Basic HTML version of Foils prepared July 6 99

Foil 60 Cyber-Store (4)

From Security Infrastructure fo Electronic Commerce and Internet CPS714 Computational Science Information Track -- June 2 and June 7 99. by Roman Markowski
1 Merchant Account
  • probably the most difficult part in setting up CyberStore
  • You must obtain Merchant Account which will allow you to transfer funds from your client's CC into your bank account
  • banks require the company credit history, tax returns, references from your ISP, personal account banks, security deposit, etc.
  • banks insists that you lease expensive hardware and software that cannot be used in your e-commerce Web site, and take 2-5% from every transaction
  • Virtual stores can appear and disappear.....
  • CardService and EMS2000 can help opening merchant account and provide other services. They make money by knowing how to get around the bureaucracy
  • WebAgency, Vantage Technology will perform transactions for you (you do not need merchant account)
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