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Chapter 14. Payment Acceptance and Processing > Setting Up a Merchant Account

Setting Up a Merchant Account

We covered the basics of merchant accounts in Chapter 6, but the information is worth covering in more detail here. Setting up an account with a merchant service provider or a bank allows you to accept credit cards as a means of payment. Without a merchant account to accept credit cards, you'll only be able to accept CODs, money orders, or checks paid in advance.

Not accepting credit cards severely hampers your ability to do business. Most people ordering products over the Web want to use a credit card. As credit card transactions become more secure, that percentage will only increase. But as we mentioned in Chapter 6, enabling your store to accept credit cards is one of your biggest challenges. A merchant service provider will not accept you simply because you want to open a business and accept credit cards.


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