The True Cost of Merchant Services

The costs stated will vary between different Merchant Account providers. Number of companies has entered the Merchant Services market as a one stop e-commerce solution, however, all is not what it seems! The companies offer you "the chance to accept credit cards and sell your goods/service world wide in a matter of days".

Although this claim is possible, it is highly improbable. You will need to apply to your bank for an Internet Merchant account (even if you have a current Merchant account for mail order). If you do obtain the authorization to trade on the Internet you may find the cost prohibitive to your profit margins. The company offering the one stop solution may charge you 2-4% of each deal, with a set up fee of some amount. The Merchant Services will also charge 2-3% per deal, again with a set up fee if you do not bank with their bank.