Third party payment
There are several possible answers to your question, which ultimately depend on your activity as a merchant. Generally speaking, obtaining a merchant account is a relatively simple task, particularly if your business is located in the US.
Without knowing some specific details about your particular business situation, however, I’m limited to providing you with a basic overview regarding how to choose a payment gateway/merchant account provider and some articles at the end of my answer where you can find more information about payment gateways and payment processing. As I mentioned previously, obtaining a merchant account is a simple process if you are located in the US. If your goal is to provide international services, however, you’ll need to establish an “official” presence in each country you plan to provide services to. Meaning, you’ll need a merchant account in each of those countries, which may require you to partner with several different payment processors. Because many payment gateway providers will also offer to open a merchant account for you as part of their services, a better option might be to partner with a payment gateway provider who can provide cross-border transactions and currency conversions. In order to use your merchant account, you will need some essential partnerships, such as partnership with a payment gateway. Large payment platforms, such as Acardpay, often offer both merchant account opening in conjunction with payment gateway services. In these cases, it is important to understand, what functionality you expect from the payment gateway. Lastly, if you happen to be a startup, you may encounter some difficulties in finding a payment processor willing to work with you. This is a fairly common issue and is primarily related to the historical failure statistics of startups. Further, because startups typically generate a low number of sales transactions initially, there isn’t much profit to be made by the payment processor. So, you may be limited to just one or two who are amenable to working with a startup. Summary: If you are in the US, obtaining a merchant account is a pretty straightforward process and some payment gateways will offer to open a merchant account for you as part of their services. Startups, however, may face additional challenges in finding a payment gateway willing to work with them.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
December 2018
Categories |