With the rise of third-party payment processors, setting up an online shop has never been simpler. Anyone can launch a full-scale eCommerce business in just a matter of hours. After all, options like Stripe, PayPal, Authorize.net, Braintree, and Square have straightforward, user-friendly platforms.
Contact your prospective payment processors, submit your application, then wait for their approval. Once you have an account, they’ll send the instructions to set up your payment gateway. Most direct and third-party processors offer turnkey online payment processing solutions, so you don’t have to worry about coding or programming anything.
Have you ever wondered why direct processors reject online entrepreneurs? Processing Card has the answer! Check out our quick guide explaining why processors classify eCommerce businesses as high risk.
We generally advise SMBs to go for payment processors. While coding your payment gateway from scratch offers better flexibility, building and maintaining one is time-consuming. Small businesses with a limited workforce would only end up increasing their overheads.
On the other hand, payment processors offer out-of-the-box solutions. Leave the payment processing responsibilities to the pros so that you can use your extra resources on business operations. Even global enterprises rely on third-party processors.
Also, there are dozens of online payment processors on the market. You can choose from large institutions like Chase Paymentech and high-risk third-party payment gateways like Authorize.net. With a bit of comparison shopping, you will definitely find a suitable processor.
Do you keep getting offers from shady processors? Processing Card can help! Read our quick guide on the different red flags to avoid when looking for eCommerce payment processors.
Florence Carpenter is passionate about ensuring that the process of opening merchant accounts is as straightforward as possible. She graduated from the University of Michigan with a bachelor’s degree in Marketing.
