Please share advice about using a credit card processing company
I got this question from someone the other day, and responded with this (off the hip... sort of half baked) answer:
There are many processors, and as many different systems of handling transactions.
You need to get a credit card processor "Merchant Account" first. Finding one is not difficult, but finding one that meets all your requirements is the trick.
I guarantee that your bank offers "Merchant Services" so its a good idea to start there. You can also shop around on the internet, but with Merchant Accounts its pretty much always better to go with a larger bank.
The other way to shop is by Gateway. You will also need a gateway... this means an internet provider that routes your online transactions to your Merchant Services provider. Here is a list of the most common gateways:
http://www.secondsite.biz/Partners/If you go to the Gateway provider's individual pages, they will tell you how to find a Merchant Account provider that they work with.
One thing that I always look for is a gateway/Merchant combination that will allow you to deposit electronic checks. These are much cheaper to accept and many people like to use them instead of a credit card.
Finally, you also have to have the proper software on your website that will allow you to interact with the gateway that you choose. Most ecommerce shopping carts have modules for all the big gateways.
I know this is not enough... so if you have other specific questions, post away!
--gabe
