Online Merchant Account

To process online payments to your bank account, all banks require you to have an Online Merchant Account. This differs from an EFTPOS facility, because the risk profile of transactions online is different.

Acquiring online merchant facilities

Acquiring an online merchant facility from your bank
Establishing a system for processing credit cards online is a relatively simple process, not unlike acquiring a merchant facility to process credit cards via an EFTPOS terminal.

Do you need one?
Your EFTPOS merchant agreement does not permit you to process payments using credit card numbers acquired online.

Credit card details acquired on a website offer a different risk profile to banks. The banks also offer customers, using credit cards online a higher amount of consumer protection, including different refund options.

Hence, an online merchant agreement is required to acquire and process credit card details acquired from a website.

OPTIONS

• PayPal (Business Account recommended with verification option)
  • Transaction Fees (No Setup Fee - takes 2-3 days for verified account)
  • Do not have to be a PayPal member to pay with credit card
  • PayPal Worldwide
    
  
   
• NetRegistry    
  What do you need to do?
  The online merchant agreement requires you to complete a number of tasks:
  • Completion of an application form
  • Presentation of an outline business plan
  • Payment of an application fee

  How to get an online merchant facility
  It is best not to attempt to get one from your bank manager - branch managers tend to be relatively uninformed about their ecommerce payment systems.

  To acquire an Online Merchant Account, you will need to apply to the bank directly
  (Fast track this process through one of our preferred partner banks of St George and National Bank).
  
  If you prefer to keep your account with a different bank you can open your Online Merchant Account with our preferred partner banks and the account can be linked to any nominated bank account, e.g. Commonwealth, Westpac etc. The money is transferred at the end of each business day to your nominated account, and there are no bank fees associated with the transfer of funds.
  
  

• Eway
  
• Others available subject to demand