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How to Find the Best Ecommerce Merchant Account Provider

The first step to finding the best ecommerce merchant account provider is to understand exactly what it is, and why it is important to your online business. A merchant account is basically an arrangement with a financial institution that will enable you to accept credit card payments from your customers. Today almost 80% of the entire world makes purchases of products or services on credit. On the internet, 87% of all online customers use credit cards for purchases. It is estimated that loss of over 60% of all sales would result from not accepting credit cards for payment.

There are two types of merchant accounts. They are called card present and card not present. This simply refers to the actual credit card being used in the transaction. Obviously, card present accounts are for brick and mortar establishments. Card not present accounts are for online or ecommerce use. Now, that you know why you need one, and what kind you need, how do you find the best?

First of all, be very, very careful. The credit card industry wages constant war with fraud. Fraud is even more common on internet merchant accounts. It is going to be hard enough to help in this war against the fraud of your customers; you are not going to want your merchant account provider to be the enemy. There are many established and well known merchant account providers, and it is easy to investigate their reliability and legitimacy.

Besides being well known, the reputable ecommerce merchant account provider will be very open and up front about all fees and charges. If you are in doubt or confused about the cost of your service, this should be a red flag that something is not right. You should make sure the problem is corrected and the confusion cleared up at once. Fees themselves may vary between various providers. The bottom line cost is not the best indicator in most cases. The providers whose fees might be a tad higher might also be providing much better service.

Extra features offered by your provider are important in the evaluation process. These extras should be matched to the size and needs of your business. There are several web sites devoted to the evaluating of the various account providers. It would be helpful to access these sites, and do a little research. The provider that is perfect for one online business might not be appropriate for another. Some of the providers offer shopping carts, help with website design, and the ability to make payment without having to leave your site. Any online business that provides a product or a service is going to need to have a merchant account and accept credit cards. Take the time to find the most reliable one that is best suited to your own enterprise.