Merchant Accounts

E-Commerce Merchant Accounts
Secure Payment Gateways
Any Primary eCommerce Internet Business
This type of merchant account is required by internet merchants or businesses. They are considered Card-Not-Present transactions. Each transaction is required to satisfy basic unique cardholder verification parameters. (Billing Address, Zipcode, and Card Code). These accounts are underwritten specifically to address the unique risk associated with payment transactions over the internet.  Most processors today are able to underwrite and issue eCommerce/Internet merchant accounts.  Although an eCommerce business merchant account is also called an internet merchant account, not all internet merchant accounts are categorized as eCommerce.  Uniquely, an eCommerce business is one that primarily conducts business through a  website. The website gives information, allows the customer to select products and or services, and then pay for them right at the website’s checkout.  The eCommerce business employs a secure payment gateway and or shopping cart ASP or SAAS which allows the customer to execute a credit card, check card, or electronic check transaction in a secure real-time virtual location without human intervention.

Internet Merchant Accounts
Internet Virtual Terminals
Any Internet/ Card-Not-Present/ MOTO/ Card-Present(Keyed)
This type of merchant account can be used for ANY merchant that is using a secure payment gateway service to process payment transactions. The transactions are considered Card-Not-Present. Each transaction is required to satisfy basic unique cardholder verification parameters (Billing Address, Zipcode, and Card Code).   The transaction type can be an eCommerce, Mail Order, Phone Order, or card present manually entered, or  keyed transaction. The merchant will need to use a secure payment gateway’s virtual terminal to process single transaction, or  multiple one time transactions in what’s called a batch. Merchants who have recurring transactions to process can do so by the batch method, but are encourage to use the recurring payment functionality within the payment gateway they use.

MOTO (Mail Order/Telephone Order) Merchant Accounts
Internet Virtual Terminals/POS Software/Touch-Tone Phones(LAN/Cell)
Occasional Transaction Merchant/ Home-Party Businesses/Catalog Business
This type of merchant account is required for the merchant that is keying in transactions. The transactions are considered Card-Not-Present.  Each transaction is required to satisfy basic unique cardholder verification parameters (Billing Address, Zipcode, and Card Code). Traditionally these merchants used software, and telemarketing services to process transactions received over the phone or in the mail.  Few purchases are  processed in that manner today.

Today’s MOTO merchant may be a single person business that uses a cell phone only to process payments manually through a virtual terminal. The transactions may only require cardholder zipcode verification. Other MOTO merchants are really wireless mobile merchants with the choice of manual or swipe transaction entry.

Traditional Retail Merchant Accounts
POS Terminals/Wireless POS Terminals
Face to Face/Retail/Restaurant/Salon/Medical Office/ Professional Services
This type of merchant account is required by retail merchants or businesses that conduct face to face transactions 70%-80% of the time. They are considered Card-Present transactions.  The retail merchant’s transactions are normally processed through a POS Terminal. (Point-of-Sale Terminal). The terminals can be  LAN Line, IP, or Wireless.  Each transaction satisfies the basic unique cardholder verification parameters, by just swiping the card. Often the merchant will request to see photo ID to verify a signature and card name match as an added precaution to protect the cardholders identity. These accounts are the easily underwritten and effectively address the changing risk associated with face to face payment transactions.  Although a retail business merchant account is also called a swipe merchant account, not all swipe merchant accounts are categorized as retail.  Uniquely, a retail, restaurant, service business, salon, doctors office, or gas station business is one that primarily conducts  no less than 70%-80% of its business face to face with its customers. The brick and mortal, or physical location of the business is where the payment transaction takes place with human interaction.

Non-Traditional SWIPE Merchant Accounts
Unique Wireless /VPOS/ Cellular Phones/ eMobile(Wireless+Internet)
Salesmen/Taxi Drivers/Repair Professionals/MLM’s/One-Time Service Providers
This is a retail merchant account for the many POS solutions that permit a merchant to swipe a card without using a traditional POS terminal. A swipe merchant account is recommended today for ANY merchant or business that swipes the customers card besides the traditional brick and mortar retail locations.   There is a growing number of mobile swipe merchants. The swipe merchant’s  POS (Point-of-Sale) options are many (Wireless POS terminals, Cell Phones, Cell Phones with Peripherals, wireless terminals with internet access,
Virtual point of sale solutions, and countless others).