June 8, 2010
what do you need to get a merchant account business started? how do you start your own small business/company
ali m asked:
i want to possibly look into starting my own merchant account business and i was wondering what steps do i have to take in order for me to get started.. do i have to get some kind of license if anyone could help me out with a few pointers i would be more than greatfull thanks.
i want to possibly look into starting my own merchant account business and i was wondering what steps do i have to take in order for me to get started.. do i have to get some kind of license if anyone could help me out with a few pointers i would be more than greatfull thanks.
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Comments on what do you need to get a merchant account business started? how do you start your own small business/company
Banks are the most frequent vendor sources of merchant accounts. Banks usually categorically deny vendor status to home-based businesses. Bankers are closemouthed about the reasons for this policy, but I’m unable to determine whether the source of this policy is the banks themselves, the federal examiners who regulate banks, or the Visa and MasterCard organizations. Whatever the cause, it’s a fairly blatant form of discrimination. However, individual banks can and do make exceptions.
Visa Merchants Card Management Guide:
accept.pdf?it=r4|/business/accepting_visa/new_acceptance/merchant_responsibility.html
|Card%20Acceptance%20&%20Chargeback%20Guide
Mastercard International Rules Manual:
Payment Card Industry Data Security Standard:
Data_Security_Standard.pdf