Payment Processing Tips

Looking for tips on Payment Processing? You’ve come to the right place! We provide useful information to online businesses that are looking for payment processing services.

A payment processor is required if you want to receive payments through your website. However, you will first need a merchant account – this is an account that is designed specifically to accept credit card payments. You can obtain a merchant account from a bank, or from a third party payment processor.

Why third party payment processors?

Our resources are based on third party payment processors because:

    • A merchant account from a bank can be difficult to obtain, particularly for an online business, as banks generally have a         number of requirements that are difficult to meet.

    • Banks often charge application fees and ongoing monthly fees (some payment processors do also).

    • Banks will often impose processing volume limits and if a merchant exceeds these limits their account can be                         suspended, funds withheld and/or incur additional fees.

    • Banks will often require you to organize a processing gateway – this is generally included with third party payment processors.