Having An Ecommerce Merchant Account: The Basics

Having an online business can sometimes be as hard as – if not harder than – a traditional, brick-and-mortar outlet, and there are a lot of differences between the two that can cause issues, but one thing you must understand clearly and perfectly when you have an Internet-based business is the concept of the ecommerce merchant account. Without an ecommerce account, your online business is up the river without a paddle. It won’t be able to process your customers’ or clients’ payments, and therefore, you can’t make any money. Can you see why having – and understanding – your ecommerce account is so vital to the ultimate success of your online store?

There are a lot of different kinds of merchant accounts in this world, however, such as mobile accounts, mail- and telephone-order accounts, and even the standard, conventional merchant accounts which you can physically see as you check out at any classic grocery, for instance, in the point-of-sale (POS) terminal used to swipe your card, transmit the data, and complete the transaction. An ecommerce account, however, differs from these other kinds of merchant accounts in that it is specifically designed to support and interact with your online infrastructure.

If you’ve done any homework regarding the set up of your new online business – and we do hope you have – you will know a little bit about (or at least heard of) what are called shopping carts and payment gateways. These are tools that allow your ecommerce merchant account to function. The first tool, the shopping cart, is a program designed to assist your shopper online as they browse your store, put things in their “basket,” quantify them, make changes to colors, sizes, or whatever other criteria you input, and ultimately, check them out.

This is when the payment gateway comes into the picture. When the buyer enters his or her personal credit card information into your system, the payment gateway encrypts and transmits this data across the network quickly and securely, facilitating your ecommerce merchant account transaction in a matter of seconds. These are just a few of the differences between most varieties of merchant accounts out there and the classic ecommerce merchant account for most online businesses out there.

If you would like to know more about ecommerce merchant accounts, or if you would like an ecommerce account of your own through Vision Payment Solutions, then call us at the number at the top of the screen today, and get started toward a more profitable system of processing.