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The WebSmartIdeas aims to promote and disseminate good creative ideas to improve
society.
The number-one question on the minds of new Web site builders is, How do I arrange to accept credit cards for payment? Once upon a time (which means last year, in Internet time), getting merchant account status for an online storefront was tough because credit card companies were suspicious about vendors who lacked brick-and-mortar storefronts. No more.
Credit cards aren't processed cheaply, however, at least not for a start-up. A typical fee schedule for a small-volume account (fewer than 1,000 transactions monthly) would include start-up fees amounting to around $200 and monthly processing fees of around $20.
Is that money you need to spend? Absolutely. It's simply impossible to run a real electronic storefront without credit card processing capabilities. In very special cases, yes, you can go online and ask customers to mail in checks, but when your aim is to build a volume storefront, you've got to take credit cards--customers expect it, and it will make transactions easier for everyone involved.
A good first place to start your search for merchant status is your own bank. Most issue credit cards, and if you have a long-term relationship with them, that's a big plus. What if your bank says no? Try a few other local banks--offering to move all your accounts--and you just may be rewarded with merchant status.
You may also try other companies that specialize in issuing accounts to online
merchants, including:
VeriSign
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