How to accept credit cards on your website

By Duncan Isaksen-Loxton // 9 March 2010 // Comments: 2

The Red5 CMS will already contain all the tools you need to start accepting payments on your new website, but how do those payments make it into your bank account?

To get money from a customer credit card to your bank account you need to apply for an internet merchant facility from your bank, and use a payment gateway (such as SecurePay) to enable the transfer of funds.

The internet merchant facility is usually different from the merchant facility you may already have for taking EFTPOS and credit cards using a physical terminal.

The bank need to see how viable your online store is, make sure you are not involved in illegal activities such as pornography or unlicensed ticket sales, and making sure you are adhering to security best practice when accepting credit cards. This means on application they will ask to see need a number of supporting documents, including a full business plan and a profit estimate. Merchant facilities are usually free to set up, but will incur a charge for every transaction.

Each institution varies in its prices for internet merchant facilities, so shop around for the best prices, it may be worthwhile moving over in the long run.

Once the bank has approved your application you will receive a merchant ID and terminal ID that are used to configure your payment gateway.

Applying for a payment gateway requires all your banking details, and if you accept American Express, your AMEX merchant ID. Setup of a payment gateway usually takes around 48 hours, and once complete you are ready to get started by integrating your website with the payment gateway interface.

You should always ensure your website accepts and uses the Card Security Number for your protection and that of your customer.

If you use the Red5 CMS, integration is already available for SecurePay, a leading Australian payment gateway, therefore cutting out integration costs. Existing website merchants can also benefit from Red5's partnership with SecurePay by switching for great pricing, saving up to 10% on existing monthly and transaction fees.

 

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Exhilarating Blog! I am overwhelmed with your depiction. Thanks for giving out your creative mind's eye.

Posted by Batemans Bay Accommodation  05/08/2010 10:20 PM

Is it true? >>>Applying for a payment gateway requires all your banking details, and if you accept American Express, your AMEX merchant ID. Setup of a payment gateway usually takes around 48 hours, and once complete you are ready to get started by integrating your website with the payment gateway interface.

You should always ensure your website accepts and uses the Card Security Number for your protection and that of your customer.

If you use the Red5 CMS, integration is already available for SecurePay, a leading Australian payment gateway, therefore cutting out integration costs. Existing website merchants can also benefit from Red5's partnership with SecurePay by switching for great pricing, saving up to 10% on existing monthly and transaction fees. plz mention

Posted by testking 640-802  04/11/2010 5:40 PM
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