If you find incomplete, unclear, or conflicting information, ask questions.

If your sales representative is more interested in getting your signature than helping you understand your commitments, ask for another representative or go elsewhere. There are many, many Internet merchant account options available. You need not be trapped into one that is uncomfortable for you.

Based on my own experience, I developed a list of seven multi-part questions to ask a potential merchant account provider. Before contacting a provider about fees and agreement details, you may also want to familiarize yourself with all of the potential fees associated with an Internet Merchant Account. There is a list here, about half way down the page: http://www.take-payments-online.com/InternetMerchantAccount.html

7 Questions to Ask

Understanding the answers to these questions before signing an application or agreement will help make for a solid partnership between you and your account provider:

1. Can I accept credit cards both online and offline?

Do I need to get separate authorizations or permissions when setting up my account for different types of transaction (Internet, retail, phone orders, etc.)?

What other additional fees are involved if I accept both online and offline credit card charges?

2. Can I accept online payments using methods other than Mastercard and Visa (Discover, American Express, Diner's Club, online checks, debit cards, etc.)?

If so, what are the fees and do I need to do anything to "activate" those payment methods?

3. What are the different discount rates and fees for different types of charges (Internet, in person, telephone, mail, etc.)?

4. What are the other fees related to this account - yearly, set-up, application, monthly minimum, statement, support, cancellation, discount, per-transaction, gateway access fees, card reject fee?

Are these subject to change?

Are there any other fees?

5. Do I process charges manually or automatically?

If manually, is it possible to get automatic processing?

If so, do you provide a secure online payment gateway?

How do I do it and what extra charges will I pay?

6. What other software and services do I need to become fully ecommerce enabled online (such as secure gateway provider, etc.)?

Do you have a list of compatible or preferred providers?

7. Do I need additional hardware or software?

If so, what is the cost and how do I get it?

Ask these questions and establishing a mutually comfortable relationship with your Internet Merchant Account provider from the start. It will help you avoid "traps" and lay the groundwork for a long, solid partnership.

Bobette Kyle draws upon 10+ years of Marketing/Executive experience, Marketing MBA, and online marketing research in her writing. Her book, "How Much for Just the Spider? Strategic Web Site Marketing for Small-Budget Businesses", shows how to better find, target, and attract Web customers. Read about it at WebSiteMarketingPlan.com - http://WebSiteMarketingPlan.com.

Copyright 2003 Bobette Kyle. All rights reserved.