Free Merchant Account FAQ
Common questions about online merchant accounts:
Setting up your own merchant account is one of the most confusing and intimidating processes new online entrepreneurs face.
There’s just so much conflicting information that most new business owners just don’t know where to start or trust.
So, if you’re looking for some straight answers about setting up your own online merchant account, please review the most common frequently asked questions you below.
A “merchant account” is just an industry term for a business banking relationship that enables business owners to accept credit card payments. These relationships can be established through a bank, credit card company, or other payment processor such as a broker.
Setting up a merchant account usually involves the bank understanding your business and working with a third-party processor to arrange a mechanism for accepting payments.
Merchant accounts are usually required for accepting customer credit card and electronic payments through an electronic commerce Web site or web store.
A “Payment Gateway service automates the payment transaction between the shopper and merchant.
It is usually a third-party service that is actually a system of computer processes that process, verify, and accept or decline credit card transactions on behalf of the merchant through secure Internet connections.
The payment gateway is the infrastructure that allows a merchant to accept credit card and other forms of electronic payment by connecting the merchants web store sales transactions to the stores merchant bank.
When referring to payment gateways used for Internet transactions, it may also be called an IP payment gateway.
Yes you would. Here’s why:
A merchant account is a type of bank account that allows businesses to accept payment by debit or credit cards. Whereas, a payment gateway facilitates the secure transfer of information between you and your merchant account.
These two work together in conjunction with your ecommerce shopping cart software to form the basic “plumbing” that allows you, the merchant, to accept and process credit card transactions and have the money collected end up in your bank.
A “merchant account” simplifies and automates the process of real-time credit card processing. By having your own merchant account you and credibility to your business and increase the trust factor of your customers dramatically.
Of course, PayPal is a viable alternative to establishing your own merchant account, however we have found that PayPal is best used as a secondary payment option when selling products online.
Typically pricing for merchant accounts has been all over the board, from the so-called “free merchant accounts” as high as $1500.00.
The market is extremely competitive with various vendors offering conflicting terms, fees and programs.
In an effort to cut through all the “noise,” 1AutomationWiz has partnered with several of the top ISO’s in the country to provide our users with a recommended and “vetted” merchant account service provider.
As a result all setup fees are waived, by following a recommendation you will have no out-of-pocket startup costs to set up and secure your very own online merchant account today.
It just makes good business sense, for both us and our customers. The easier it is that we can make it for our subscribers to begin selling their products online through the 1AutomationWiz.com shopping cart, the more likely they are to “stick” and be a long term customer for us.
We consider covering your merchant account start up fees to just be a cost of doing business in our effort to build a long term viable and sustainable customer base.
No absolutely not. When we say will cover your merchant account start up fees, we mean it. Your only costs will be those charged on a monthly basis by the credit card companies themselves.
Here’s a breakdown of the monthly fees associated with running a online credit card merchant account.
| Details | Emerchant | Industry Average |
| Merchant Account Setup Fee | FREE | $49.95 and higher |
| Authorize.Net or USAePay Setup Fee | FREE | $49.95 and higher |
| Internet Discount Rate | 1.79% - 2.18% | 2.25% - 2.95% |
| Internet Transaction Fee | $.10 - $.15 | $.20 - $.30 |
| Retail Discount Rate | 1.04% - 1.69% | 1.75% - 1.95% |
| Retail Transaction Fee | $.20 | $.25 - $.30 |
| Surcharges or Billback | NONE | SOME |
| Dedicated Account Manager | YES | Most likely NOT |
| Approval Time | Just 1 - 3 DAYS | 1 - 2 WEEKS |
| 1AutomationWiz Compatibility | YES | Yes |
| Credit & Underwriting | LIBERAL | TIGHT |
Click here for more details about merchant account pricing
No absolutely not. We are not a payment gateway or bank, therefore we do not collect or process the money that is transferred through your merchant account.
Because the merchant account industry is so confusing we wanted to provide our users with a simple, trustworthy and professional partner.
After working with many different online merchant account providers over the years we’ve come to rely and trust one of the best in the industry, Emerchant.com.
We feel this is the perfect way to offer our clients a simple way to set up a merchant account that they can use with our online shopping cart software and their online business.
Emerchant is the third largest I.S.O in the country and offers our members outstanding rates, service and they have an impeccable reputation.
How about right now? Click here to get your free merchant account application started or to speak with a merchant account representative.
