Trading on the Internet, also known as e-commerce, has been growing since the inception of online shopping and the World Wide Web. Experts predict e-commerce purchases to reach an all-time high of $370 billion by 2017, and it’s no wonder, as e-commerce is convenient for both online shoppers and merchants. Some of your benefits as a merchant are that you would be able to sell your product 24 hours per day throughout the year, with minimal overhead expenses. Your reach would also be significantly higher as your customers can be located globally. There are several factors you need to take into account when selecting a credit card processor and opening an merchant account:


Selecting Your E-commerce Credit Card Processor

It’s important that you partner with the right company. It will ensure that you have the best rate/fees and highest level of support in the event of any contingency. These processors should:

  • Have ISO/MSP registration – Always ensure that your processor is registered so you are able to collect your charged funds when necessary.
  • It’s always beneficial to opt for a processor with accreditation from the Better Business Bureau (BBB). Accreditation from the BBB indicates that a processor has a good reputation where complaints are concerned.
  • Great customer service is never overrated. Before choosing a processor for your ecommerce credit card processing, call their customer service division to see how efficient and pleasant they are.
  • Ensure that they are PCI compliant. This will put you at ease, knowing that your customer’s confidential information will be secured and not leaked.
  • Choose a processor that excels at decreasing charge backs. Cut back on costs by selecting a provider that can help you reduce your charge backs when necessary.
  • Select a processor that offers the lowest rates. Painless offers the lowest rates and is an excellent merchant service provider.
  • Choose a service provider that does not charge exorbitant cancelation fees. Opt for a credit card processor that provides low or no cancellation fees. It’s always best to read their terms and conditions first.

Obtaining a Low Rate E-commerce Merchant Account for a High Risk Company

If you’re a merchant selling your products and service via a website, you’ll probably be classified as a high-risk company, as online transactions lack a physical card for swiping. You will then need to:

  • Apply for a merchant account that caters to e-commerce. You can do so via Painless, as they specialize in high-risk merchant accounts at the lowest rates and fes. They will help you obtain a highly secured reliable merchant account, complete with shopping cart and payment options, so you can trade with confidence.
  • Rates for high-risk companies are a low 1.99% . If you already have an account but want lower rates, upload your latest statement to the Painless Save by Switching Program to change your service provider.