Merchant Account DC

Merchant accounts aren't the same as ordinary bank accounts even though ordinary banks provide them. These accounts allow a business to accept credit cards as payment for goods and services.

Local Companies

Lucidea
(202) 747-7226
1413 K Street, NW
Washington, DC
Unison
(202) 337-7887
1010 Wisconsin Ave NW Ste 405
Washington, DC
4Site Interactive Studios Inc
(202) 518-7083
1730 Connecticut Ave NW Ste 4A
Washington, DC
Thomas J Piwowar & Assoc Inc
(202) 223-6813
1710 Rhode Island Ave NW
Washington, DC
Topshelf Design
(202) 667-1966
15 Franklin St NE
Washington, DC
Interactive Applications Group
(202) 265-3700
2639 Connecticut Ave NW
Washington, DC
Corpimages Net
(202) 546-4424
131 11th St SE
Washington, DC
Siren Digital Communications
(202) 518-0250
1752 Columbia Rd NW
Washington, DC
Magnet Interactive Communications
(202) 625-1111
3225 Grace St NW
Washington, DC
Stratecomm
(202) 667-7500
1633 Connecticut Ave NW
Washington, DC

Provided by: 

Merchant accounts aren't the same as ordinary bank accounts even though ordinary banks provide them. These accounts allow a business to accept credit cards as payment for goods and services. In a way, merchant accounts act as a contract between the business owner and the bank. Rules defining how products will be bought, sold and paid for are set; any violation of these rules is considered fraud.

When your application for a merchant account is being considered, two entities participate an ISO (Independent Service Organization) and an underwriter. Usually the ISO also serves as the underwriter. The ISO evaluates the future the success and risk of the merchant applicant and approves or denies an account. If the merchant violates the terms of the merchant account agreement, the underwriter/ISO will shut down the account.

There are two different kinds of merchant accounts available, the ”Over-the-counter” (OTC) and the ”money-order/telephone-order” (MOTO). Over-the-counter merchant accounts are used primarily for retail merchants. These types of merchant accounts typically have lower discount rates and transaction fees because the customers’ credit cards are physically present at the point of transaction.

Money order/ telephone order merchant accounts are used primarily for Internet-based businesses. The transaction requires two steps instead of one. Once all of the card information is entered, the data is verified and then the money is subtracted from the cardholder's limit and placed in a 30-day holding account without actually charging the card. After the product is shipped the card is charged for the purchase price.

Click to read more from TopTenReviews.com

Featured Local Company

Lucidea

2027477226
1413 K Street, NW
Washington, DC
www.lucidea.com

Lucidea provides Web and IT consulting services to associations, nonprofits, government and other clients in the Washington, DC area.

Security and Infrastructure
Web Presence

Related Articles
- How Merchant Accounts Can Save Money DC
We all know that accepting credit cards is the key to online sales. Unfortunately, most merchants are unaware that acquiring a merchant account can actually save them money. And in many cases, it is a large sum of money.
- Merchant Accounts DC
- Time To Open A Home Business Merchant Account DC
- Credit Card Processing DC
- Discount Merchant Accounts DC
- Business Merchant Account DC
- Credit Cards And Merchant Accounts DC
- Choosing a Merchant Account Provider DC
- How to Sell Downloads Online DC
- Different Types Of Merchant Accounts DC
Regional Articles
Related Articles
- How Merchant Accounts Can Save Money DC
We all know that accepting credit cards is the key to online sales. Unfortunately, most merchants are unaware that acquiring a merchant account can actually save them money. And in many cases, it is a large sum of money.
- Merchant Accounts DC
- Time To Open A Home Business Merchant Account DC
- Credit Card Processing DC
- Discount Merchant Accounts DC
- Business Merchant Account DC
- Credit Cards And Merchant Accounts DC
- Choosing a Merchant Account Provider DC
- How to Sell Downloads Online DC
- Different Types Of Merchant Accounts DC
Related Local Events
International Aid + Trade Event - Building Partnerships for Relief and Development - Exhibition and 2009
Dates: 7/9/2009 - 7/10/2009
Location: Ronald Reagan Building and International Trade Center
Washington, DC
View Details

SANS WhatWorks Summit in Forensics and Incident Response with Rob Lee
Dates: 7/5/2009 - 7/15/2009
Location: The Fairmont Washington, D.C.
Washington, DC
View Details

Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin

Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets World History