The second method of setting up a merchant account is to go through a merchant account banking service. These are also available online, or you can talk to your bank about setting one up that can be used online. The majority of ecommerce owners go with online services, since they are already optimized for website transactions and are easily accessible.

A real merchant account (not a PayPal or Moneybookers account) will cost you a fee to set it up. This can range anywhere from $50 to hundreds of dollars, depending on the service provider. These accounts will also charge a fee each time a credit card North American Bancard Agent is processed, which is standard in the business world. However, the advantages of having a merchant account outweigh the costs in many cases.

With a valid merchant account, you will be able to accept credit cards right on your website, which is a big advantage to many ecommerce websites. Also, many service providers will charge lower processing fees than real world banks and you have 24 hour, instant access to your transaction information.