I am looking for a merchant account that will process credit card payment online. A 3rd party processor would be ok. This is for a adult dating web site and every company I have found does not work with adult sites. I also need international payment processing. If anyone knows of a good legitimate company please post the name or link.
Your business falls into the highest risk category for credit card processing, that’s why you are having a hard time finding a provider. You don’t have to go through a third party processor though. They are the most expensive ones and you give up control over your account as well. If you Google “adult credit card processing”, you will come up with a whole bunch of potential processors and the first in the list is appropriately called www.adultcardprocessing.com.
Be advised that the reason not every merchant account provider can accommodate your business requirements is that US banks will not underwrite certain very high-risk accounts (like yours). So companies that can provide you with merchant services are large enough to be able to underwrite (in other words to assume the risk) themselves. Most of the time they also have relationships with offshore banks and will be able to do your international processing as well.
is there a way to bill a credit card if im a small repair shop without a merchant account?
No, however you can set up a paypal account. Then your customer can pay you by credit card to your paypal account. They do charge a small fee for receiving funds.
Can somebody tell me what regulates or governs transactions between a merchant and a credit card company?
I want to file some formal complaints involving my business merchant account and a credit card company. Trying to figure out the best way to go. Do I file a complaint with the state they are located in via attorney general? Appreciate any ideas.
The State they are Incorporated in governs their applicable laws. This should be clearly listed in the agreements they sent you.
What is the best way to add credit card payment into my site…?
Guys what is the best and the cheapest way to add cridet card payment into my website. like i wanna sell stuff on my website, and buyers will enter their credit card information. Can you help me ?
hi there ;
why don’t u use pay pal business button on your website, its easy to implement on your website.
** i believe u know that pay pal is the one of most safe and secure payment method on internet, you can pay via visa or mastercards and more
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What is the exact internal process of online payment system?
How the merchant system come to know that payment is done successfully?
How payment system will inform them about transaction?
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What is the function of a credit card processing company? And What connection does it have with banks?
I want to know the primary roles of a credit card processing company (ex. Flagship, First Data) and how do they function? Are they an independent company apart from the bank?
Yes, they are an independent company separate from the bank, and they provide a number of services to banks.
Consider you have just set up a small bank, and you want to issue (for example) Visa cards. There’s a lot processes and infrastructure you would need to set up, and the processor can provide one (or all) of these services on your behalf if you choose to engage them:
– Card production: Printing and embossing the cards, and performing the cryptography to generate and mail the PIN numbers.
– Authorization: Providing computing services to authorize transactions against a credit limit.
– Fraud detection: Providing computing services to check incoming transactions against likely fraud (i.e. a transaction comes from Russia, but you did one in Atlanta two hours ago)
– Connection to networks: The authorization system has to be certified and connected to Visa and/or MasterCard
– Settlement: Clearing the transactions after authorization
– Chargeback: Managing the arbitration of dispute cases when a customer says he didn’t perform a transaction, or disputes the amount
In addition, the processing companies provide the same services for issuing branded credit cards which aren’t associated with a bank – for example, a football team or an airline.
Credit Card Processing Companies – Merchant Services – Video
Planning to open my new online business. Need your tips on below?
- I am planning to sell an online resume writing service and would like to accept payments online, how should I open a merchant account to accept online payments including paypal.
- how can I make the service most convenient?
- what’s the best web hosting service and why? any rating? I like mocahost.com but I am still not sure.
Thanks!
I can tell you have done some research into the needs of your new venture. Congratulations!
I can highly recommend an online course, http://elearning.sitesell.com/bz.html, that takes you through the steps of starting a successful online business by the hand.
Each week, a new section is covered by a real live Instructor that has a proven track record for online success. You will cover topics such as getting organic traffic to your new website, how to assure your website is SEO friendly, and best of all how to determine if there is demand for your site theme.
Included in the course is a full year of hosting, a domain name of your choice, and all the tools required for online success.
You have many choice ahead of you when starting an online business, and it’s comforting to know that you can have a whole community of like-thinkers (over 75,000 world wide) backing you up.
Is credit card processing service all I need to succeed in business?
I get the impression that my merchant friends attain financial success because of credit card processing service. Is this all I need to to be successful in my business?
For unknown reasons our business merchant has put a block on our account so no money is being transferred into our checking account (since the 28th). No one will talk to us regarding what is going on. They’re telling us have your lawyer call we’re not allowed to talk to you.
Is it legal that without knowing what is going on to shut down this merchant and find a new company to run our business? We have checks going out of the account and we need the money. Also any idea why a merchant company would put a hold on the funds and not willing to talk unless its through a lawyer?? thank you
Please go to http://dobermandan.com
There is access from that site to the doberman newsletter
Go to issue #3
Read it very patiently
In that letter is guidance to your question
If need be, you can send him an email direct from issue #3
Tell him a friend of Cox sent you.
If someone is starting a store online, how much is the average fee for a credit card processor? Thank you?
I might have the wrong name. When I say card processor, I mean companies like Google checkout, 2Co, Clickbank, e.t.c., people who you need to process your customers credit cards. I think another name for them is merchant account.
I ask this question bcz I heard it can cost thousands just to set up, and yet I’ve heard it’s not that expensive. For example I saw Google is only $50 to set up then couple cents off each item sold. So I want to know is it thousands one time or not. Thanks.
True, it depends which service you take.
Try Charge
They offer lower rates and free services that other
companies charge for.
Google is also amongst the lesser expensive.
PayPal is another popular solution: https://www.paypal.com/us/mrb/pal=L7UGTG34FPGRW
I would like to know the exact procedures for setting up my own merchant account on my e-commerce website without passing through a third party merchant account provider.
I know I have to open a merchant account with a bank. But how to I integrate it on my website??
Thank you
There are lots of merchant account account providers out there so shop around and get several quotes before choosing a provider. You’ll save yourself a lot of money that way. My first link below is a comparison worksheet to make organizing their rates easier. I also link to a calculator that does the comparison for you so you can see who is the cheapest in the long run.
When applying for a merchant account you’ll need the following items:
1) Verification of a US business checking account (a voided check works just fine)
2) Verification your business is legal (any document from the local, state, or Federal government works just fine. This includes Articles of Incorporation, LLC paperwork, Federal Tax ID, Occupancy License, State Tax ID, Fictitious Name Certificate)
3) A signed contract (provided by your merchant account provider)
Additional documentation is usually only required if your merchandise or account is considered high risk (e.g. there is a high risk for chargebacks). But this is rare. Personal financial documents should never be asked for, even for new businesses, as they are unnecessary.
You do not need to be a US based business but your business does need to have a legal US address and a US checking account. Otherwise it may be based on foreign soil.
Being approved will be based on the overall risk of your account. The higher the risk, the less likely it will be approved. Conversely, the less risk you present to the bank, the more likely you will be approved.
Risk is determined by several factors including:
1) Environment: The Internet is the highest risk and retail stores are the lowest risk.
2) Product sold: High stereo equipment is high risk, coffee mugs are low risk.
3) Personal credit: The better your credit the better your chances of opening a merchant account.
They balance the risk associated will all three areas and determine if it is worth it for them to take on your account.
Establishing a merchant account can be anywhere from a smooth and easy process to a nightmare. Where it falls is both the product of the merchant account provider and the merchant themselves. The better the communication between the two the smoother and faster the process is.
An account can be opened in as little as four hours or as long as a few days depending on when the application is submitted and the underwriting guidelines of the processing bank. The application process should never take longer then that without a clear and legitimate reason. If your application is taking two weeks to be approved and you’ve had little to no communication with your sales agent, something is wrong and you should consider canceling your application.
All merchant account providers require that every business sign a contract when establishing their merchant account. At the very least this contract will specify what the merchant’s responsibilities are as well as those of the merchant account provider. The entire contract should be made available to you before you sign it.
To integrate your merchant account into your website you will need to use a payment gateway. A payment gateway basically acts like a credit card terminal for your website. It’s software that runs on someone else’s server and they have an API for connecting to it. All shopping carts have built in support for at least one payment gateway and usually have the ability to support more so you don’t have to do any work to make the gateway work.
I recommend the Authorize.Net payment gateway as they are the most popular, best priced, and easiest to use. Plus they are enabled in every shopping cart by default so you don’t have to go find plug ins or anything for it to work. And if you want to integrate into your website yourself their API is extremely easy to work with. I linked to some free code with a tutorial that should help you along.
Setting Up an Offshore Company
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my score two months ago was 690 697 700.one of my credit card payments is do, its an 8,000 limit and im maxed out, my two others at 0 balance i dont use them,im going to apply for a line of credit,if i lower it to 7,000 before my payment is do, will my score raise by me lowering my balance when they run my credit that same week,my debt to ratio will be around 40% i pay all my bills on time:rent,car note, cc bills,student loans, with other merchant accounts are at 0 balance with a nice limit.my bank just offerd me an up to 10,000 loan at 8% for 18months but i want a line of credit instead of loan can i tell them i want a line instead,i need acually 15 to 20,000 shouldnt i be able to receive that line amount with my scores and debt to ratio.
The way it works is your total debt divided by your total credit limit equals your debt to credit ratio any time this number exceeds 30% your score takes a hit.
This does not include vehicle or mortgage loans only credit cards.
As far as the line of credit is concerned that will be determined by your debt to income ratio and ability to repay.
Any input from folks who have or have had offshore merchant accounts would be helpful. Thanks.
Surely, the existence of merchant accounts overseas is normal, but I’d be cautious about working with someone who is offering services as an offshore entity unless you’re confident they are a legitimate entity. There’s lots of room for fraud, going this route.
Can a merchant issue a second charge for another service to the card without the cardholder approval?
I approved a charge on my credit card by telephone for my adult son at a dentist. The dentist then charged a second separate visit for additional work without asking me for approval. I am fighting this, but my credit card company is not helping much. Do I have recourse?
The dentist should have a signed authorization. Have them produce it. If they can’t then challenge the charges on that basis. Fill out the credit card company’s dispute form (it’s very important that this be done so there is a written record). You do not have to pay disputed charges until the matter is resolved.
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