Starting a new company or new business today can be very difficult at times. You might come across words or terms that you might not understand, especially if you are starting an online business (or e-commerce) or you may be classified as a high risk merchant and shut off by companies like paypal, square and stripe. One of the first things that you might want to do is accept credit cards at your place of business or online. This is called a merchant account. Basically, there are two types - swiped (for brick and mortar business) and keyed (for Internet businesses or telephone orders). An Internet merchant account costs a bit more money in terms of a discount rate because the risks of chargebacks is higher than a brick and mortar business. A good place to start is Some Basic Merchant Account Fees - this post will help explain some of the terminology that you might run into. A merchant account for brick and mortar businesses can differ from merchant account provider to another. Electronic Payment Gateways If you sign up for an Internet merchant account, you will need an electronic payment gateway to help process the transaction. This can be compared to a terminal in a brick and mortar store. An electronic payment is the virtual connectivity between your e-commerce website and the transaction provider which helps to facilitate the credit card transaction. Some of the well known electronic payment gateways include (but not limited to):

• Quantum Gateway
• Authorize.net
• eProcessing Network
• Charge Anywhere
• USE ePay
• 2000Charge
• Network Merchants Inc (NMI)
• First Data Global Gateway (formerly known as LinkPoint / YourPay)

Business Models That We Can Approve

On a case by case basis, some of the business models that might be approved by our high risk department include:

♦ Travel Services	♦ Multi-Currencies	♦ High Average Tickets	♦ Credit / Debt Collections
♦ Poor Credit	♦ Electronics	♦ Mail Order	♦ Telephone Order
♦ Hard to Acquire	♦ High Volume	♦ Time Shares	♦ Real Estate
♦ Herbal Supplements	♦ Financial Consulting	♦ Telemarketing	♦ Dating Websites
♦ E-Book Downloads	♦ Software Downloads	♦ SEO Services	♦ Event Tickets
♦ Prepaid Debit Cards	♦ Calling Cards	♦ VOIP Services	♦ Telecommunications
♦ MLM Marketing	♦ Direct Selling	♦ Business Opportunities	♦ FFL Dealers
♦ Annual Contracts	♦ Magazine Sales	♦ Vacation Rentals

Unfortunately, the costs of the merchant account for these services is on a case by case basis, varying by the merchant's credit history, chargeback history, and the type of sales.  We work with over 25 banks worldwide to get you the best deal possible.  Once you submit your application, an account representative will contact you regarding rates, pay-outs, and if applicable - a deposit or some type of withholding. 

Internet Merchant Account

An Internet Merchant Account allows a merchant to accept and process credit cards on their website.  This is usually done in conjunction with an electronic payment gateway.  Most electronic payment gateways will offer the merchant an API to capture and process credit cards on their secure website or a secure URL on the electronic payment gateway's server to process the transaction.

Best Internet Merchant Account Rates

Unlike some websites that require you to e-mail or call for rates, we post them on our website (rates are for an Internet merchant account with the QuantumGateway) (unlike most other electronic payment gateway, there is no monthly service fee for this gateway and no extra charges for transactions):

Sign up Now for these Low Rates

• Discount Rate (Visa / MasterCard / Discover Card):  2.09%
• Transaction Fee:  20¢
• AVS (Address Verification Service) Fee: Free
• Monthly Statement / Customer Service Charge: $8.00
• ACH Fee:  Free (most charge a transaction cost - this will save you about $5.00 a month)
• Batch Fee:  Free (most charge a transaction cost - this will save you about $7.50 a month)
• Virtual Terminal:  Free (also accessible via a WAP-enabled phone)
• American Express *:
  • $7.95 per month and 0% discount up to the first $5,000 in annual sales
  • If $5,000 is met, American Express charges a discount rate based on business industry and volume.
• Non-Qualified Rates - Unlike most other companies, we do not have a mid-qualified rate, saving you more money.
  • Discount Rate Surcharge: 1.00% - most companies charge 2% or more on non-qualified rates, bringing your discount rate to over 4%!  Take a look at your merchant account statement to see how many transactions are downgraded.  If you have fifty $100 transactions downgraded to non-qualified, this merchant account can save you at least $50.00 a month!
  • Transaction Surcharge:  10ΒΆ

• Fraud Prevention Tools

   (No Extra Charge)
  • Verified by Visa (VBV) / MasterCard Secure (MSC)
  • MaxMind
  • DialVerify
  • All these features are at no extra charge to the merchant to help prevent fraudulent transactions and chargebacks while saving you time and money

   

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