1. There’s more than one way to accept payments through an e-commerce website. eWallet services such as Google Checkout or PayPal allow customers to purchase items online and pay through their accounts with those respective services. More popular are robust payment service providers that offer a wide array of online payment solutions and work in conjunction with merchant accounts and e-commerce shopping cart software. Research a myriad of methods and service options to find one that meets your e-commerce needs.

2. You need a payment gateway to accept and process online payments. A payment gateway authorizes a transaction and enables the secure transfer of credit card funds from customers to your merchant account. Look for a payment gateway that is compatible with your site’s shopping cart.

3. You also need a merchant account. While a payment gateway authorizes credit card transactions, a merchant account is a commercial bank account that allows you to actually receive funds credit card sales. Merchant accounts are typically available through traditional banks and financial institutions.

4. For a seamless shopping experience from start to finish, a merchant account coupled with a payment gateway is the way to go. This option does tend to be more expensive than using third-party payment processors but it will allow your customers to make purchases directly on your site using a credit card.

5. Encryption is a must. In order to secure customers’ information and prevent credit card fraud, a payment gateway should offer encryption that enables you to accept payments safely. IN a similar vein, opt for services that provide a variety of online fraud prevention solutions.

6. Be prepared to pay monthly fees and/or percentage-based transaction fees in order to accept online payments. While the amount a payment gateway charges may vary, there are two main types of fees that you can pay: either a flat monthly charge or a percentage of every transaction the payment gateway processes.

7. Be aware of other fees you may be expected to pay with a payment gateway, including setup fees and deposits.

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