Buying and selling goods and services over the internet is a relatively new phenomenon. It’s been around for the last 20 years or so, and during that time, the activity has only grown and grown. Consumers are increasingly choosing to make their purchasing decisions in the online world, which really doesn’t come as a surprise when you consider the advantages of doing so. The ease and comfort of purchasing online has never been higher, and the options available in terms of retailers are substantial. If you’re starting up a business then, you need to harness the consumption channels available over the internet. To do that, you’ll need to employ mechanisms that make that possible – an eCommerce Merchant account is one of the critically important services that you’ll be using. Below, you’ll see more information on eCommerce in general, what an eCommerce Merchant Account is, and how to choose which one to go with.
What is eCommerce?
Before getting into any further detail about eCommerce Merchant decisions that you need to make, it’s worthwhile running through exactly what eCommerce is. In short, it’s the process of electronically buying and selling products and services over the internet. An eCommerce Merchant is a service that sells exclusively over the internet – or, at a minimum, the vast majority of their sales activity takes place over the internet. As you don’t need a bricks and mortar set up to make cash nowadays, and the entry requirements into the market aren’t nearly as prohibitive, many people are choosing to go down this route.
Why Choosing Matters
You might be wondering why it matters which eCommerce Merchant Account you choose, after all, don’t they all serve the same function? While there is certainly some truth there, in that many of these services are similar, they also offer a lot of varying benefits as well.
Online transactions require you to have several different components set up before you can take any payments. You need to have an eCommerce Merchant Account, but you’ll also have to employ shopping cart software and a payment gateway. Without all of these aspects, you’re not going to be able to take payments. It’s possible to simplify things by using an all-in-one service instead. All-in-one eCommerce Merchant Accounts integrate a payment gateway as part of the service, and this can reduce the amount that you’re paying in fees – a substantial advantage worth consideration.
Look at the Details
When people try to make a decision on which eCommerce Merchant Account, their attention tends to be drawn to the dollar signs and main fees associated with the services – and while these aspects are important, they aren’t everything. You need to pay attention to other mechanisms that will affect you, like refund processes, contract lengths, security features, and any hidden costs. The best tip that we can give you is to be thorough in your assessment of the eCommerce Merchant Accounts on offer. Balancing ease-of-use and cost will ultimately be the choice that you need to make.