Accepting credit cards without a merchant account

An online store can accept credit card payments, even without a merchant account, by setting up a third-party credit card processor, also known as an online merchant account.

Many businesses now accept credit cards just to increase cash flow and sales, and to bring in more customers who prefer to pay with their credit card. Most online stores today are open to this innovation and it will greatly help their business grow.

For online retailers to accept credit cards, they may need to open an account or a third-party card processor, also known as a payment gateway or online merchant account.

Opening an account is the first option to get a more flexible payment option for your online business. Although getting it is expensive and difficult, most traders still want to acquire an account because of its many benefits such as more customers, secure transactions, and it also increases the trading potential in the global market.

Third party processors or online account is a great option

There is also another option for your business to accept credit cards, namely acquiring a third-party card processor or an “online” merchant account. It offers good services when it comes to your business’ credit card processing needs, just like a regular account. You can choose from a variety of payment gateways available on the Internet such as PayPal, ClickBank or PaySystems.

Third-party card processors or payment gateways are establishments that accept credit card payments or orders from online businesses. They perform virtually all payment processing and transactions for the online store and will send the funds to your regular bank account. Most of these third-party card processors also offer services that are compatible with your online store, such as 24/7 customer service and support, a shopping cart script, and they can also accept any other online payment method.

Others may advertise third-party card processors as free, but in reality they are not. Their setup costs can be very low and some are free, but they get a small percentage of every transaction made on your account. Third-party card processors may charge you more per sale than an account, but it’s a good choice for retailers on a budget who avoid the cost of creating an account.

It is always the merchant’s choice whether to outsource their business’ credit card processing needs to a regular account or a third-party processor. But for most online retailers, creating an online account is a great choice for accepting credit card payments. It’s easy, fast and inexpensive.

By Ryu Calledo

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