Facilitate e-transaction with Internet Merchant Accounts By: Fast Charge

Anybody familiar with electronic transaction or e-commerce over the
internet like purchasing products by paying through credit cards will
be familiar with the term Internet Merchant Account.

It is mandatory for every organization to have an Internet Merchant
Account to accept payment online. Various companies, MNCs, offer the
required software to run and maintain such accounts.

Every organization should have a checking account with any bank in the
US to maintain an Internet Merchant Account. If the organization has
not obtained a checking account, there are institutions that will help
in obtaining an account from the bank. Some local banks do not offer
Internet Merchant Account service.

Many banks offer the entire product, Internet Merchant Account, right
from receiving the payment online to crediting it to the
organization's official account. The Internet Merchant Account is also
useful to individuals engaged in web-based business activities.

The Internet Merchant Account is the second of the three layers that
exist between a customer and the organization. The first and last
layers are the payment gateway and the website respectively.

The Payment Gateway completes the initial process like screening the
credit card, registering its details, the product ordered, accepting
the customer billing information and the necessary validation. This
Payment Gateway subsequently transfers all these details to the
Merchant Bank Account along with the payment downloaded in an
electronic format from the credit card.

To enable this transaction, the website selling the product or engaged
in web-based business, should be integrated with the Payment Gateway
and the Merchant Bank Account. Without integration, an electronic
transaction is not possible.

The Internet Merchant Accounts come at a cost. Usually, there are
three price ranges for upfront application fee, ongoing fixed rate,
discount rate, fixed transaction fee, termination fee and
miscellaneous fee. The range depends on the volume of the business the
organization or the website can generate. To begin with, start from a
low volume generating business as the prescribed fee is lower. There
is scope for scaling up the business and changing the range of the
account.

Article Source: Free Articles - http://www.articlesworldonline.com

Bob Donegan is the author of this article on internet merchant
accounts . Find more information about internet merchant accounts
here.