Are there good reasons for an e-business not to have credit card processing?

There are people operating online businesses that have not added credit card processing but when I think of them the image of a dinosaur comes to mind. Especially those that could not adapt to the changes in the world and simply faded into the background one by one.

I say this because I can’t imagine anyone with an e-store that does not offer credit card online processing services could be long for this world – as a business entity that is.

There are those people out there who stubbornly hold on to the old ways no matter how high a mountain of evidence is placed before them. Who knows how many fortunes were lost by those tethered to radio as a major entertainment medium when television was starting to pick up steam. And no doubt there were some people who thought dial-up Internet service would never go away. And let’s not forget those who looked at CNN and thought it would never last a year.

With the Internet being such a dynamic and growing medium, it is hard to think that there are people who had the foresight to place a business online but not to offer merchant account services. If nothing else the math should be their tipping factor.

More than one study has shown that 80 percent of all goods and services that are purchase over the Internet are paid for using a credit card. And the projections are for that number to continue to go higher.

So anyone not adding online credit card services, essentially, is banking on the fact they can scratch out enough business from those not using credit cards for their e-shopping – that group that accounts for less than 20 percent. Now, I don’t think you need to hold an MBA from Harvard to realize that a small audience that is projected to get smaller is not where you want to base your future longevity.

There, too, is the factor of how it plays to that majority group of consumers shopping on the Internet. Not adding online merchant account services sends the message to them that their business is not a concern or yours – that you don’t need them. Again, probably not the communication that is going to keep your business running smoothly and growing in the months ahead.

What might be useful would be to find out what the objections are to credit card processing for an Internet store.

Some might look at the fees and decide the proposition is too much, but virtually every e-business owner will tell you those monthly fees are more than paid for by increase sales and profits.

Others may think that merchant services are for bigger business, but there are legions of mom-and-pop operations that accept credit cards.

And others may think it’s too complicated to add credit card processing, but the application takes less than 15 minutes.

Click this link to Learn How You Can Be Approved Today For Your Own Merchant Account. 

So if you are one of those businesses operating on the ‘net without being able to accept payments online, now might be a great time to re-think that decision. Again, credit card usage online is only going to grow, so there’s going to be plenty of customers to go around.

Jim Osterman is a Web contact developer with CardAccept.com, a leading Internet merchant account provider, offering innovative credit card processing solutions.

By Jim Osterman Published: 6/20/2008

5 Questions to Ask A Likely Internet Merchant Account Provider …

Recently I went looking for an online merchant account, with disastrous results. I made the mistake of taking information at face value and relying on the ecommerce merchant account provider’s good reputation in other areas. 

An Ecommerce Internet Merchant Account 

An Ecommerce Internet Merchant Account by: Shane PenrodSmall business owners and home based entrepreneurs sometimes reach the point where they realize. 

The Facts About Internet Merchant Accounts

If you own and operate an online business, then you realize that without giving your customers the ability to pay for your merchandise with their credit cards you are not likely to make much money.   

Latest merchant account internet news 

I hope you’ve been enjoying my posts lately. I thought I might do something different today and rustle up a few bits of info from around the WWW. These are some. 

Web Designing Want Partnership with honest Company with Merchant …

Hello we are an established US company operating several legitamate webites selling advertising space and turnkey websites on the internet to mostly US buisinesses We are looking to partner up … Want Partnership with honest Company with Merchant Account freelance project is offered at getafreelancer. You will need to have Coder account before you place your bid. If interested, you can get your getafreelancer account.

Technorati Tags: get a merchant account, internet merchant account, merchant account services, online merchant account

Some merchant account providers will allow you to use alternative forms of guarantees in place of a personal guarantee. These options include:

1) A corporate resolution – your business provides documents (balance sheets, third party prepared financial statements) that shows the business is strong enough to guarantee itself

2) Provide a letter of credit – a letter of credit basically is a loan that your bank promises to give you at a future date. The catch is you don’t get to ask for it. The processing bank does, They can only invoke it if you owe them money and they are unable to get those funds from you. It is like an insurance policy.

3) A reserve – the processing bank will hold some of your funds in reserve to cover any exposure for loss they might have. 6 months or so after you close your account they give it all back to you. They may give it back sooner if you have processed for along time and shown to be a low risk merchant.

Keep in mind not all processors offer these alternative although most offer at least one of them.

Low Cost Merchant Account Service

[affmage source="amazon" results="5"]Merchant Account Service[/affmage]
[affmage source="overstock" results="5"]Merchant Account Service[/affmage]
[affmage source="cj" results="5"]Merchant Account Service[/affmage]

Technorati Tags: american express merchant account services, best merchant account service, business, chase merchant account services, costco merchant account services, ecommerce, free merchant account services, merchant, merchant account service provider, merchant account services, merchant account services comparison, payment, quickbooks merchant account services, shopping, wells fargo merchant account services