What is Ecommerce?
Are you new to ecommerce and have a lot of questions? Don’t worry we’ll outline basic steps to help you get you started.
1. The first step to setting up an online store is to select an on-line store application,
for example EasyStoreMaker Pro.
2. The next thing you will need to do is set up a Merchant Account if you plan to accept
online credit card transactions. A merchant account will help you process credit
card transactions and also transfer funds into your checking account.
3. If you accept on-line credit card transactions you will have to sign up for
a payment gateway supported by your online store application and a merchant
account.Examples of Payment gateways are E-xact.com and Authorize.net
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How Ecommerce works
Online stores, merchant accounts and payment gateways, how do all these tie in together? It might sound confusing at first, but don’t worry, here’s how it works.
1. User logs on to online store and chooses item to purchase
2. User enters in credit card number. This transaction information is passed via
a payment gateway to the banking network.
3. The banking network then passes this information along to an acquiring bank where
the merchants account is held.
4. The acquiring bank then transfers funds into the merchant’s local bank account.
That’s it!
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