Merchant Account

[mystic]

I'm ready to open my new online store selling electronics, and i have my hosting with yahoo with their merchant solutions and i signed up with paymentech because they work together or something and they declined me. They didn't give me an accurate answer and they were sort of rude on the phone.

So i was wondering do any of you guys know of any good merchant accounts i can get online to be able to process credit cards online and one that can also have paypal as an option as well? Because my site is ready to be opened but i need a payment gateway.

Any recommendations or idea's will help!

[Corey Bryant]

Any processor that works with First Data - and a lot of them do. If you Google Yahoo Payment Gateway, you will see a few.

Yahoo tells people that you must use Paymentech but you do not have to. You just need to use a processor that is compatible with First Data Nashville platform, and most of them are actually.

BTW, do you still want to use Yahoo because they are the gateway, you just need the merchant account.

[willthegeek]

Authorize.net is the credit card clearing house for most online transactions in the US. Any of their member banks can set up an account for you. They list a number on their website.

You can also find more than you ever wanted by searching for 'Online Merchant Accounts' or some variation.

But bear in mind that most banks will not accept any 'high risk' ventures. Adult, gambling, dating and some others. Also, you will have to have a company bank account in good standing.

If you have had a merchant account before, they will look at your charge backs also.

HTH

Will

[mystic]

I don't really understand this high risk venture. I asked paymentech why they declined me and there answer was "maybe you had no credit or your credit was bad" and i said well i have excellent credit so that can't be the answer. They asked me wut i sell and i said electronics and they said oh that's a high risk venture for us so it might be that. I spent a lot of time working on my site about 2 months and i want to open now. btw can electronics really be a high risk venture?

But i'll surely check authorize.net because i remember hearing that from lots of places.

[StevenAllen]

I have 6 stores with Yahoo shopping and when I first started I used Paymentech. Paymetech is the poorest processor and the only reason why Yahoo pushes you there way is becuase they kick money back to Yahoo.

You are already paying for access to the FDMS gateway as it is bundled into the cost of your Yahoo store. It makes no sense to contact Authorizenet as they are NOT a merchant processor, but only provide you access to the FDMS gateway you are already have and are paying for.

If you drop me a line I can help you sort this matter out.

[mystic]

Well if you could help me out with this that would be great. I allready tried paymentech but they declined me. Do you have a AIM sn? if so what is is? Mine is xxdamysticxx please IM me on that and we can chat some more about this issue.

[jestep]

You can use virtually any merchant account provider that has the ability to go through paymentech on the back end.

You are obviously looking for a easier to manage solution, and Authnet is not going to provide this for you. Authnet is only a gateway and virtual terminal, and you need a shopping cart and website. Authnet is a great system, and IMO it is the best gateway available, but it is not a shopping cart and unless you have a pre-made system that can integrate with it, it can be fairly difficult to setup properly.

I would recommend looking at other companies that provide merchant accounts that can use that paymentech platform, and keep your yahoo store.

[Corey Bryant]

Paymentech is in the top 10 ISOs in the United States currently. People are torn at times at dealing with a large, stable corporation while potentially sacrificing some customer service.

If you have already set everything up at yahoo, it might be a good idea to look for a processor as jestep suggested that will support you and has an easier qualifications process.

[StevenAllen]

Bigger does not mean better look at Worldcom if you need an example.

[Corey Bryant]

That is exactly why I added my other statement. And ask him to do due diligence. I am here to offer a little advice and let it be known there are other options.

Using a company like Paymentech though, you have stability and you know that it won't go under - that it more than likely would be sold to a larger ISO (like Chase). You have already made your meaning known on Paymentech before, I am just trying to stay on the subject here without too much digression.

[ADAM Web Design]

Originally Posted by mystic

I don't really understand this high risk venture. I asked paymentech why they declined me and there answer was "maybe you had no credit or your credit was bad" and i said well i have excellent credit so that can't be the answer. They asked me wut i sell and i said electronics and they said oh that's a high risk venture for us so it might be that. I spent a lot of time working on my site about 2 months and i want to open now. btw can electronics really be a high risk venture?

But i'll surely check authorize.net because i remember hearing that from lots of places.

Thanks to carding and paranoia, it can.

Carding, for those who don't know, is the term commonly used by black hat types for acquiring credit card information belonging to other people via means they're not supposed to. The credit card info is then used to purchase goods and services online.

In the case of goods, the idea is to purchase something online using a public terminal or a friend's computer (i.e. a way that can't be directly traced back to the carder), and arrange for it to be shipped to an alternate location for pickup (usually an address where someone is on vacation or the house has been abandoned or something similar, scoped out by the carder beforehand.)

The carder can even get the goods delivered overnight without having to sign for it, if (s)he is lucky enough to find a site that uses UPS for a courier option. UPS has a horrible habit of dropping packages off at (or sometimes stuck halfway in) the door without checking the address or requiring a signature. I'm sure there are other courier companies that do this as well, but I know for a fact UPS does this because they drop at least one package off per week here and have never asked for a signature.

But I digress. Anyway, that's the idea of carding. Now...in the case of goods and the risks involved, the goods are generally high-value products (or HVPs, as shipping companies call them for short) in order to make it worthwhile for the carder.

Unfortunately, this is where you come into play, mystic. Electronics are just such an HVP.

Carding is a relatively uncommon practice, but it's still done enough to create a risk situation.

(Note: I have never practiced this, nor do I condone it in any way, shape, or form. I just stumbled upon it by accident one night while Googling something else and did some homework.)

Anyway, I know of an employee who works with Paymentech who is a terrific gentleman to deal with, and an alternative processor that may work with Paymentech. I've never used them myself, but I do know people involved with both.

www.edrprocessing.com is the alternate processor.

If you need contacts for Paymentech or EDR, PM me and I'll give them to you.

[ganguly21]

HI there,
You can check out one of the leading site of merchant account Apply4Less.com - Merchant Account Provider with Best Rate Guarantee
They claim that if any one can give low rate then what they are telling then they will pay you $500.. I think they are quite sure of them...
They provides all kind of solution let it be online or offline. you can check out....
Then you can make your move..