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How to setup a merchant account?

by Steph Fernandez Digital Marketer

Merchant accounts are accounts that enable you to accept credit card payments online. You can either sign up with an established merchant account provider, or you can take the DIY route .

How to setup free merchant account?

On this page we will be discussing about how you can set up your own merchant account without any cost (free merchant accounts).

How to setup merchant account with visa and mastercard?

To setup merchant account so that you can accept Visa and MasterCard payments, you will need to do the following:

1) Sign up for a merchant account service such as eMerchantBroker ;

2) Get your online business SSL certificate. You will need this certificate in order to accept credit card payments online;

3) Come up with a unique and memorable domain name for your online store. This is the name that will show up on customers' credit card statements, so it should be easy to remember, just like Amazon.com ;

4) Get your business registered , and obtain all other licenses as required by your local legislation;

5) Get a merchant account for credit card payments or apply for a free one ;

6) Download and install an e-commerce software on your web server. This will enable you to accept online credit card payments from customers who visit your website, as well as process refunds and track sales , if applicable.

How to setup merchant account for my website?

Setting up a merchant account is not difficult. First, you will need to open the merchant account so that you can start accepting payments . You will also need an SSL certificate before opening your merchant account , since both Visa and MasterCard require this document in order to provide their services. If you already have the SSL certificate , then you only need to sign up for a merchant account .

How can I open my own merchant account?

Although it is not difficult to open your own merchant account, there are important details that will affect whether you can get an account and how much it will cost. For example, if your business is a large corporation , it will be easier for you to open a merchant account than if your business is just starting. However, larger businesses will likely pay higher rates and fees because they have more transactions taking place in their accounts .

How can I accept credit card payments without a merchant account?

Shopify allows you to use different payment gateways to accept credit card payments without a merchant account. Here are some of Shopify's partnered gateways (note that the availability of each payment gateway depends on your country or state):

  • PayPal Standard : You can use PayPal to accept Visa, MasterCard, American Express, Discover via PayPal Payments Pro and PayPal Express Checkout because it is one of the most popular payment gateways.

  • Shopify Payments : You can use this to accept payments via Visa, MasterCard, American Express and Discover because it is Shopify's own payment gateway. This can be used if you do not want to use PayPal.

  • Square : Square is a mobile credit card processing system that allows you to take payments using an App and a credit card reader or via email.

  • Authorize.net : Authorize.net is compatible with Visa, MasterCard and Discover cards for accepting online transactions – although you can also use it to accept payments offline (such as when you sell something at a car boot sale). It also works well if your business is based in the UK or USA.

  • Virtual Terminal : This is great if you are planning to accept credit card payments offline. You can use it for accepting payment on your website, by phone or even in person at trade shows and other events where you meet prospective customers face-to-face. Virtual Terminal works with all major credit cards, including Visa, MasterCard, American Express and Discover.

How do I accept credit card payments online?

If you are looking for an ecommerce shopping cart that allows you to accept credit card payments online, there are many options available . It is important to choose the right one in order to set up your business well for future success.


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About Steph Fernandez Freshman   Digital Marketer

2 connections, 0 recommendations, 29 honor points.
Joined APSense since, April 26th, 2021, From melbourne, Australia.

Created on Nov 26th 2021 05:35. Viewed 301 times.

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