An Internet merchant account, known commonly as an ecommerce merchant account by many, is the cornerstone of modern online economics. It is a specialized type of merchant account specifically designed to accommodate online business transactions and to help Internet shops and outlets grow and expand over time, much like any other efficient payment-processing solution. If you’ve ever shopped online before, you’ve interacted with a business that has an Internet merchant account. That’s how common they’ve become – and, consequently, how important they’ve become as well.
An Internet merchant account also requires a few separate criteria from the payment-processing plan and merchant account set-up and overall infrastructure that other kinds of merchant accounts, such as mobile, mail- or telephone-order, or standard POS (point-of-sale) terminal set-ups do not require: a payment gateway and a shopping cart.
With an Internet merchant account, a shopping cart is much like a shopping cart or basket in real life, only in that it allows customers and clients to gather, organize, and quantify their desired products and services. In this way, they have an organized system for shopping and conducting transactions with the Internet merchant account, and this provides a level of convenience and satisfaction – especially digitally speaking – to shoppers who prefer an efficient and timely system for shopping and checking out. Once they have gathered and quantified all their purchases, it’s time to check out – and time for the payment gateway to do its part of the Internet merchant account process.
A payment gateway is fundamentally a secure line for transmitting sensitive personal financial information across the Internet without the risk of hacking or theft. These problems can, of course, result in stolen identities, unauthorized purchases, and perhaps worse. The payment gateway encrypts the special data so that no one can hack it, meaning your customers’ and clients’ card numbers are safely stored elsewhere. With a reduced risk of fraud with your Internet merchant account, you can more easily maintain a safe and happy customer or client base, and even more importantly, grow that loyal patron base that you already have.
If you have further questions or concerns about Internet merchant accounts, or if you would like to set up the ideal Internet merchant account processing plan with Vision Payment Solutions today, simply call us at the number at the top of the screen, and you can be on your way toward an Internet merchant account of your own in no time!