The sales from the e commerce industry have been increasing at a steady rate. It is estimated that from the year 2002 to 2011, the e commerce industry jumped from making a profit of 72 billion dollars to 256 billion dollars. Businesses that wish to join this growing industry should consider creating Internet merchant accounts.
Internet merchant accounts are specialized banking or processing accounts that allow companies to accept credit card and debit payments over the Internet. Special security measures, such as PCI or Payment Card Industry compliance guarantee that the handing and processing of credit card and debit card information is secure.
General merchant accounts do not have the security or clearance to offer this type of service. This means that if a business wishes to start accepting online payments, they will need to consider opening Internet merchant accounts with online payment processing companies.
There are several different types of Internet merchant accounts. The two main types of Internet merchant accounts include customer and business accounts. Both Internet merchant accounts allow for companies to accept credit card and debit card payments, but there are slight differences.
Customer Internet merchant accounts are designed specifically for businesses that wish to offer customers an online billing option. Customers can receive online invoices, pay bills online, or purchase products with a debit or credit card. These Internet merchant accounts offer the security levels and compliance standards that are required for businesses to offer this service to customers.
Business Internet merchant accounts are designed specifically for businesses that wish to handle payments with other businesses online. B2B payments are slightly different from consume payments, which is why this is a separate account. These B2B credit card processing services and accounts allow businesses to send and receive funds in a quick, timely manner.
Businesses or merchants that wish to start accepting credit card or debit card payments will need to consider opening Internet merchant accounts. These specialized accounts with online credit card processing companies allows businesses to receive their funds in a timely manner, while keeping sensitive information private.
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