Home » How to Get an Internet Merchant Account for Online Credit Card Processing

If you want to accept credit card payments online, you’ll need an internet merchant account. This type of merchant account allows businesses to process credit and debit card transactions securely over the internet.

If you’re in a rush and need reliable internet merchant account services, click on the image below. We will set you up with an account so you can start processing payments immediately.

In this guide, we’ll walk you through everything you need to know about setting up an Internet merchant account, including how to choose the proper payment provider, what fees to expect, and how to get started quickly and easily.

QUICK TAKEAWAYS

• Internet merchant accounts are essential for businesses that want to accept online credit and debit card payments securely.
• Businesses can obtain an Internet merchant account by applying online with various merchant aggregators or by speaking with a Payment Service Provider (PSP), like SecureGlobalPay, each offering different benefits.
• Setting up an Internet merchant account involves choosing a provider, submitting business details, and integrating the account with your payment systems.
• SecureGlobalPay offers competitive pricing, strong security features, and easy integration, making it a strong choice for businesses looking to start accepting online payments.

What is an Internet merchant account?

An Internet merchant account, sometimes referred to as an online merchant account, is a type of bank account that enables businesses to accept online credit and debit card payments. It acts as a bridge between your cardholders’ bank account and your business bank account, ensuring that transactions are processed securely and funds are deposited correctly.

In practice, an online merchant account works the same as any standard, retail merchant account.

Who needs an Internet merchant account?

If you’re selling products or services online, you’ll likely need an internet merchant account. This includes, but is not limited to:

• Ecommerce businesses: To process customer orders and payments online.
• Subscription services: To handle recurring billing for memberships and digital content.
• Freelancers and service providers: To accept payments for digital services, consultations, or bookings.
• Nonprofits and charities: To collect donations securely online.

What an Internet merchant account enables you to do

An internet merchant account allows you to:

• Accept online payments: Process credit and debit card transactions quickly and securely.
• Improve customer experience: Provide a seamless and professional checkout process.
• Increase sales potential: Attract more customers by offering multiple payment options.
• Ensure secure transactions: Utilize fraud prevention tools and encryption to protect sensitive data.
• Integrate with payment gateways: Connect with popular eCommerce platforms and shopping carts to streamline operations.

How to set up an Internet merchant account?

You can set up an Internet merchant account either by using a merchant aggregator like Stripe or Paypal, or with a Payment Service Provider (PSP) like SecureGlobalPay.

The latter is the most popular approach, especially for online businesses that might be considered high risk. 

Let’s see how the process for opening and setting up an Internet merchant account typically looks.

Step 1: Choose an Internet merchant account provider

When selecting a provider, consider the following factors:

• Pricing structure: Look for transparent pricing with no hidden fees.
• Integration options: Ensure the provider integrates smoothly with your existing website and payment systems.
• Security features: Choose a provider that offers fraud prevention, chargeback management, and data encryption.
• Customer support: Reliable support is crucial for troubleshooting issues quickly.
• Reputation: Read reviews and testimonials to ensure the provider is trustworthy and has experience in your industry.

For reference, SecureGlobalPay’s payment gateway can seamlessly connect to WooCommerce, BigCommerce, and other popular online stores. We also have integrations with over 125 different shopping carts, so the implementation is quick and painless.

Step 2: Provide the necessary information

During the application process, you’ll need to provide details such as:

• Business information: Your business name, address, and industry type.
• Banking details: The account where your funds will be deposited.
• Tax identification: Your tax ID or Social Security number.
• Processing history: If applicable, details of your past payment processing volumes.

These are the basics and the process can slightly vary between merchant account providers. If you are opening a high-risk merchant account, you will often be asked to provide additional details.

Step 3: Set up your merchant account

Once approved, you’ll need to configure your merchant account. You’ll do that by connecting it with your shopping cart or payment gateway, enabling features like address verification and CVV checks, and running test payments to ensure everything works smoothly.

Step 4: Start accepting payments

And this is basically it. At this point, you should be able to start accepting and processing those sweet online payments.

In the early months, you should pay special attention to:

• Payment reports: Regularly review statements for accuracy to identify any discrepancies or potential fraud.
• Chargebacks and transaction rates: Adjust settings, such as payment gateway configurations and fraud filters, to maximize successful transaction rates.
• Compliance: Ensure you’re following all regulations and security standards, such as PCI-DSS compliance, to avoid penalties and maintain customer trust.

Again, your Internet merchant account provider should help you out with these kinds of things, as well as resolve any technical issues you encounter. 

Fees associated with Internet merchant account services

When setting up an online merchant account, it’s important to understand the costs involved. Common fees include:

• Setup fees: A one-time fee to establish your merchant account and payment gateway.
• Monthly fees: Ongoing charges for maintaining your account and access to payment processing tools.
• Transaction fees: Fees charged per transaction, which can vary based on the provider and pricing model (e.g., flat rate, interchange-plus, or tiered pricing).
• Chargeback fees: Costs incurred when a customer disputes a transaction and requests a refund.
• Cross-border fees: Additional charges for processing payments from international customers.

Open an online merchant account with SecureGlobalPay

SecureGlobalPay offers a comprehensive solution for businesses that need an Internet merchant account. With competitive pricing, top-tier security features, and seamless integration options, we are a trusted choice for online businesses of all sizes.

Why choose SecureGlobalPay?

• Competitive pricing: Affordable rates with no hidden fees.
• Robust security: Advanced fraud protection and data encryption.
• Easy integration: Our payment gateway seamlessly integrates with popular eCommerce platforms and shopping carts.
• Excellent customer support: 24/7 assistance to resolve any issues.
• Fast approvals: Quick and hassle-free application process.

Ready to get started? Apply now or contact SecureGlobalPay to set up your Internet merchant account and confidently accept online payments.