Acquiring online merchant facilities
Establishing a system for processing credit cards online is a relatively simple process, not unlike acquiring a merchant facility to process credit cards via an EFTPOS terminal.
Do you need one?
Your EFTPOS merchant agreement does not permit you to process payments using credit card numbers acquired online.
Credit card details acquired on a website offer a different risk profile to banks. The banks also offer customers, using credit cards online a higher amount of consumer protection, including different refund options.
Hence, an online merchant agreement is required to acquire and process credit card details acquired from a website.
What do you need to do?
The online merchant agreement requires you to complete a number of tasks:
- Completion of an application form
- Presentation of an outline business plan
- Payment of an application fee (<$200)
How to get an online merchant facility
It is best not to attempt to get one from your bank manager - branch managers tend to be relatively uninformed about their ecommerce payment systems.
NetRegistry can put you in touch with the ecommerce department of your preferred bank, and advise you which banks are processing applications fastest. Our contacts will normally process an application within three working days, five maximum.
Complete the enquiry form and our ecommerce consultants will be in touch during the next business day. Or call 03 5984 2179 and ask our ecommerce consultants about getting an online merchant agreement.
