Archive for April, 2009

Merchant Accounts and Online Payment Gateways

Monday, April 27th, 2009

If you’re going to do business online it’s important you have a merchant account solution that fits all of your businesses needs. In addition to setting up an internet merchant account, you’ll also need to decide which type of online payment gateway you’ll need.

If you take orders over the phone or face to face, you need the ability to manually process credit cards as well as take them on your website. It’s important you choose a payment gateway that has a virtual terminal feature. A virtual terminal allows the merchant to manually process credit cards by logging into their gateway and filling out a secure payment form. Most virtual terminals also allow the merchant to email their customer a credit card receipt once the transaction has been processed.

Do you take checks? If your customer base likes to pay with checks then make sure you choose an internet payment gateway that supports e-checks as well as credit card processing. Most gateways support e-checks but normally charge additional fees for the service – so be sure to ask about e-check processing fees.

How much does an online payment gateway cost? There are normally 2 fees associated with an online payment gateway. You pay a monthly gateway fee that can range from $15-$50 per month, as well as a transaction fee that can range from $.05-$0.20. Some merchant account companies will even charge a license or set up fee for the gateway. The Transaction Group offers cheap merchant accounts so we waive the license fee on all AuthorizeNet payment gateways.

For more information about Authorize Net online payment gateways, click here or call us today at 888-383-8056.

Internet Merchant Account Approved? Next Steps…

Tuesday, April 14th, 2009

Congratulations! You’ve taken that first big step by setting up an internet merchant account for credit card processing. Now that you’ve been approved, what do you do next?

1.       Activate your AuthorizeNet online payment gateway – once your internet merchant account has been approved, you’ll receive an email from Authorize Net with gateway activation instructions. You must activate the online payment gateway before you’ll be able to process credit card transactions or link AuthorizeNet to your shopping cart. Activating your AuthorizeNet account will take approximately 10-15 minutes. Be sure to have your checking account information handy as well as your federal tax id or social security number if you’re a sole proprietor. Once you’ve activated AuthorizeNet, the online payment gateway will be in test mode.

2.       Link Authorize Net to your internet merchant account’s shopping cart – you’ll need to obtain your API Login ID and transaction key in order to link Authorize Net to your shopping cart. Login to AuthorizeNet and click on the settings link on the left side of the page. On the settings page you’ll see a link in the security section named API Login ID/Transaction Key. Click on this link to obtain your API Login ID & Transaction Key. You’ll be prompted to enter a secret question and answer which you established during the AuthorizeNet activation step. Once you enter this information, Authorize Net will provide you with the API Login ID and Transaction Key. The API Login ID & Transaction Key need to be entered into your shopping cart, which will create the secure connection.

3.       Take the online payment gateway out of test mode – once you’ve activated AuthorizeNet and linked it to your shopping cart, don’t forget to take the online payment gateway out of test mode. You’ll see a big red bar going across your screen whenever Authorize Net is in test mode. You can take the online payment gateway out of test mode by clicking on the “test mode” link on the right side. Or, click on the settings link and you’ll see a link that says “test mode” in the middle of the page.

If you ever have questions about your AuthorizeNet online payment gateway for your internet merchant account, you can call them directly at 1-888-323-4289 or CLICK HERE.

Michael L. Rupkalvis

The Transaction Group