Internet Merchant Accounts
Online Merchant Accounts
I already have a retail merchant account, can I use this for the internet?
No. Retail merchant accounts cannot be used to receive payments for Internet payments. If you have a brick-and-mortar business and want to sell your products on a website, you will need to apply for an Internet merchant account. The difference between a standard-retail merchant account and a web-based merchant account is that the customer and credit card are not physically present. There is no assurance that the cardholder is initiating the transaction, thus making it riskier for the underwriting bank. As a result, you will pay a higher cost to accept credit cards online because the possibility of fraud is increased.
In most cases the two are separate and will only incur one set-up cost at initial sign up. You would normally only pay the monthly fee to add the Internet merchant account and set up costs is a one-time deal.
If you have any more questions please call us toll free or fill out the application and we would love to talk to you and answer any questions you may have.
Merchant Account Questions
Below are some of the most important questions and answers on how to prepare
yourself for the world of merchant accounts and credit card processing.
What are some important questions to ask before signing up for a merchant account?
What is an explanation of a merchant account?
How much do I have to pay for a merchant account cost?
Why should I consider Fasttransact for my merchant account?
How many merchant accounts can someone have?
Is having a merchant account the best way to accept online transactions or should I use a PC?
How long does the merchant account approval process take?
Do you accept non-U.S. merchants?
Do you have any hidden fees for merchant accounts?
How fast can you set up my merchant account to accept credit cards?
Do you decline any merchant account applications or online processing applications?
Can I process for more than one business with my merchant account?
Do I have to be a U.S. citizen to open a merchant account?
What if I want to open a Canadian merchant account?
What are your fees and costs for merchant account processing?
What are the underwriting requirements to open a merchant account?
What kinds of typical startup costs can I expect in obtaining a merchant account?
I already have a retail merchant account, can I use this for internet processing?
Are there merchant application fees involved?
How do I apply for a merchant account?
How long will it take for my merchant application to be processed?
What if my merchant application is not approved?
Can you describe the merchant application process?
Does Fasttransact require a contract or is it month to month?
Will you charge me for a second merchant account?