Updated: July 30, 2010
If you are going to set up shop on the Internet, you'll most likely need a payment provider. This type of provider allows you to accept credit cards online for payment. Usually these providers offer both Merchant and Gateway accounts, which are defined below.
Things to know when researching payment providers
These are some things to consider when shopping for a payment provider. DO your research ahead of time to avoid unexpected charges and problems later!
- What accounts do you need? A merchant account is what allows you to accept credit cards, while a Gateway account ties you to the Internet. So, you may already have a merchant account, if you are an offline retailer, or take cards over the phone. In that case, you just need a gateway account, which can then be tied to your merchant account.
- What are the costs? Pay close attention to the monthly fees and transaction fees. If you need a gateway AND merchant account, each one will have different fees. One good thing about CDG Commerce, is that they add on the Gateway account for free.
- Check integration with your cart. If you are installing a new shopping cart for your site, make sure the payment provider is supported. Most of the main shopping carts have modules written for the main providers, but check just to be sure.
- Do you need SSL at all? If you are taking simple payments, you might not need integration with a shopping cart at all - you could just send the user to a customized page hosted by the provider. These pages don't look at professional, but often get the job done. MOST payment providers offer customized pages / carts for checkout, but check if you want to use that feature.
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