Whether it be to help close the sale of someone buying on impulse or just for convenience purposes for a regular buyer, the ability for a store to accept credit cards can make the vital difference in achieving your desired sales.

How would you like it if you desperately wanted to buy yourself that mobile phone today as your last one just broke.... your internet banking is down and your only payment method was credit card but the store you chose to buy from only accepted bank deposit? Would you simply click on to the next site who probably offers the same mobile? This is what most people do.

What options do you have

1. Merchant accounts and Gateways

There are two actions in setting up credit card facilities for your online store through a bank. You will need to apply for a Merchant Account and a Payment Gateway in most cases.

What is a Merchant Account?

In order to accept credit card payments, you are required to apply for a merchant account. This is done through a bank of your choice and generally takes up to 14 working days. A merchant account will give you the ability to receive a credit card payment and deliver the money into your bank account.

What is a Payment Gateway?

The final piece to setting up a merchant account to accept online payment through your shopping cart is the gateway. 

A gateway will authorize and validate credit card payments while the customer is still online. These gateways provide a walkway from your web site to a different modem channel to check the credit card status in real-time, a very complicated process if you were to do it on your own from step one. 

2. Third Party Payment Processors

A third party payment processor is an independent company which can process your credit card payments without a merchant account and gateway. They cut out the need to deal with a bank. Some examples of third party companies are PayPal and WorldPay. These are all accepted by Ashop Commerce shopping cart software.

You will save money on monthly fees from both a merchant account and gateway but your transaction fees will be higher, generally by more than 2% depending on the company you choose. The third party will accept most major card types and you will receive the funds in a nominated account within one week on average.

Integration with Ashop Commerce

Ashop Commerce shopping cart software is compatible with both your Merchant account and third party payment processors. If you choose to use PayPal or WorldPay, the end result will generally lower costs. We suggest if you are looking to grow your company quickly, you have both a merchant account and third party processor set up, this will give your customers a good selection when purchasing.