Online Credit Card Blog

Hugh Walters asked:


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Online business opportunities that allow you to make money from home by selling a product or service online often require you to accept credit cards in order for your home business to make a profit. You can set up a “merchant account” to make money from home from your online sales, but be sure to evaluate your costs before you do.

How to make money online is obviously the first topic to research when you have decided to make the transition to make money from home instead of dragging yourself to work every day. If you have decided to pursue an online business opportunity that allows you to make money from home by selling a product or service online, such as the highly profitable opportunity of selling ebooks, then a significant part of your continuing research will be to select a merchant account. A merchant account allows you to accept credit card payments on your website. You are the merchant. You will open an “account” with a provider. That account is a contract – your “merchant account.”

Statistics confirm that online customers prefer to make their purchases with credit cards over cash, check or money orders. Nielsen Online Survey reported that the majority of online purchases from businesses were made with credit cards (61%). Books, traditional books and ebooks, had the highest volume of sales. Since 85% of internet users have made a purchase online, (most likely from home), not offering the opportunity to make a purchase with a credit card at your website would be like closing the door on the majority of your customers and letting them take their money to another online business that does accept credit cards. Website customers don’t stay long. You need to learn how to take every opportunity you can for an online sale. You also need to learn how to make a profit to make money online.

First, you need to learn how to evaluate businesses providing merchant accounts so that you can determine which one will be the most profitable for your online business to make money from home. The money involved in providing the opportunity for online credit card purchases at your online business will be considered part of your expenses. Your expenses will determine how much you should charge for your product or service, and your total revenue minus your total expenses is your profit.

When evaluating merchant account opportunities, make sure you learn how to look for expenses such as transaction charges, or a monthly minimum charge if your sales from your online business don’t meet the company’s minimum standards. Other charges that will affect how much money you make online are a statement fee and money for an application fee. Learn how to look for money requested as a “batch fee.” At the end of the day, a business will typically run a “batch report” – which is a report of all the transactions that are rung up on credit cards for the day. Some businesses will charge you every time you run a batch report, even if you don’t have any expenses. A “discount fee,” despite the literary implications of the word “discount,” is an expense (fee) to your business, not a discount. Different companies will charge your online business a combination of different fees. They may also charge you money for monthly, quarterly or annual fees, and you should learn how to evaluate charge back fees. List each potential company and the amount of money the company will charge, then make your comparisons.

How to make money online using credit cards so you can make money online with your own home-based business takes time to research, but it is well worth the investment to learn everything you can about all aspects of online business opportunities. Every piece of information you learn how to apply to your home business is another avenue to increase your profit. Evaluating merchant account opportunities is an important part of your online business so you can make money from home knowing you made your most profitable business decision. Your online business from home will increase sales, and you’ll keep the profit, not a billion dollar bank. Invest in some reading and research, and the profit will be yours for as long as you want to make money from home, and you’ll keep making more money as long as you keep up with the trends on how to make money online.



CORNELIUS

tcarrw asked:


I am looking accept credit card payments online, from your experience what is the best service to have do this. I am looking for reliability, cost and service. What are the fees for these services as well.
Paypal seems like an opt out. If it is the best why, and what are their fees.

JULIUS

notquite404 asked:


Why is it that credit card companies will not accept a payment of less than $1 and you can’t make more than one payment every 24 hours? Is someone out there trying to pay their credit card bill a nickel at a time? And what would happen if they did? Inquiring minds wanna know.
By online credit card payments, I meant paying, say, Citibank or Amex money towards your cc bill/balance. I could have been clearer…I didn’t mean for online purchases.

NEAL

Ernest Paul asked:


So you are a merchant with a website and you wish to process credit cards online because you are aware that credit card processing is the most convenient and most common mode of payment on the internet. Well, first of all, besides your website or online store you need to have a merchant account provider, engage the issuer of the credit cards that you plan to accept as payment, and use the payment gateway services.

Let’s see what actually happens when credit card payments are accepted online.

Now, in order to sell your goods online, you, the merchant, need to have a merchant account and a payment gateway account. When a customer visits your website and decides to buy something he will type in his particular credit card details. The billing information and order details are immediately dispatched to the payment gateway secure server by the online store administrator where they are processed and then sent to the merchant’s acquiring bank. The bank then sends the information to the bank that has issued the credit card in order to get the transaction verified.

Once the verification is made the payment will be either approved or rejected. This response is then forwarded to the merchant’s acquiring bank by the credit card issuing bank and the bank then forwards these transaction details to the payment gateway. If a payment has met with approval, the payment will be deposited into the merchant’s account. The details are then sent back to the website or online store. Then the same information is then presented to the customer, and he is informed that his credit card was charged. If a payment has not met with approval, it will be rejected or denied and the customer will be informed of this, too.

Although this sounds as if it is a lengthy process it is streamlined and takes only a few seconds to be performed.

How much a merchant account and a payment gateway costs can be different depending upon the provider. Of course, you will be expected to pay a one-time set up fee, and you may also be obliged to pay a discount rate for each payment, as well as a minimal fee for each transaction. Again, fees could also be charged on the transaction total, at various processing stages of an online payment. All this normally adds up to but two to three percent of the total charges.

Practically all experienced webmasters all over the world realize the value of online credit card processing and use it to their advantage as it helps to optimize their business. Why don’t you join them?



OLIVER

Abhishek Agarwal asked:


The internet is perhaps one of the most phenomenal barrier breakers when it comes to communication and knowledge. With the internet access to information became global and today information on almost any issue is available online. Also with this came concepts of virtual shops and e-shops that exist only within the net. These websites allow you to use their online credit card payment and acceptance ability. Once they verify and approve your credit card payment, they deliver your order to your doorstep. This is truly convenience at its very best as you do not have to do much than sit at your computer to get what you want.

The number e-shops today are increasing by the dozen and usage of online credit cards is becoming more and more popular. Shopping has received an entirely new dimension with the advent of online credit card payments. Now it is not only possible to shop from home but also get discounts on a variety of products. This is truly amazing. There is no requirement to worry about bad weather and no traffic jams and other hassles. Just go online, visit an e-shop and select your product and use your online credit card payment-acceptance option. Your order will reach you in no time. Another advantage of this card processing facility is that starting an online business has become incredibly easy.

However, there are always ups and downs to everything. One disadvantage of using an online credit card is fraud of online credit card. There are two ways in which this fraud can take place. The first is regarding the company who owns the website on which you made your credit card payment. This company could be a fake company, that is, it might take your payment and not deliver your product. They can also use the details that you fill for payment with fraudulent intentions. Fraudsters who steal online credit card details by using different devices/software cause the second fraud. These details can captured when you supply the site with these for your online payment. These softwares are called spyware and the fraudsters use them for online spying. The spyware either takes screenshots of what you do on your computer or capture keystrokes and then passes this information to a spy. There are, thankfully, many anti-spyware softwares which are available to counter such actions.

Overall, the ability to use online credit cards is a terrific advantage to us. But in doing this, strict caution must be exercised and care should be taken while disclosing details. Do not use internet cafes to make card payments and access bank accounts unless you are positively sure about the reliability of the caf

ROBBIE