Your ecommerce business has to be able to accept credit cards in order to be successful on the web. It doesn’t matter whether you are selling physical products or digital (downloadable) products, you have to accept credit cards.
My brother was a bartender for years and he explained to me that the basic goal was to get money from the other side of the bar to his side. It’s the same thing on the web and it has to be as easy on the customer as possible.
A credit card processing company accepts credit cards on your behalf. It charges a higher per-item fee but no monthly fee.
A credit card merchant account provider charges a lower per-item fee but has a monthly fee, plus requires a payment gateway to accept credit cards on your website.
Go through each option to see which is right for your online business.
“But I don’t store credit card data”, he said. Well if you read the fine print on the PCI DSS standards it says something like the following: PCI DSS does not apply if PANs [credit card numbers] are not stored, processed, or transmitted
A recently passed U.S. tax provision requires that starting in January 2011, all credit card merchant account providers must report your annual gross credit card transaction information to the IRS.
