Contrary to the previous answer, though, you can’t have as many merchant accounts as you like. Your current provider at your brick and mortar location probably has something in their agreement that states you must use their service only at that location.

Don’t get locked into any term agreements on this one. There are plenty of good processors out there that provide “at will” service. Also, be wary of “free” setups. The software that processors use is not free and they’ll often make up the difference in the fineprint.

Also, be sure to work with a company that discloses all of their rates for different card categories (Visa, Visa Debit, Visa Rewards, Visa Commercial, MasterCard, MasterCard Debit, MasterCard World, etc.). The discount rate that you will be quoted is only correct for certain cards.

Lastly, make sure to ask about Payment Card Industry(PCI) Data Security Compiance. Many processors fail to mention your liability for cardholder information. Instead, they simply put language in their agreement indemnifying themselves and leaving you unprotected. Check out the Rip-Off Report for some horror stories about businesses that are out thousands of dollars.

Good Luck!

There are a few merchant account providers who really understand online business and will work closely with online vendors to get them set up correctly. I suggest you ask around and then ask questions to make sure you’re dealing with someone who will be helpful.