You must have a merchant account that is specifically designed for Internet transactions. If you have an existing merchant account, check with your acquiring institution to see if they can provide you with an Internet merchant account. Ensure that it can be set up to use a payment processor through the processors supported processing networks. Fees will vary, depending on the acquirer. Ask up front what types of fees are involved.
All acquirers charge a discount rate, which is a percentage of the transaction.
The process can take from one day to one month, and sometimes longer. Often the time will depend on the completeness of the information that you provide to the acquirer. To minimize the waiting period, be sure to provide complete information during the application process. Inc. All rights reserved.