Merchant Account Services for Online Payments
VMG specializes in advanced web development to create streamlined Internet applications that work as efficient online businesses. Collecting online payments is a great convenience for you and your customers - it is like having a teller work for you 24/7 and organize your accounting in the process.
In order to process online payments it is necessary to integrate a database platform (that contains your products and services) with the payment module that is networked with your online merchant account provider or a third party payment processing company.
Merchant account setup is a professional service that requires technical expertise as it is a direct link between your payment collection company and your web site. This service is recommended for businesses that require a permanent establishment in the marketplace.
If you are considering getting a merchant account for online payment processing, the major advantage includes lower transaction fees in the range of 2-4% per order. This can easily save thousands of dollars a year in comparison to 3rd party payment processors.
Merchant account setup involves a review and approval from a merchant account payment provider, database setup and integration, SSL certificate (secured site) installation, and monthly maintenance fees. This setup may be more complicated, but your return will be higher due to lower operating overhead.
A simpler option is to open an online third party payment processing account and the host company will collect payments on your behalf. The collected funds are then paid out to you as an online transfer or a mailed cheque. Since there is 3rd party involvement, the processing fees range between 6-11% per transaction. This online payment service is recommended for novice businesses and entrepreneurs who are dealing with limited online sales or transitioning into the online marketplace.
VMG is a leading web development company in Vancouver specializing in commercial web applications. Please contact our experts about the benefits of setting up online payment payment processing services for your business.
