Merchant Accounts

It is estimated that you can lose as much as 60 percent of your potential orders if your store is not set up to accept credit cards. However, in order to process credit cards directly through your website, you must establish an online Merchant Account. Due to the inherent "card not present" nature of online purchases, the business requirements and costs for establishing an Internet Merchant Account are much more restrictive than for point-of-sales establishments, and are often prohibitive for many companies. In addition, if not properly managed, excessive chargebacks and returns can result in a business losing its Merchant Account status and future ability to accept credit cards.

What is a Merchant Account?
A Merchant Account allows businesses to accept credit card payments from their buyers for their goods and services. Merchants can acquire a Merchant Account from either a bank, or an Independent Sales Organization (ISO). The Merchant Account provider is responsible for processing credit cards securely and depositing the funds into the Merchant's bank account. The Merchant in turn is responsible for providing the goods and services, as paid for by their Customer.

How can I get a Merchant Account?
For those companies that qualify, Inovium Electronic Funds can help you establish your own Merchant Account through our strategic partnership On Line Data Corp.
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