Obtaining an Internet Merchant Account
To accept credit cards on your web site you will need to obtain an Internet Merchant
Account with an acquiring bank (acquirer). This is an account designed to enable you to
accept credit cards over the Internet. Not all banks currently support Internet merchant
accounts. PaymentNet has a connection to First Data Merchant Services (FDMS) Nashville,
and Paymentech Salem platforms. PaymentNet can process credit card orders for banks which
are affiliated with either of these processors. The following guidelines are useful for
obtaining a merchant account for processing credit cards on the Internet. Based on your
current banking relationship, the process will differ.
If You Do Not Have a Banking Relationship
If you do not have a banking relationship and would like to establish an Internet merchant
account, PaymentNet has developed relationships with several financial institutions that
can provide assistance and information regarding an Internet merchant account. Our Web
site provides a partial list of these institutions. As part of the application process,
please indicate you are using PaymentNet as your payment processing solution.
If You Have a Banking Relationship and Currently Accept Credit Cards
If your business currently accepts credit cards and you would like to accept credit cards
over the Internet, you will still need to open an Internet-specific merchant account with
your bank. Contact your bank to determine if your existing account will allow you to
process Internet-based transactions. If not, you will need to set up an Internet merchant
account with your bank.
If You Have a Banking Relationship, but Don’t Accept Credit Cards
If you have a relationship with a bank, check with your bank to determine if they can
provide you with a merchant account. If not, check our list of financial institutions.
When you do set up a merchant account with an acquirer, you may be able to set up the
account to deposit funds into your existing business checking account.
Verify your Banking Information
Once your merchant account has been established, verify with your bank that your
account has been set up to process through PaymentNet as the payment processing service.
This will expedite your set up process.
Provide your MID & TID to PaymentNet
When you receive your merchant account, you will be assigned a merchant identification
number (MID) and a terminal identification number (TID). This information must be supplied
to PaymentNet for configuring your account on the PaymentNet server.
If you have any questions about obtaining a merchant account, you can contact
PaymentNet at (925) 225-1670, or send email to:
info@PaymentNet.com
In the subject line of your email include the words "Merchant Account". |
