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Third Party Credit Card Processors
By: Developer Shed
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    Third Party Credit Card Processors
    by John Lynch

    Accept Credit Cards Online without a Merchant Account

    It is often assumed if you want to accept credit
    cards on your website that you must have a merchant
    account. This is not the case. You can accept credit
    cards with a Third Party credit card processor.

    1) What is a Third Party Credit Card Processor?

    A Third Party credit card processor is a company that
    will accept credit card payments on behalf of you
    or your company. The payments your customers make are
    processed through the Third Party's own merchant
    account, and you the retailer is paid (minus a commission
    fee) by the Third Party processor.

    No need to pay for expensive processing software, monthly
    fees or minimum transaction fees. As you only pay a
    percentage fee on a sale, you cannot lose money.

    2) Should I have a Merchant Account or Third Party

    For most businesses this decision will be made according
    to the size of the company. Most small businesses do not
    need their own merchant account.

    Small businesses are better off with a Third Party
    processor. The advantage is that when you sell your
    products, the Third Party processor takes care of the
    payment by checking the card, processing it, and sending
    you a monthly check.

    Larger businesses with a bigger turnover are likely to
    need a full merchant account. You will pay a bigger
    set-up fee for an online merchant account but pay less
    per transaction than with a Third Party processor.
    So recouping your initial outlay.

    So there it is, unless you have a large business it is
    possible to accept credit cards online with a Third
    Party processor.

    (c) John Lynch 2004

    [ For details of Third Party credit card processors and
    online merchant accounts visit:
    processing.html ]
    DISCLAIMER: The content provided in this article is not warranted or guaranteed by Developer Shed, Inc. The content provided is intended for entertainment and/or educational purposes in order to introduce to the reader key ideas, concepts, and/or product reviews. As such it is incumbent upon the reader to employ real-world tactics for security and implementation of best practices. We are not liable for any negative consequences that may result from implementing any information covered in our articles or tutorials. If this is a hardware review, it is not recommended to open and/or modify your hardware.

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