Nowadays more and more businesses are moving online. Some of
them are engaged in online trade, both retailing and wholesaling, and others
provide services via the Internet. In both cases such businesses deal with the customers
payments. In order to have the option for processing online payments, its
necessary to open an e-commerce merchant account for such a business.
There are many options for doing so. For example, merchant accounts can be
opened by the bank with which you are in business for over 2 years (if not,
its necessary to look for the banks which accept that your business is
younger), but in general, its much more convenient to open your e-commerce
merchant account with some independent sales organization or merchant service
provider (MSP) that operate online. Usually, regular MSPs services include ACH
processing and providing of the online payment gateway, which are both integral
parts of the full-cycle online merchant services.
Online payment gateway is the virtual access to the bank terminal, where a
client can log in and store the credit/debit card data. Usually merchant
service providers employ the third party for delivering such service via the
MSPs website, but some others have their own online payment gateway.
ACH payment is the online payment via the automated clearing house network.
Such mode of payments for an e-commerce merchant account is incredibly
convenient, as it operates directly from one account to another with minimum
errors and maximum speed of money transfer. Basically, online businesses prefer
ACH payment form for they are simple and theres no need to take time with
e-mails, papers, and checks.
Theres little time required for the
financial transactions, which considerably speeds up the whole process.
Generally speaking, ACH payment and similar forms of online payments just
replace land-based check banking with online checks.
Such forms of online banking as via the e-commerce merchant account allow to
develop into international markets with little efforts for a short period of
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