Your Own Website

One of the most exciting things about having your own websites is the opportunity for your business to create new customers and take payments directly through your internet site.

You may already take credit card payments in the normal course of your business, but to take payments over the internet you will need to have an Internet Merchant Account. Your bank will provide details but typically you need to have been in business for several years before they will grant you one. Obviously this can be a problem for new businesses and start ups.

You will also need a gateway provider, in order to facilitate the actual processing of credit card transactions.

Probably the easier method for exploiting ecommerce is to use the services of a 3rd party who will provide a merchant account and gateway solution. One of the most popular is from a company called WorldPay. They have an easy to use solution for small businesses, but there are costs attached:

Setup Fee: £100
Annual Charge: £160
Credit Card Charge: 4.5 % of each transaction
Debit Card Charge: 50p per transaction.

"This can be a problem for new businesses and start ups."