An online store can accept credit card payments, even without a merchant account, by setting up a third-party credit card processor, also known as an online merchant account.

Many businesses now accept credit cards just to increase their cash flow and sales, and to invite more customers who prefer to pay with their credit cards. Most of the online stores today are open for this innovation and it will greatly help their businesses to grow.

For online retailers to accept credit cards, they may need to open an account or a third-party card processor, also known as a payment gateway or online merchant account.

Getting an account is the first option to get a more flexible payment option for your online business. Although getting it is expensive and not easy, most of the traders still want to acquire an account because of its many benefits such as more customers, secure transactions and also increases trading potential in the global market.

Third party processors or online account is a great option

There is also another option for your business to accept credit cards and that is to purchase a third party card processor or ‘online’ merchant account. It offers good services regarding your company’s credit card processing needs, just like a normal account. You can choose from a variety of payment gateways available on the Internet, such as PayPal, ClickBank, or PaySystems.

Third party card processors or payment gateways are establishments that accept business credit card payments or orders online. They pretty much do all of the online store payment processing and transactions and will send the funds to your regular bank account. Most of these third party card processors also have services that are compatible with their online store such as a 24/7 customer service and support, a shopping cart script and they can also accept any other form of payment online.

Others may advertise that third party card processors are free, but in reality they are not. Their setup costs can be very low and some are free, but they get a small percentage of every transaction made on your account. Third-party card processors may charge you more with each sale than an account, but this is a good option for retailers who are on a budget and avoid the costs of setting up an account.

It is still the merchant’s choice whether to entrust the credit card processing needs of their business to a regular account or to a third-party processor. But for most online retailers, setting up an online account is a very good option to accept credit card payments. It’s easy, fast and it’s not expensive.