What is a charge back?

Category: Ecommerce Tags:

Charge backs occur when a credit cardholder informs the credit card company that the charge was not authorized, or that goods or services were not delivered as promised. The chargeback mechanism exists primarily for consumer protection.

A consumer may initiate a chargeback by contacting their issuing bank, and filing a substantiated complaint regarding one or more debit items on their credit card statement....

Why do I need a merchant account?

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A merchant account allows businessmen to accept credit card payments. These days most consumers prefer to shop using their credit/debit cards, if a merchant accepts credit cards payment, the sales could increase from 15% to 100% depending on the types of business.

Advantages of accepting credit card payment:...

How much do merchants pay to accept credit cards?

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The discount rate is one of the processing fees charged to your merchant account. There are various fees associated with having a merchant account. These could vary, depending on the type and company providing the service, but all merchant accounts have 2 main costs:...

How do I apply for a merchant account?

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Using a merchant account, a business owner has the ability to accept credit cards in virtually any retail environment, including the Internet.

To apply for a Merchant Account, all you have to do is first submit your info to the Merchant Account Provider you want to work with. To sign up, you will need:...

What is a merchant account?

Category: Ecommerce Tags:

A merchant account is a special account that allows your business to accept payments by debit or credit cards and electronic payments through a Web site. You must have a merchant account if you want to be able to accept credit cards from your customers. Setting up a merchant account usually involves the bank understanding your business and working with a third-party processor to arrange a mechanism for accepting payments....

What is a payment gateway?

Category: Ecommerce Tags:

A payment gateway is the link between your business merchant account and the customer's credit card. A payment gateway is an e-commerce application service provider, it is the equivalent of a physical point of sale terminal.

A payment gateway serves as the front end to your merchant account, allowing you to manage funds, transactions, and the like. It also serves as a connection between your website and your merchant account....