over 125,000 merchants and processed over billion in
bankcard volume.
Cardservice International offers small-to-mid-sized business merchants a
variety of services including credit card, electronic check, Internet
transaction services, and more. StudioDeluxe.Net has simplified the task
of approval for an online merchant account through a partnership with
Cardservice International.
Would it be easier to go to my local bank to get a merchant account?
Many local banks do not set up merchant accounts, but have
relationships with companies like Cardservice International. Also, in
addition to offering outstanding programs, Cardservice International
works with the kinds of businesses that most banks consider risky and
shy away from, such as new businesses, Internet, phone and mail order
businesses.
How
long does it take to get a merchant account?
Application approval and set-up can be completed in as little as
24 hours through the special Cardservice International program available
to StudioDeluxe.Net clients.
Which credit cards can I accept?
The most popular credit cards-MasterCard, Visa, and American
Express. Cardservice International can also support all other major
credit cards, including Discover and Diner's Club.
What
kind of equipment do I need to process credit cards?
A computer terminal / PC with Internet access is used for
Internet, mail, fax and phone orders.
In a retail environment, a specialized terminal/printer designed to read
the magnetic strip on the back of the customer's credit card is used.
This can provide the customer with a paper receipt at the time of
purchase.
An imprinter, which takes a physical copy of the customer's credit card,
may also be used.
How
do I know that I'm getting a "good deal"?
The Cardservice International program offers an outstanding value
across the board-functionality, security, reporting, initial set-up and
low residual costs.
Can
I use my merchant account to accept credit card payment in my online
store? Is it safe to process credit cards over the Internet?
Yes, Cardservice International's Secure Sockets Layer Application
Programming Interface (SSL API) offers Internet Service Providers an
encrypted connection to its Secure Payment Engine. By using the
LinkPoint Secure Payment Gateway technology, all Cardservice
International merchants receive fraud screening on each transaction and
real-time reporting via their Web browser.
For the merchant who wants to get online fast with a limited start-up
budget, Cardservice International is the best choice.
Using Cardservice International's SSL API, all orders and payment
information sent from the merchant's Web site will be encrypted using
industry standard RC4 1024-bit encryption with SSL Version 3. This
encrypted and secure data is routed to Cardservice International,
decrypted and processed. All processed information (Approved/Declined
transactions) is then re-encrypted and sent securely back to the Web
site. Once at the Web server, it is decrypted and displayed to the
consumer. Also, order confirmation e-mails are sent to the consumer and
to the merchant. The Cardservice International SSL API guarantees that
the orders and payment information generated by the merchant's Web site
remains totally secure.
The
fraud protection features sound great, but what about other features?
Using the following e-commerce modules, Web customers will be
able to order products, pay for them and arrange for shipment all in
real-time.
These modules include real-time:
- Fraud Protection
- Shipping
- Tax calculation
- Business Reports
Merchants also have the option of choosing auto-settlement or merchant
settlement. Taking advantage of the Cardservice International Business
Reporting module allows the merchant to view critical ordering and
financial information all from a single source - their Web browser. And,
all of these modules are included with your Cardservice International
merchant account.
What kind of payment solutions
are available through Cardservice International?
Three unique and user-friendly payment solutions are available to
serve the e-commerce needs of any merchant:
-
Virtual LinkPoint allows merchants to manually enter
credit card transactions on a PC through a secure connection to the
Internet. Virtual LinkPoint is the Internet equivalent of a
point-of-sale (POS) terminal or PC-based transaction software
without the hardware/software and maintenance expenses. Sales,
returns authorizations and real-time reports are all provided by
Virtual LinkPoint.
-
LinkPoint HTML is a simple, yet sophisticated product and
requires a little hands-on work by the merchant to use. It wraps
around the merchant's existing Web site, allowing shoppers to select
and order products and securely pay for them with a credit card. All
the same services provided by the Virtual LinkPoint are available
with the LinkPoint HTML.
-
LinkPoint API is the most sophisticated level of service,
enabling software companies, Commerce Service Providers (CSP's),
Internet Service Providers (ISP's) or cyber-wise merchants to add
Secure Sockets Layer (SSL) payment capabilities to their products,
services or custom storefronts. Additional features, such as tax and
shipping calculations and Electronic Softgood Download (ESD)- i.e.,
software, pictures or text - are included.
Will the Cardservice
International LinkPoint Secure Payment Gateway work with my shopping
cart?
The Cardservice International LinkPoint Secure Payment Gateway
works with a wide variety of shopping carts. StudioDeluxe.Net offers a
shopping cart that has already been integrated with the Cardservice
International LinkPoint Secure Payment Gateway and fully tested. It is
ready to go!
Internet technology changes so
fast, will I be able to use my merchant account with my Internet store
in the future?
Absolutely. As Cardservice International upgrades its LinkPoint
products in the future, merchants will receive free upgrades to keep
them on the cutting edge.
