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Electronic Payment/account details for online business

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Question
Hi Beecher,
I am interested in setting up my own personal blog and plan to monetize it. But right now, I have no clue on how to open an account or which type of account to open for this purpose. I also do not have an idea of how the money would get to my own account.
please can you help to shed some light on the details of account opening for an online business.Thank you.

Answer
Hello Firu,

There are quite a few options available when setting up an online business.  Here are the basics if you are setting up the site yourself. In order to accept Visa, Mastercard, AMEX and Discover. you will need the following.

-A merchant service account (you can contact your local bank or look online).  FeeFighters.com is a good option.  They compare fees for you.  
-Your website.
-Internet gateway (it transmits the transaction data from your website to the merchant card provider)
-Shopping cart(a software that is used to help shoppers make a purchase). The good thing here is that most gateway providers also offer an option to purchase a shopping cart directly from them.
-A customer service number which must be posted on your payment page

You may want to consider accepting Paypal which has over 350 million ousers worldwide.  You can do this by going directly to their official site at www.PayPal.com

Other available options are contacting companies that build and host your online store for you.  Search on the Internet under - create your online store - for a comprehensive list of providers and maybe some additional ideas for your store.

Good luck and please let me know if this information I provided was of value to you.

Electronic Payment

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Beecher B. Henderson Jr.

Expertise

My expertise is the ability to help you understand, reduce and eliminate fees associated with accepting electronic non-cash payments in your business. Whether you are doing business over the internet (e-commerce), in person, by phone or through the mail (MO/TO), I will be happy to provide you the answers you are looking for. Straight forward, non-technical answers about credit, debit and gift cards, leasing vs. buying equipment, virtual terminals, Point of Sale (POS) equipment and software; Accepting Visa, Mastercard, Discover, American Express, JCB and electronic checks. PayPal, Google Checkout and Amazon Payments are they right for you? These questions I can answer - what I canít answer are questions about ATM machines.

Experience

Seventeen years of experience in all aspects of B2B business development, sales, sales management, sales training, market analysis, contract negotiation and business consulting in the SMB (Small and Medium size Business) markets make me a great resource for your electronic payment questions. I have been a Regional Training Manager, Regional Sales Manager, Manager of Client Relationships (National Accounts) and Market Sales Manager. In the last 5yrs alone I have been responsible for 5,019 new merchant account acquisitions totaling $1.48 billion dollars in sales. My experience has taught me that those businesses that accept non-cash payments earn more money than businesses that don't!

Education/Credentials
LaGuardia Community College/City University of NY - A.S. Business Administration. SALES AND MANAGEMENT TRAINING ∑ Situational Leadership II (2008) ∑ Leadership Development for Sales Managers (2004) ∑ Clifton Strength Finders (2009) ∑ Situational Leadership 1 (2007) ∑ Extraordinary Leader- Zenger/Folkman (2011)

Past/Present Clients
Craigslist, B&H Photo, Round Table Pizza, Associated Food Stores, Key Food Grocery, Manhattan BMW, Planned Parenthood, Sleepy's, Back Forty Texas BBQ, Sams Club, Costco.

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