A friend of mine finally jumped onto the e-Commerce bandwagon recently, and I was happy that he would be enjoying the many benefits of owning an online business soon. However he told me in his search for a commendable merchant account provider, he relied too much on word of mouth and made the mistake of choosing a merchant account provider without asking the appropriate questions. My reply to his predicament is to ask all the right questions in choosing a potential merchant service provider, because knowing the answers will help us gauge whether we have made the right decision or not.

1. As a merchant, am I authorized to accept credit cards online AND offline?
Different features come with different accounts so if you set up an online merchant account, you need to clarify with the company if you need permission to accept credit cards offline. You should also be aware that separate fees will be charged.

2. Will I have permission to accept payment methods other than Visa and MasterCard?
There are customers who prefer to use their Discover or AMEX cards so it pays to ask your merchant account provider if you can accept these forms of payment.

3. How much will I be charged?
When it comes to the all-important topic of fees that are chargeable, you should know that different merchant account providers impose a variety of fees ranging from set-up fee and gateway access fees. Ask for a complete list, and if the fees are subject to change any time.

4. Are e-Commerce fees processed manually or automatically?
Most e-Commerce business owners prefer to process automatically via a secure online payment gateway. What they are NOT aware is that they may be charged a fee. Do ask how much you will be charge, and if this is a recurring charge.

5. I’m not technology-savvy. Do I need to set up everything myself?
When it comes to additional hardware or software, most providers will be more than glad to set up everything for you but should the results appear non-satisfactory, don’t hesitate to contact your providers for clarification.

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