New Merchant Account Program: Free Authorize.net included!

[Matt]

We have made a special deal with e-onlinedata to offer our e-commerce site owners and web hosting resellers incredible deals on a merchant account specifically designed for small to large-sized businesses of any nature who are looking for competitive merchant account rates.

One of the best parts of this offer is FREE Authorize.net. This deal is pretty hard to come by and is approx. $200 value based on the advertised prices you will see an most Authorize.net retailers.

Web Hosting Resellers and other ISPs also get a monthly savings of over $30 in fees based on a standard merchant account.
Both resellers and regular online merchants enjoy discounted transaction fees from Authorize.net (first 250 are free every month!)
A quick comparison of a regular merchant account versus our new reseller merchant accounts is as follows:

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Standard Account: (APPLY HERE)
Merchant Setup Fee: FREE
2.29% discount rate for MC/Visa
.30 per transaction
$10.00 Statement Fee
$25.00 minimum processing fee

Included Gateway: Authorize.net
Setup Fee FREE! ($200 value)
Monthly Gateway access fee: $15.00
250 free transactions then .05 each transaction after the 250th
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Reseller Special Account: (APPLY HERE)
Merchant Setup Fee: FREE
2.10% discount rate for MC/Visa
.20 per transaction
$10.00 Statement Fee
NO minimum processing fee

Included Gateway: Authorize.net
Setup Fee FREE! ($200 value)
Monthly Gateway access fee: $10.00
250 free transactions then .05 each transaction after the 250th
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If you are a reseller web hosting company, web hosting company, or online merchant from GlowHost or another site, these plans are right for you. This is the best deal around on a true merchant account from one of the best merchant account provider on the Internet. These accounts allow real time processing using the Authorize.net payment gateway.

A virtual terminal is included so that you can key in your customer card information right from your web browser.

[Christopher]

The Rates sound great but will I be able to enter a persons card and get approval from a phone order?

[Matt]

I do not see why that would be a problem, people do it all the time. You can ask a sales rep for the specifics I do not want to mislead you, but on the merchant accounts about that but typically a phone authorization is actually preferred by credit card companies because that reduces the ability for a customer to charge the order back. If you need specifics on it use this number: 877-279-4551.

It really depends on what you are selling and what the underwriters decide to do when they approve the account, some businesses are more high risk than others, so some stipulations apply based on what you are trying to do

The Authorize.net gateway comes with a virtual terminal that serves great for this purpose because you can key in orders from your web browser whenever you need it. Authorize.net also supports automated batching which means your customer enters the number in your shopping cart or billing system instead of you manually entering it and the fees are deducted from the customer's account in real-time.

[IdeaDirect]

Do you have to sign up for the merchant account to get the gateway deal?

We already have a great priced merchant account but are shopping around for a more cost effective gateway.

Thanks,
David

[Matt]

Actually the gateway prices you see require the merchant account. We have worked a special deal for the free authorize.net gateway from the merchant provider, but the stipulations require the package deal.

If you want me to see if I can match your current merchant account rates I will see what we can do, but no promises there, it is up to the underwriters. But I guess you can ask yourself if you are processing "X" amount of sales dollars will the difference in gateway fees make up for the new merchant account? You can Private message me on these boards or open a support ticket on it if you like and I will see what I can do for you

[Christopher]

David
Being a bit new to merchant accountsand gateway stuff what do you consider to be a great priced merchant account? Up to now I've been using paypal to collect fees for an online business directory. It seems good but people say it's expensive in the long run. I was just reading up and paypal does offer a Virtual Terminal . However it doesn't seem to be deposited at the end of every business day into you accout like Authorize.net does. and they each have a $20 fee except the fee is wavied at Authorize.net if your perecentage is higher than the twenty. any way I'm still confused.

[Matt]

Christopher,

I guess David left us ;(

Feel free to chime in if anyone has anything to add.

But you can think of it this way, which I think should clear up the differences between third party processors like PayPal , "vendors" like 2checkout and a true merchant account.

Lets say you are processing $1000 per month, and you are making that in 100 transactions.

Rates:
Lets say your PayPal account charges you 3% plus 30 cents per transaction, and $20 for the virtual terminal.

And lets assume your merchant account is set at a rate of 2.1% plus 20 cents per transaction, and $10.00 for the gateway/virtual terminal.

And for good measure lets throw in 2checkout.com at 5.5% plus 45 cents per transaction. (no virtual terminal offered)

Fee Breakdowns:
You would be paying PayPal $30 for their 3% rate plus another $30 for your 100 transactions (.30 x 100) so $60 per $1000 you make plus tack on $20/mo for the virtual terminal.
Total: $80

You would be paying 2checkout.com $55 plus an additional $45 for the "per transaction" fee.
Total: $100

Now the same example on the merchant account: You have $21.00 in fees for the 2.1% rate, then you have $20.00 in fees for your per transaction fee (.20 x 100) so you are at a base of $41.00 plus the gateway/terminal at $10.00.
Total: $51.00

As you can see there is quite a difference.

About the gateway:
The gateway essentially gets the card numbers from the Internet whether you key them in the virtual terminal, or your customers enter their card numbers themselves at checkout time on your shopping cart or checkout system. The gateway takes those numbers and supplies them to your merchant account in real time, across a secure protocol.

The gateway also has a monthly fee, and "per-transaction" fee in most cases, however, with our arrangement the first 250 transactions per month have no transaction fee. That means since you only did 100 transactions to make the $1000 dollars, there are no gateway "per transaction" fees because they give you 250 free per month. The gateway also has a monthly flat fee for the service. With this special offer it is $10.00/mo.

About monthly minimum fees:
The ISP merchant account has no monthly processing minimum. So it is exempt from a monthly minimum fee.

The standard merchant account has a $25.00 minimum fee. Using the scenario above, we did $21.00 in fees based on our 2.1% rate. Since the minimum is $25 for a standard merchant account, they will charge you $4.00 additional to make the monthly minimum.

Had the standard merchant account owner done $1500 in sales for the month, Their fees would have been $31.50 so they have met the minimum requirement.

The gateway is required for an online merchant account to work. Gateway fees vary. For this offer, standard merchants get the gateway for $15.00/mo and the ISP merchant account gets the gateway for $10.00/mo. Both accounts get 250 free transactions per month.

Why choose an Online Merchant account?
1. Merchant accounts make sense for those running $700-1000 or more through their web site each month.

2. If you already have a merchant account terminal at your "brick and mortar" storefront, and are using that to key in orders you take on the Internet, you may be in violation of your current merchant agreement, so make sure to check with your current merchant provider (if you have one) as you can loose your privileges to process credit cards as a merchant if you violate certain merchant agreements. These guidelines are provided from Visa and MasterCard (among others) directly, so if the find you are not upholding your terms, Visa/MC/etc may suspend your processing privileges across any vendor. However, the best way to be certain is to ask your current "brick and mortar" merchant provider their policy on the matter.

3. The accounts we offer are specifically geared for Internet sales and also have the AVS service built in which can help you determine fraudulent orders a bit easier than traditional merchant accounts.

4. Merchant accounts make more sense the more you make. If you are processing say $5000-$10000 or more a month, you will really see the savings add up. I'll do some quick examples below. This is PayPal, 2checkout and our ISP merchant account provided in the examples below.

Additional Examples:

PayPal:
$5000/mo in sales, 250 transactions:
Rate: 2.9% = $145
Plus transaction fees: 250 x .30 = $75
Plus virtual terminal: $20
Grand total: $240

2checkout:
$5000/mo in sales, 250 transactions
Rate: 5.5% = $275
Plus transaction fees: 250 x .45 = $112.50
Plus virtual terminal: N/A
Grand total: $387.50

ISP Merchant Account:
$5000/mo sales, 250 transactions
Rate: 2.1% = $105
Plus transaction fees: 250 x .20 = $50
Gateway/Virtual Terminal fee: $10.00
Gateway transaction fees: $0
Grand Total: $165

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PayPal:
$10,000/mo sales, 500 transactions
Rate: 2.9% = $290
Plus transaction fees: 500 x .30 = $150
Plus virtual terminal: $20
Grand total: $460

2checkout:
$10,000/mo sales, 500 transactions
Rate: 5.5% = $550
Plus transaction fees: 500 x .45 = $225
Plus virtual terminal: N/A
Grand total: $775

ISP Merchant Account:
$10,000/mo sales, 500 transactions
Rate: 2.1% = $210
Plus transaction fees: 500 x .20 = $100
Gateway/Virtual terminal fee: $10
Gateway transaction fees: 250 free then 250 x .05 = $12.50
Grand total: $332.50

So as you can see it makes sense especially for established and growing businesses to go with our merchant account offer. Depending on how you are accepting payments now it can mean an entire car payment in savings every month, if not more.

The more business you conduct, processing fee savings will grow exponentially.

Hope that helps

[Websync]

Matt,
What do you think of this merchant account?:

[removed]

They have no monthly fees at all and their percentages are lower too. I am not endorsing them. Just asking your opinion. If I decide to get a reseller account from Glowhost would I be able to use this merchant account instead of the deal with AuthorizeNet? What would be the pros and cons?

Thanks in advance.

[Matt]

Seems like a good deal to me from the copy I see on the home page...Give me a day or two on the reply, we are about to get pummeled with a hurricane here... I will read up on it while I install the hurricane shutters and get back with you after I read up on the fine print

[Websync]

LOL While your putting up the shutters?
The hurricane looks like it is hitting Florida really hard. I hope that all is well with you. There is no hurry - take your time and be safe.

Just let me know when you are back online, cause I would really like to talk to you about this and a reseller account.