Basic Criteria For Online Credit Card Processing
Many aspiring e-Commerce store owners will need to eventually use a merchant service company in order to enable the processing of credit cards. A simple Google search for merchant services brings up about 21,000,000 results. Many eCommerce newbie's ask , "what is the criteria for choosing a merchant service for my shopping cart software?" There really is no one answer, and I highly recommend researching your shopping carts requirements as well as searching the internet for information about what an online store owner might need in a credit card processer. That being said, there are some universal features a majority of people should consider.
Global Customers - If a business plans to sell to an international marketplace it's important to obtain a merchant account which is capable of processing international credit cards.
Account Deposit Duration - It's a good idea to ask a credit card processing company how long it takes for the funds generated from credit card sales to be deposited in to the bank. My experience has varied over the years with some companies waiting upwards of 1 week while others taking only a couple of days.
eCommerce Security - Obviously security should be a top concern in setting up a store because the information which needs the most protection is the passing of credit card information from the client computer to the credit card processing company. Always inquire on the general security policy and ask if their system supports anything beyond the standard 128-bit digital certificate. Additionally, a PCI-ompliant system is a definite plus eCommerce owners should consider.
Fee Structure - Many credit card companies will try to entice you with low rates, and fail to mention any sort of transaction fee or charge back fees. Before you sign on the dotted line make sure you have a clear understanding of how much everything will cost you. Receiving a bill with charges and fees that were not expected is never a good thing.
