E-Commerce Business and merchants:
We all are very well aware that when Business and commercial activities are done Electronically it is referred as E-commerce. Sometimes back it was something which was considered as an advancement in the sector of Business and Commerce but now its a requirement and is taking over rapidly the whole of the market. Present and future of Shopping is online and will be completely online. And this the reason we are seeing numerous start-ups, entrepreneurs starting up with E-Commerce business and achieving their goals and growing globally. It has helped merchants to connect with their customers beyond the boundaries, and even made customer’s experience also fast, seamless, and most convenient.
A report says that E-Commerce Business sales will cross the figure of $638 Billion by 2018 in only US using the Mobile devices. Now when you are dealing with an online business in order to take a payment from your customer through their card or electronic check you will essentially need a merchant account. A PCI compliant Payment gateway which and be integrated with your E-commerce based Business website and allow your Customer to make a transaction online and help in placing an order and paying for it online. And Here is an important Role of Payment service Provider (Merchant Service provider) who will provide an account or gateway for Merchant to take the payments online. Since an E commerce Business can fall under either High Risk category or a low risk Category as per nature and transactions involved in Business a merchant applying for merchant account Must cross check for the business category :