You don't always need all of these players. Right know, I have my credit card account with Northern Trust and they've hired an electronic provider (ADP/Chase) that we use to process transactions. We do not have any additional fees besides the rate we negotiated with our bank. The majority of our transactions are card not present all settled electronically.
Andy -----Original Message----- From: Ben Rogers > I'm new to ecommerce and have helped my customer set it up. We are using > the authorizeNet processing. Is there someway to know all the fees > associated with ecommerce business? > You need several components to process a transaction online. They can come from several companies or from just one. The first thing you need is a gateway. That's where Authorize.Net comes in. They interface with the banking system. They deposit the money in what's commonly referred to as an Internet merchant account. Internet merchant accounts are accounts that are used for card-not-present transactions. That includes any transaction you would place over the Internet or by calling, faxing or mailing the credit card number. Internet Merchant Accounts usually take a fee per transaction. This is on top of the fee that the credit card company is taking. Finally, you need a regular old bank account like a business checking account. Usually, the one you have with your local bank will be enough. This is where the money ends up. They, of course, charge their own set of fees. These vary quite a bit from bank to bank and depending on the type of account you have. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Discover CFTicket - The leading ColdFusion Help Desk and Trouble Ticket application http://www.houseoffusion.com/banners/view.cfm?bannerid=48 Message: http://www.houseoffusion.com/lists.cfm/link=i:4:195470 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/4 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:4 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.4 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
