What is a business account?

A Business Account is an account that allows traders to accept credit card payments. They can be obtained through a bank, credit card companies or other payments processor. Every trader who wants to accept credit card orders must create a business account.

There are three main types of business accounts from which you can choose:

retail business accounts : This account type usually offers the lowest transaction fee, but often has restrictive rules. Retail trade accounts require a very high percentage of credit card sales to be made with a "present card" and the card "run" by handing over a physical credit card terminal. Retail accounts are usually associated with businesses such as restaurants, grocery stores and small hotels. This type of business account is best for traders who do not plan to do business through mail or online at any moment.

Moto Merchant Accounts : Mail order - phone calls ER tends to charge a higher level of transactions and are used when credit cards cannot be physically over -over. Traders usually process credit card payments by entering credit card information directly in the terminal installed on a personal computer or via a normal web browser to process transactions on the provider's website.

Internet accounts : Internet business accounts are similar to moto accounts, but can only be used for Internet transactions. Internet account traders use a virtual terminal or payment service gate to process credit card payments. These payment services gates can now be included in most Business Web Hosting packages and have a custom -made designed HTML forms or a shopping cart application.

It is important to select the correct type of business account and processingPayment Acetel for the kind of business that you will be able to work. Although there are many payment services providers, it is good to read their contractual terms very carefully, as many of them charge exaggerated fees and have strict transactions rules. If something questionable sounds, ask and do some research before you agree with anything.