ByMichael Rupkalvis

If you're considering online Credit Card Processing for your business, you are aware there are many options and it can get overwhelming and confusing. Vendors take time to help you understand, but each offer may sound different from one vendor to the next.

The truth is; you don't have to take the first offer you receive when seeking an Ecommerce Merchant Account, no matter how personable and helpful the salesperson was. Yes, salesperson. Many new entrepreneurs don't realize that they are actually customers when they are applying for their Credit Card services. Here are some ways to cut your Ecommerce fees and still get exactly what you need.

Comparison Shop

Just like you would go to a variety of car dealerships before you put down your money on a car, you should compare prices and packages when searching for a merchant account. Research fees as well as reputation, and remember that even if you are in a high risk business, someone will want to provide you with an account and you will have some options.

Sniff Out Hidden Fees

One of the most common ways disreputable credit Card Processing companies make their money is to place all sorts of hidden fees in the contract. This is one of those times you will want to actually read everything on the page. Take a couple of days if you have to and ask about every fee listed. Make a spreadsheet to compare total costs based upon estimated sales on an average month.

Minimize "Card Not Present" Transactions

For an Internet merchant this is not a realistic option, much of the time. One way to avoid these additional fees is to encourage electronic check usage instead. If you can't minimize these transactions find a vendor which specializes in this kind of business. Those that make most of their money online will need a merchant account provider familiar with Ecommerce anyway.

Be Willing to Change Processors

One of the more expensive mistakes you can make is to stay with someone who is charging more than competitors. This is where that spreadsheet comes in handy. If you have an established relationship with a provider, sure, let them have the first crack at helping you expand to the Internet, but if you can get better rates elsewhere you should accept the need to go through two statements each month in order to save money.

The internet and Ecommerce is the market of the future. Poise your company so it can ride the wave.

Michael Rupkalvis owns the Transaction group. The Transaction Group offers credit card processing solutions and other services including internet merchant accounts for all types of businesses.