Did you know that the first credit card was issued in 1951?In 1950, Diners Club and American Express launched their charge cards in the USA, the first "plastic money". In 1951, Diners Club issued the first credit card to 200 customers who could use it at 27 restaurants in New York. But it was only until the establishment of standards for the magnetic strip in 1970 that the credit card became part of the information age. How one can accept online credit card paymentsAccepting credit card payments through your web site actually requires multiple components. Between a paying customer and your bank account, three layers exist:
The main reason why most local financial institutions or banks do not want to provide online merchant account is because transactions conducted over the Internet are totally different from face to face transactions where a signature is required to authorize the purchase. This makes online transactions prone to credit card fraud. Fraud protection should be one of your primary considerations when choosing an internet merchant account provider. Make Right Decision! Before you choose your merchant account providers, understand all of the cost components. Use your current or projected sales data to forecast what your internet merchant account costs will be. Planning ahead can save you time and money. Read more about online payments |
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