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Payment Processing |
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In order to accept credit card payments over the Internet, merchants need two things in addition to shopping cart software: an online merchant account and a payment gateway account.
1) Payment Gateway Account - A payment gateway is a system that validates a credit card during a transaction and transfers funds to your merchant account. During an online transaction the shopping cart software (i.e. CartGenie) sends a request to the payment gateway provider asking it to verify that the credit card being used has sufficient funds to pay for the purchase. If it does, the gateway handles the transaction details and transfers the funds into the merchant account.
2) Online Merchant Account - An online merchant account is a bank account specifically designed for e-commerce transactions. It generally has a higher discount rate than traditional retail merchant accounts because the credit card is "not present" (i.e. the merchant can't look at it) during the transaction.
How do I get started? We've partnered with iTransact, a leading provider of payment services, to simplify the process of obtaining a payment gateway plan and merchant account. Since 1994 iTransact has been in the payment services business. iTransact's services enable merchants to authorize, settle and manage credit card or electronic check transactions anytime, anywhere.
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| Step 1: Order iTransact Payment Gateway (Order Now!) | ||
| Order your gateway account from J Street Technology and receive discount pricing. | ||
| Our Rates | Industry Rates | |
| » Set-Up Fee: | $99.99 | $149 - $250 |
| » Monthly Fee: |
$24.99 |
$20 - $35 |
| » Transaction Fee: |
NONE up to 500 monthly transactions * $0.14 for each transaction over 500 |
$0.10 - $0.25 |
| » Contract Term: | Monthly | 2 Years |
| Step 2: Sign-up for iPayment Merchant Account (Optional: See Below) | ||
| After placing your gateway order, we will email you the merchant account sign-up form for iPayment, Inc., a registered ISO/MSP of JP Morgan Chase Bank. | ||
| Our Rates | Industry Rates | |
| » Set-Up Fee: |
NONE |
$95 - $250 |
| » Monthly Minimum Fee: |
NONE |
$25 - $35 |
| » Monthly Statement Fee: | $5.00 | $12 - $20 |
| » Qualified Discount Rate: | 2.34% | 2.3% - 2.9% |
| » Transaction Fee: | $0.30 | $0.35 - $0.50 |
| » Contract Term: |
2 Years * Early cancellation fee - $295 |
3 Years * Early cancellation fee - $250
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| * Note: The iPayment Merchant Account is not required if you already have a merchant account. However, your merchant account must use a "credit card processing network" supported by iTransact. Below is a list of the credit card processing networks supported by iTransact.
What is a credit card processing network?
Credit Card Processing Networks Supported by iTransact: | ||
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