How to Accept Credit Cards Online

If you want to start a successful eCommerce website, having the ability to accept credit cards (arguably the most common payment method online) is a must. Credit card payments allow you to sell to a wider range of potential customers, including impulse buyers and international customers. Impulse buyers are driven by instant gratification so offering an immediate payment method such as credit cards allows you to secure a sale.

They may change their mind or have second thoughts if the purchase cannot be made straight away. Additionally, a credit card is typically the quickest and easiest way for international customers to make a payment, especially since a credit card can automatically perform an exchange rate.

Now that you know how offering credit cards as a payment method can significantly increase sales among potential customers, there are two common methods of accepting credit card payments. First, you can use your own merchant account. A merchant account is a type of bank account that allows businesses to accept and process credit card payments.

If you already have a merchant account for a brick-and-mortar store, getting one to accept cards online should be relatively easy. Talk to your bank or financial institution regarding the fees and requirements of an online bank account; requirements and fees can vary between banks and countries (applicable if you are planning to sell internationally).

Another way to accept cards on your site is the use of a third-party merchant, which does not require your own merchant account. There are a myriad of third-party merchants that offer online payment processing services. These sites accept credit cards on your behalf and charge various fees or percentages for their services. For example, some third-party merchants charge a flat monthly fee while others may charge a small percentage (e.g. 3.5 percent) of every credit card transaction they process.

Once you have determined how you want to accept credit cards, you need to configure your website to do so. Whether you opt for your own merchant account or a third-party merchant, the payment processor needs to be able to integrate with your site’s shopping cart software. Most well-known online payment processing services can integrate with most online shopping carts.