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What is a merchant account and why do you need one?

What is a merchant account?

When you own an ecommerce business and sell products online, you must have a way to accept payments for your products.  In order to do this you must partner with a bank or clearing house which allows you to accept these payments into your merchant account.  Merchant accounts allow your business to accept payments via credit cards, debit cards, gift cards and different types of electronic payments.  You will set up a merchant account with a payment processor or merchant acquirer who has the ability to process your electronic payments.

 


Payment Processing Steps

Merchant Accounts Accept Electronic Payments

From the point of purchase to actually depositing the money into your bank account for the sale of the product involves several steps.  When the customer purchases your product, he or she will enter their credit card or other method of payment in the shopping cart.  At this point, the payment method has to be verified and approved.  This process ensures the payment is valid and the payment method hasn’t been stolen or expired which is done by the payment gateway.  The payment gateway acts for an ecommerce site like a point of sale terminal would in a retail store. 


The payment gateway takes the information provided by the shopping cart and securely transmits it electronically for payment authorization.  Once the payment is authorized the payment gateway sends it on to the merchant account which accepts and deducts the payments via ACH (Automated Clearing House).  The customers’ payment is deducted and your payment is deposited to your account.

 

Connecting It All

Your merchant account and payment gateway must be hooked up to your ecommerce site.  Pure-Ecommerce will advise you through this process.  You must apply for and be approved to receive your merchant account.  Once this is completed our client support team will do the installation and our client consultants will teach you how to process orders, set up sales tax, add shipping charges, issue refunds, gift vouchers and discounts.  We’re with you every step of the way in what can be quite a confusing process.


Key to Owning An Ecommerce Business

DON'T TAKE OUR WORD FOR IT! HEAR FIRST-HAND EXPERIENCES FROM OUR CLIENTS.
I just wanted to take a few minutes this evening to share with you how awesome my experience has been so far with Pure-Ecommerce. Although I am only just completing Step 2 tonight and getting ready to begin Step 3; I have to say that everyone I have communicated with up to this point has been so very responsive, friendly and knowledgeable!
- Nicole
Thank you so much! I can't tell you how excited I am to be trading in August in the UK - my site looks incredible! You were so supportive and patient with me and your work was 1st class. Thank you so much for being my vendor/product load contact - I intend to use Pure-Ecommerce's A La Carte Services every time I need a product update and load! Best of luck and thanks again - I'm a very happy client.
- Sarah
I just want to say, how pleased I am with the process thus far. Your team is top-notch, it is truly a satisfaction to work with Samantha and Christine... Specially knowing how bothersome I can be ;)
- Marvin
Julie Lewis was great! She has a lot of knowledge in SEO and has some great tips!

 

For her Step 7 consult experience she wanted to share, "I appreciated the time Julie took to review what I was already doing with my blog, etc and offer suggestions. She never seems impatient or rushed and spends the time until you feel comfortable. She was great!"
- Laura L.
Thank you so much for all your hard work. I am currently ranking number 1 on Google for my main key terms including nursing pajamas and nursing pjs. Your knowledge and experience has allowed me to create a successful online business while being at home with my kids.

 

In just two years my business is now worth 3 times what I paid for it - a return I would never have found in the stock market. Your step by step process really helped me not be overwhelmed by the process. Thanks again.
- Melinda
My experience with Pure-Ecommerce began after spending almost 30 years in healthcare. I knew I wanted to do something different and had always wanted to own my own business. I was lucky enough to find Pure-Ecommerce while searching for a business to purchase.

 

The one aspect of the Pure-E concept that I felt was perfect for me was the 40 hours of training, as my e-commerce experience was very limited. I purchased my beautifully designed website from Pure-Ecommerce in October 2011, completed the training and was open for business by the end of November 2011. I was very impressed with the in depth training I received, and the professionalism and competence of the entire staff.

 

I still refer to the E-Learning Library often for updates and changes in e-commerce business practices, as they continually supply their clients with the most up to date information available. The entire Pure-Ecommerce process has been a wonderful experience for me and I am thankful to have found this amazing company.
- Julie
I'm so glad I found Pure-Ecommerce! It was my dream to own a web-based business, but the entire process seemed daunting. Pure-Ecommerce has broken it down into manageable steps, I'd be lost without them.
- Chelsea K.
I first began researching how to begin my own internet business about 9 months ago, and I was very skeptical with most of the businesses I came across who offer to get people going in the world of eCommerce.

 

In my constant search, Pure-Ecommerce always seemed to just pop up. I spent a good three months learning about your company before I sent my first email asking for pricing and information. After digesting that information I took another few months to find reviews (I only found one complaint online and after reading through all the posts I realized that person had their own personal issues). After all that I then reached out to a few people I knew in the eCommerce world to gain some insight into my desire to start my own eCommerce business, and to my surprise when I mentioned that Pure-Ecommerce was the route I was considering, all were on board with that being a sound business decision. Your site seemed too good to be true and I was honestly looking for someone to tell me it was, but they didn't!
- Nicole
I am the owner of a Pure-Ecommerce internet business and I wanted to let you know that your team has been great to work with and the communication has been outstanding.
- John
Everything is wonderful and my project manager from your company is really helpful and answers all my needs within 24 business hours. You have great team and I am glad to buy the site from your company.
- Michael L.