Payment Processing Advice and Information

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 necessary should you wish to accept payments via your website. The payment processor handles the routing of the transaction from the payment gateway to the credit card company and coordinates the merchants fund settlement payment.

Also needed to accept credit card payments is a merchant account. This is an account that is designed specifically to accept payments from credit cards, and is where the funds from each transaction will settle.

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Though banks are sometimes a good option for a merchant account, for online merchants and small businesses it often ends up being more beneficial getting an account with a different provider.

Remember:

• Applying for a merchant account with a bank is usually more intensive.
• Banks will often impose processing volume limits, which when a merchant exceeds will result in the account being suspended, funds withheld and/or additional fees.
• Some online merchants will require high risk merchant accounts, as they are in a high risk industry. Banks will rarely approve these merchants.
• Banks will often require you to organize a processing gateway, which is generally included with third party payment processors.