Merchant Accounts & Payment Processing
HEROweb recommends the following options for accepting credit cards on your site. Typically a payment processing company will have an application and underwriting process. They will want to review some of your financial records. Normally, the approval process will take a few days to a week, but it can take longer in some cases.
PayJunction
PayJunction is an all-in-one solution where merchant account and payment gateway are both provided by the same company. Good, competitive rates. Virtual terminal for accepting credit cards via phone, fax, and mail. Does not at this time require you to sign up for a quarterly PCI scanning contract, which can cost you $5-$20 a month.
Paypal Payments Advanced
Paypal Payments Advanced is likely the best merchant account option for you if you are on a tight budget. At $5/mo. plus transaction fees it is very affordable for a low transaction volume website.
Any Processor that Supports the Authorize.net Payment Gateway
Whether you want to set up a merchant account with you business bank or would like to shop around for a merchant account, you can likely tell them that you need your merchant accounts set up to work with Authorize.net and they should be able to provide you with direction. Merchant processors across the country support Authorize.net.
PayPal Payment Pro
PayPal Payment Pro is an all-in-one solution where merchant account and payment gateway are both provided by the same company. Good, competitive rates. Virtual terminal for accepting credit cards via phone, fax, and mail.
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Quick Glossary
Merchant Account - A type of bank account that allows merchants to accept payments via credit cards.
Payment Gateway - A technology that connects with a website to authorize credit card payments. When a shopper clicks to submit an order on a website, the website securely sends the cardholder data through the Gateway to authorize the card and then returns a response to the website. It is the online equivalent of a card swiping machine located in most retail outlets.
PCI (Payment Card Industry) Compliance - The standards put in place by the credit card companies to make sure that merchants have strong security standards.
PCI Scanning - Stands for "Payment Card Industry" scanning. It involves having a PCI ASV (Approved Scanning Vendor) scan any and all IP addresses that the public has access to, related to your website or your site's transaction process.
