How do I set up a merchant account for a business?
I am running a business and have a volume of tech support, pharma, and travel business from the UK/USA/Canada/AUS/NZ. Also, I have prepaid debit card volume. Right now I am using a 3rd party merchant account. How do I set up our own merchant account?
Am assuming you are looking to accept debit payments on your own website using a self-hosted application without a third party gateway - right?
If that's the case, then you wil need to have a secure server - check with your hosting company first. You may also need to purchase (web hosting company should be able to provide this) encryption software to integrate into an ecommerce application.
And depending on which ecommerce application or platform you choose, there are a number of flexible CMS applications that allows for custom payment gateway integration including WordPress, joomla and Shopify etc and the list goes on...
Here's what I'll recommend. Best to speak to or contact your hosting company and enquire about any encryption software available with your package or purchasing one - the stronger the better.
You will also need to check with your bank about setting up a custom payment interface on your website - usually they can provide an API that will allow you to sync payments directly into your account - though this will have to be set up through whatever application you choose.
Unless your doing it yourself, find a good ecommerce developer who should be able to set it up for you and you'll be on your way - happy to help.
Hope this helps and feel free to get in touch if I can be of further help.
Best as always
Speak to your local banks and see what they can offer. Once you obtain a competitive rate (lot better than Paypal for example) with all required inclusions you can then hook it into a credit card gateway provider which in turn can connect to your website or shopping cart.
Have you ever looked at these options:
They do a lot of the legwork so you can focus on your core, your business