You will be able to identify considerations when selecting a Merchant Service.
You will be able to describe the Merchant Service process.
You will be able to find a Merchant Service.
Read: Book III Chapter 4
Review: Amazon Sales Services (Pay attention to cost!)Post: Merchant Service Review under Assignments. You should review 3 Merchant Services (see the services identified bellow) and recommend one and make sure you tell me why!
Items you should consider when evaluating a Merchant Service:
- How much does the service charge per month?
- How much does the service charge per year?
- How much does it cost to set up?
- How much does it cost per transaction?
- How Long will it take to get your money?
- Do you have to pay more for faster transfer of your money?
- Do you need a business account with the Merchant Bank?
- What protection do they offer against fraud?
- What is your liability with fraud?
- Do you have to pay for different levels of fraud protection?
- Does the Merchant service work with your shopping cart?
60 minutes segment on Data Brokers!
Determine which Credit Cards you will accept:
Cost for accepting Credit Cards can be the difference between profiting from a sale or losing money.
Popular Merchants services:
- Costco through Elavon
- North American
- Amazon (Very Expensive!!!)
- Your Local Bank (Wells Fargo, Bank of America, MidFirst ... ) or Merchant Warehouses
Shopping carts are database enteries with the customers order and customer data.
Popular Shopping Carts:
Mal's E-commerce (I will show you how to use this one)
Merchant service, Liability, Fraud, Shopping Cart