Internet Merchant Account

Merchants often find themselves wondering what the differences are between "merchant accounts" and "internet merchant accounts". The answer is that they are technically the same thing. Both are accounts opened with a card processor, registered to accepted Visa and MasterCard transactions. With Helcim, both offer free daily direct deposits to the merchant's bank account, and both show the merchant's name on the customer's card statement.

The only difference is that transactions coming from a retail environment are tagged "SWIPE" by the processor and ones coming from online are tagged "INTERNET". This allows Visa and MasterCard to recognize and transactions as e-commerce instead of retail.

In conclusion, if you wish to accept payments online you simply need to instruct your Helcim agent on the type of processing platform you require, and the appropriate merchant account will be opened for your business.

Frequently Asked Questions

Are "merchant accounts" and "internet merchant accounts" different?

Every time a merchant opens an account with a processor, they are opening a standard merchant account regardless of their business type. Transactions will be tagged "SWIPE", "MOTO" or "INTERNET" based on the entry method and the type of processing platform used by the merchant.

What is a processing platform?

A processing platform is the equipment, software or hosted solution provided by the processor to the merchant in order for them to input credit card transactions. Click here to learn more about the different processing platforms offered by Helcim.

Why do Internet transactions cost more?

Visa and MasterCard interchange costs (%) are higher for e-commerce transactions than standard retail transaction as they are deemed higher-risk. See the rates section to learn more.