1.
What Are You Selling?
The
reason for this is because
VISA/MASTERCARD does not accept every
type of business there is. Because of
high return and charge back risks, each
sponsored bank has a criteria of what
kinds of business they will and will not
accept. That is why when you check with
your local bank there is a very good
chance that your application will be
denied if you are anything but retail.
2.
What Is The Criteria For Acceptance?
The
less risk your business is to the bank,
the greater your chance of acceptance. If
you were operating a retail store selling
stationary, your chances for approval is
many times greater than if you were
operating the same business from your
home or over the Internet. To the bank
the retail store is far more secure than
your home based business.
3.
What Do I Need to Do Then To Accept Cards? I
Am Not A Retail Store.
The
answer is that you need to work with a
company or a bank that can approve these
kinds of businesses. They have met the
criteria and the requirements from
VISA/MASTERCARD to approve businesses
other than your standard walk in Retail
store such as Mail Order, Phone Order,
and Internet related businesses.
4.
What About The Costs? Are They Any Different
For A Retail Vs. Home Based Business.
The
answer to this goes back to the
"Greater The Risk, The Higher The
Cost." In almost every case the cost
(discount rate) to process a transaction
is going to be more to you than if it was
done in person. Most home based
businesses process sales over the phone,
through the mail, and over the Internet.
There is no signed sales receipt in all
of these types of transactions. This
invites the high possibility of
chargebacks. Hence, more risk, higher
cost than if it was retail.
5.
What Kinds Of Typical Startup Costs Can I
Expect?
You
should expect to invest a startup amount
of between $190.00 - $300.00 from most
companies in our industry. These amounts
can include application, setup, equipment
rental lease deposits as well as
additional costs for poor credit, higher
risk, etc.
6.
What About Equipment. What Will It Cost?
This
is going to vary depending on the kind of
equipment you choose. If you lease your
equipment, your payments should range
anywhere from $35.00 to $49.00 per month
for a complete processing system
including a terminal and an automatic
printer, and in many cases software. If
you are looking to process Online
Internet Realtime transactions, and want
to add on Shopping Carts, etc, amounts
will increase according to the amount of
customization you need.
Without
being too detailed in this short article, the
first thing you'll need to reveal is: 
