Online Merchant Accounts
merchant account is needed for (credit) card
not present, internet transactions.
Accounts - Brick & Mortar Business - If you are
already accepting credit cards at a physical location and
want to put your business online, you will need to talk to
whoever handles your current merchant account and tell them
your plans. Don't assume you can start selling online without
first talking to them. To do so could risk your account being
You probably know or have heard about shopping
carts, gateways, secure
servers, chargebacks, fraud
screening, etc., etc. If you have never accepted credit
cards over the internet before now, you may be confused as
to what all is involved.
Where To Start
First you need to
do some fact finding, learn what
services are available, your liability and the risks involved.
You need a basic understanding of how the system works for
(accepting card not present) credit cards. After that, you
will be prepared to make a wise decision about shopping carts,
gateways, fraud screening, etc.
The cybershoplifters know how
the system works, shouldn't you?
No one will dispute the fact that online fraud
is on the rise. Did you know that you, as the merchant, will
be 100% financially liable for any
fraudulent use of a credit card through your online store?
Internet Fraud - Who Picks Up The Tab?
E-commerce fraud cost (USA) over 2.6 billion
dollars during 2004, according to some statistics. The credit
card companies advertise that if a card is lost or stolen
the consumer is only liable for the first $50 of unauthorized
use and in many cases they have no liability whatsoever!
So then, what happens when the customer calls
their credit card issuing bank and reports an unauthorized
charge??? If you answered that the bank takes the money back
from the business that sold the item, then you are correct.
That is called a chargeback. So, what about
the merchandise that was bought (the unauthorized charge)
and shipped (the store filled the order and shipped the item)?
It is gone, the store will not recover the merchandise PLUS,
to add salt to the wound, the store is charged an additional
fee for the chargeback!
Your Business With Knowledge
You need to know how to identify a fraudulent
transaction. Unfortunately too many business owners learn
the hard way.
*Never assume that Address
Verification Service alone is enough
Fortunately, there is a new course available
that you can take online. We are very excited about it because
it will inform and prepare you against the constant and increasing
danger of credit card fraud.
Whether you are planning on opening an internet
store or if your net business is already established, you
need this course!
It is not expensive, the price is more than
reasonable and it is not difficult. The fraud is increasing
at an alarming rate, don't accept a false sense of security
just because your business has not been hit by it yet.
Sign up at www.PreventChargebacks.com
refers to address verification service
(AVS) as a Confirmed Address. It
is highly recommended that you print a copy of the Paypal
User Agreement and carefully read the Seller Protection Policy.
We are not saying don't use Paypal, we are just strongly advising
that you read and understand their User Agreement.