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E-Commerce | Commerce Packages
Merchant Account | Online Payment Processing
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What is a merchant account? Why do I need one?
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How does it work?
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How do I get a merchant account?
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Would it be easier to go to my local bank to get a merchant
account?
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How long does it take to get a merchant account?
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Which credit cards can I accept?
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What kind of equipment do I need to process credit cards?
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How do I know that I'm getting a "good deal"?
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Can I use my merchant account to accept credit card payment
in my online store? Is it safe to process credit cards over the Internet?
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The fraud protection features sound great, but what about
other features?
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What kind of payment solutions are available through?
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Will the LinkPoint Secure Payment Gateway
work with my shopping cart?
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Internet technology changes so fast, will I be able to
use my merchant account with my Internet store in the future??
1.
What is a merchant account? Why do I need one?
A merchant account gives a business the ability to accept credit cards
as payment for the company's goods and services. This provides your customers
with an extremely popular payment option, beyond cash and checks.
Studies have shown that merchants can typically increase their business
by 30 - 70% or more - sometimes even hundreds of percent! Plus, customers
are more willing to purchase higher cost goods using a payment method
that offers them repayment flexibility. It is projected that by 2002,
credit card transactions will account for 98% of Internet sales, equaling
$55.6 billion!
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2. How does it work?
The merchant account provider authorizes the credit card transfer from
your customer and deposits the funds for their purchases right into your
business checking account, typically within two business days.
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3. How do I get a merchant account?
Merchant accounts are available from some banks and other independent
providers.
They offer small-to-mid-sized business merchants
a variety of services including credit card, electronic check, Internet
transaction services, and more. USTINET has an exceptional merchant account
program offer available to its clients through Harbor-Net. Just click
on the hotlink above for more information.
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4. Would it be easier to go to my local bank to get
a merchant account?
Many local banks do not set up merchant accounts, but have relationships
with companies Harbor-Net. Also, in addition to offering
outstanding programs, Harbor-Net works with the kinds of
businesses that most banks consider risky and shy away from, such as new
businesses, Internet, phone and mail order businesses.
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5. How long does it take to get a merchant account?
Application approval and set-up can be completed in as little as 24 hours
through the special Harbor-Net program available to USTINET clients.
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6. Which credit cards can I accept?
The most popular credit cards - MasterCard, Visa and American Express.
Harbor-Net can also support all other major credit cards, including Discover
and Diners Club.
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7. What kind of equipment do I need to process credit
cards?
A computer terminal / PC with Internet access is used for Internet, mail
and telephone orders.
In the retail environment, a specialized terminal/printer designed to
read the magnetic strip on the back of the customer's credit card is used.
This can provide the customer with a paper receipt at the time of purchase.
An imprinter, which takes a physical copy of the customers credit card,
may also be used.
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8. How do I know that I'm getting a "good deal"?
The Harbor-Net
program offers an outstanding value across the board -
functionality, security, reporting, initial set-up and low residual costs.
It is important to consider all costs associated with the merchant account
when comparing programs. For example, some programs offer low set-up costs,
but have very high fees (discount rates and per transaction fees). Some processors
even charge annual fees! These programs result in significantly higher costs
to the merchant, particularly after the first year. View the comparison
chart with one of our major competitors to see how we rank!
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9. Can I use my merchant account to accept credit card
payment in my online store? Is it safe to process credit cards over the
Internet?
Yes, Harbor-Net's Secure Socket Layer Application Programming
Interface (SSL API) offers Internet Service Providers an encrypted connection
to its Secure Payment Engine. By using the Secure Payment Gateway
technology, all Harbor-Net merchants receive fraud screening
on each transaction and real-time reporting via their Web browser.
For the merchant who wants to get online fast with a limited start-up
budget, Harbor-Net is the best choice.
Using Harbor-Net's SSL API, all orders and payment information
sent from the merchant's Web site will be encrypted using industry standard
RC4 1024-bit encryption with SSL Version 3. This encrypted and secure
data is routed to Harbor-Net, decrypted and processed.
All processed information (Approved/Declined transactions) is then re-encrypted
and sent securely back to the Web site. Once at the Web server, it is
decrypted and displayed to the consumer. Also, order confirmation e-mails
are sent to the consumer and to the merchant. The Harbor-Net SSL API guarantees that the orders and payment information generated by
the merchant's Web site remains totally secure.
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10. The fraud protection features sound great, but
what about other features?
Using the following e-commerce modules, Web customers will be able to
order products, pay for them and arrange for shipment all in real-time.
These modules include real-time:
- Fraud Protection
- Shipping
- Tax Calculation
- Business Reports
Merchants also have
the option of choosing auto-settlement or merchant settlement. Taking
advantage of the Harbor-Net Business Reporting module allows
the merchant to view critical ordering and financial information all from
a single source - their Web browser. And, all of these modules are included
with your Harbor-Net merchant account.
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11. What kind of payment solutions are available through
Harbor-Net?
Three unique and user-friendly payment solutions are available to serve
the e-commerce needs of any merchant:
Virtual LinkPoint allows merchants to manually enter credit card
transactions on a PC through a secure connection to the Internet. Virtual
LinkPoint is the Internet equivalent of a point-of-sale (POS) terminal
or PC-based transaction software without the hardware/software and maintenance
expenses. Sales, returns, authorizations and real-time reports are all
provided by Virtual LinkPoint.
LinkPoint HTML is a simple, yet sophisticated product and requires
a little hands-on work by the merchant to use. It wraps around the merchant's
existing Web site, allowing shoppers to select and order products and
securely pay for them with a credit card. All the same services provided
by the Virtual LinkPoint are available with the LinkPoint HTML.
LinkPoint API is the most sophisticated level of service, enabling
software companies, Commerce Service Providers (CSPs), Internet Service
Providers (ISPs) or cyber-wise merchants to add secure sockets layer (SSL)
payment capabilities to their products, services or custom storefronts.
Additional features, such as tax and shipping calculations and electronic
softgood download (ESD) - i.e., software, pictures or text - are included.
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12. Will the
LinkPoint Secure Payment
Gateway work with my shopping cart?
The LinkPoint Secure Payment Gateway works with a wide variety
of shopping carts. USTINET offers a shopping cart that has already been
integrated with the LinkPoint Secure Payment Gateway and fully
tested. It is ready to go!
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13. Internet technology changes so fast, will I be
able to use my merchant account with my Internet store in the future?
Absolutely. As Harbor-Net upgrades its products in the future,
merchants will receive free upgrades to keep them on the cutting edge.
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