E-Commerce Information & Tips

Accepting Credit Cards Online

Marketing studies show that you'll lose 60 to 80 percent of your potential orders if your Web site is not set up to accept credit cards.  If you offer credit card payment, not only will you receive more orders, those orders will be substantially larger.  Credit cards enable impulse buying, reassure customers of your legitimacy, and simplify your billing.

Credit cards still reign as the leading method of payment for online purchases, but other payment options are available.  Your product and your customers' buying preferences will influence which payment methods you accept.  Offering multiple payment options on your Web site, if you can afford it and maintain your profit margin, is a means to increase sales by increasing customer convenience and confidence. Many alternative methods are better suited to micropayments, charges under $1 (U.S.), because the processing costs are often lower and credit card merchant account fees don't apply.

Third Party Processors that Captured Funds

To capture funds via a credit card you must establish a processor such as CCNow, PayPal, ProPay or 2CheckOut. These processors will charge you some combination of setup fees, transaction fees, and "discount rates" (a percentage taken from each order). Some of these providers will not allow a large volume of purchases to be made when a card is not present, such as for charges made over the Internet or by phone, fax, or mail. If you have such a processor, you will need to obtain a separate merchant account to process your online transactions. This situation arises because financial institutions and the Visa/MasterCard card associations have different criteria for evaluating the potential risk involved in credit card transactions in which the card is not present.

Merchant Accounts

To accept credit cards under your own business name you will need a merchant account. A merchant account is simply a money pipeline that can put credit card funds directly into your own bank account. You can ask your bank about obtaining a merchant account - it's pretty easy, especially if you have an existing company.

There are monthly fees associated with your merchant account; a monthly fee, transaction fees, and a discount rate to be a credit card merchant.

 

Gateway for Accepting Credit Cards

This is the layer of E-Commerce that provides merchants with the ability to add secure, real-time ordering functionality to their Web site (this is built into some of the online processors). This back-end component of your E-Commerce Web site collects the order information and runs the transaction. Once the transaction is approved, the funds are transferred to the merchant account, as an incoming deposit, usually within 24 hours (this time varies, check with your gateway).  The merchant is provided with real-time reporting as sales information is passed from the merchants site to the Secure Payment Gateway (your processor). If you choose to accept credit cards online we can suggest a few different Gateways and set you up with companies already familiar Keli E design.  Let us know and we'll have an account representative contact you.

What If I Don't Want to Use Credit Cards?

That is fine too!  Your order information can be E-mailed to you - all secure! You can then process your orders as you normally would.  We also suggest posting a 1-800# and/or a fax form on your Web site to give your customer other ordering options.

 



FAQ

Common Questions about E-Commerce:

What is E-Commerce?
What are the components that build an E-Commerce web site?
What is SSL or Secure Sockets Layer? How does it work?
Can I use your secure certificate and SSL connection?
How can I use SSL for secure transmission?
What is shopping cart software?
What is a payment gateway?
Must I have a merchant account and payment gateway to do E-Commerce?


What is E-Commerce?

E-Commerce (a.k.a. electronic commerce, EC, Ebusiness, Etailing) is the buying and selling of goods and services on the Internet or more specifically the World Wide Web.


What are the components that build an E-Commerce Web site?

a) A product to sell
b) A Web presense to sell it from
c) Shopping cart software, and if you want to process credit cards online
d) Secure Sockets layer enabled, 
e) A payment gateway
f) A merchant account

What is SSL or Secure Sockets Layer? How does it work?

"SSL" stands for Secure Sockets Layer. It is a security protocol that encrypts all of your connections with a web server. SSL thwarts eavesdroppers who could "sniff" your internet packets for sensitive information such as passwords and credit card numbers. Thus, SSL has made on-line commerce viable for all Web users.

Can I use your secure certificate and SSL connection?

For all Miva hosting plans the certificate is included in the cost of your monthly hosting.

Note: Pages constructed in MS FrontPage can not be made secure using the above manner, because FrontPage webbots do not work in the secure sockets layer.

How can I use SSL for secure transmission?

If you are on any of our E-Commerce hosting plans, you will have SSL encryption included for free with your shopping cart. If you use the Mals free shopping cart, the SSL is free there too.

What is shopping cart software?

Shopping cart software acts as an online store's catalog and ordering process. Typically, it allows a consumer to browse the Web site, select items for purchase as they browse, review what they have selected; make necessary modifications or additions; and purchase the merchandise. 

What is a payment gateway?

A payment gateway is simply software that is hosted on a server that links an online store to a process that verifies that a customer who is placing a credit card order has the credit available and that the order should be accepted. Later, when the merchant is ready to submit the charges for processing, the payment gateway accepts them and submits the charges to a payment processor who facilitates the transfer of funds to the merchant.

Must I have a merchant account and payment gateway to do E-Commerce?

Yes you will need a merchant account to accept credit cards. However you can do without a payment gateway.


If you would like us to completely get your store up and running - post product pictures, product information (cost and shipping weight), customize your look, etc... we will charge you a per hour consulting fee.

 

 

 

 

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7504 Bear Canyon NE Suite 8
Albuquerque, New Mexico 87109
505 822 8407

 

1/21/08