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Accepting Credit Cards Online Without A Merchant Account

By: paynet

The foremost thing that is taken for granted to accept credit cards on your website is that you must have a merchant account.

While this is not the case always, you can accept credit cards with a Third Party credit card processor.

Now the question arises that: What is a Third Party Credit Card Processor?

It is basically a company which accept credit card payments on behalf of you or your company.

The Third Party's own merchant account are responsible for processing of payments made by customers.

Finally you the retailer is paid (minus a commission fee) by the Third Party processor.

There is no requirement to pay for a costly processing software, monthly fees or minimum transaction fees.

There are no chances of loosing any money in this because you only pay a percentage fee on sale.

The second question that come into mind is that: Should I have a Merchant Account or Third Party Processor?

So the answer to this is that, according to the size of the company this decision is taken.

Almost all small businesses do not need their own merchant account and are better off with a Third Party processor.

On selling your products, Third Party processor takes care of the payment by checking the card, processing it and sending you a monthly check. This is a great benefit for you.

Whereas the larger businesses having a bigger turnover are expected to have a full merchant account.

For if you are required to pay a huge set-up fee or an online merchant account though the per transaction charges will be reduced as compared to Third Party processor. In this way you get back your initial expenditure.

Hence it is possible to accept credit cards online with a Third Party processor if you have a large business.

Article Source: http://bytepowered.org/articles

For More information visit Credit Card Processing and Merchant Account Services.

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