Cyber-Store (4)
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)