Uses of Internet Merchant Accounts
As suggested by the name, Internet merchant accounts enable a merchant to process credit/debit card and other electronic payment options through the internet. The primary criterion obviously requires the businessman to get merchant services from a bank or other financial institutions and open an account with them. It’s However, a fact that most banks do not provide Internet merchant services. The reason is pretty simple. Physical transaction with credit involves the customer’s signature; he is personally present when his/her card is being swiped. This is not the case when credit cards are used to make online purchases. There is always a slight risk of frauds and chargebacks and banks are not willing to take this additional risk. There are however a number of third party and independent Internet Merchant service providers with whom you can open an account.
Internet merchant accounts are however costlier than normal merchant accounts. Understanding the various fees and other charges, of your service providers can be a pretty complicated process. Characteristically, an Internet merchant account will have these costs.
- Application Fee: This fee is used cover by service providers to cover their expenses for processing the application of the prospective client. In some cases even if you don’t open an account with them, you still have to pay the initial payment.
- Statement Fee: Statement fee is a norm with almost all merchant service providers. It’s just another way of making some extra profit.
- Discount rate: Discount rate is actually the sales commission, earned by the service provider on every sale. This is usually 3% to 4%, of a particular sale.
Now by logging onto the website of AMS you can browse through some of the unique merchant account service benefits offered by our site. We are the biggest merchant account service providers currently operating on the net and are an ongoing member of the Better Business Bureau. By applying for an Internet merchant account with AMS (AMS) you virtually assure yourself of getting the lowest priced deal in the market. Just click the Price Bust option find out more about this claim. Moreover, because we work without the presence of any middlemen or agents, so we are always able function with utmost efficiency while keeping our costs the lowest in market. This means that we are not charging a number of fees, that are charged by other providers and this includes the hefty termination fees as well. To find out more about our Internet merchant services, visit us at www.merchantaccounts.co.