Finding the right merchant account is essential when setting up your online business. Authorize.Net is one of the most popular and trusted payment processing solutions, offering a wide range of services to help you accept payments quickly and securely.
In this ultimate guide, we’ll outline everything you need to know about Authorize.Net merchant accounts, including selecting the best account for your business, setting it up and using it to your advantage.
With the right Authorize.Net merchant account, you can take your business to the next level and start accepting payments from customers worldwide. Don’t wait any longer. Read on to find out how to get the best Authorize.Net merchant account for your business.
What is an Authorize.Net Merchant Account?
If you’re setting up an online business, one of the first things you need to do is choose a payment processing service. A payment processing account allows you to accept payments directly from your customers, which is essential for any online business that sells products or services online. A payment processing account is also known as a merchant account.
With a merchant account, you can accept various payment types, including credit cards, debit cards and more. You can process payments using your computer or mobile device, which means you don’t have to have a physical location (like a shop or office) to take payments. Most payment processing companies, including Authorize.Net, offer merchant accounts for businesses of all sizes. Anyone who wants to start taking payments online can set up these accounts.
Benefits of using Authorize.Net
There are many benefits to using Authorize.Net to process your payments, including low-cost transaction fees, fast transaction times and a wide range of payment options. Authorize.Net offers a variety of different account types to fit the needs of any business.
If you’re just starting and accepting a few monthly payments, consider using an account with a lower payment threshold. On the other hand, if you’re expecting a high volume of payments and want to accept various payment types, you should use an account with a higher threshold so you can scale up as your business grows.
In addition to these account types, Authorize.Net offers a wide range of payment options, including direct integration with your website, mobile apps and more.
How to Choose the Best Authorize.Net Merchant Account for Your Business
When selecting an Authorize.Net merchant account, you should consider a few things. First, you’ll need to decide how many payments you want to accept per day, known as the payment threshold. If you accept a large volume of payments, you’ll want to use a high threshold, so you don’t get stuck with many payments holds or rejections.
However, if you have a few daily payments, you should use a low threshold to keep your account active. You’ll also need to decide what payment types you want to accept. You can accept more payments by adding more payment types to your account.
For example, if you accept just credit cards, you can add a debit card payment type to accept more payments. You’ll also want to decide if you want to offer recurring payments and if you want to use a companion service like Fetch API.
Best Authorize.Net Merchant Accounts
CDG Commerce
CDG Commerce, a business account provider, based in Chesapeake, Virginia, has been privately owned since 1998. CDG Commerce offers special prices to merchants who connect their accounts to the Authorize.Net network, waiving the setup charge and charging only $15 per month and $.05 per sale. In addition to Authorize.Net, CDG provides retail and mobile solutions and its Quantum Gateway.
With month-to-month agreements and no early withdrawal penalties, CDG Commerce offers flat per-transaction rates. The company has a relatively low complaint total given that it has been operating and growing since 1998, with the same ownership throughout. CDG Commerce received an “A+” grade in our review, and the BBB likewise gave the company an “A+.”
Shopify
Shopify is mainly remembered as just an e-commerce platform used by retailers, but the company also provides iPad and iPhone point-of-sale software. Shopify integrates with the Authorize.Net payment gateway. The Shopify POS app accepts credit cards with a headphone socket card swiper or a $129 EMV scanner. It provides capabilities like inventory synchronization with a web store, mailed invoices, automatic tax computations, rudimentary email marketing, and refunds.
These online payment alternatives, as well as the knowledge of the Shopify brand, are ideal for retailers who will feel at ease while utilizing the service. The Shopify payment platform can also be used with a Shopify web retailer, which offers several customization options. Shopify POS is ideal for merchants who want to take money on-site with their smartphones and via online billing. Shopify has an “A+” rating from the Better Business Bureau, and we agree.
Host Merchant Service
Host Merchant Services is a merchant account provider situated in Newark, Delaware, focusing on e-commerce solutions. The business wants to sell the Authorize.Net payment gateway and additional services such as automated recurring invoicing, fraud prevention, a secure customer data manager, check acknowledgment, internet marketing tools, gift and fealty initiatives, merchant cash advance, and subsea vendor accounts. Host Merchant Solutions also offers new merchants a free site and email address.
Host Merchant Solutions has received positive comments in open forums, with most reviews praising the company’s customer service. Host merchants receive interaction pricing with no fees for early termination. Ensuring that consumers have the most open pricing model and, therefore, can quit service without consequence. The BBB rates Host as “A+,” while CPO rates the company as “A+.”
How to Set Up Your Authorize.Net Merchant Account
When you first get your account, you’ll need to set it up and verify your identity. First, you’ll need to provide your personal information and select a payment type. Next, you’ll set up your account’s parameters.
This includes information like your business name, your address, your website URL, etc. Once you’ve set up these basic details, you’ll need to verify your identity by submitting your identification and other documents.
This step is very important because it helps prevent fraud and identity theft. You’ll also need to set up recurring payments to accept subscription payments. Finally, you’ll need to apply for account funding.
Your financial institution will conduct a brief check to ensure that your account is in good standing and that you are whom you say you are. After completing this process, your account will be activated and ready to accept payments.
How to Use Your Authorize.Net Merchant Account
Once you’ve set up your account, you’ll need to begin accepting payments. This can be done by entering your payment details into your website or using an app to accept payments on the go. You can also accept payments over the phone or by mail if your customers prefer these methods. When a customer makes a payment, they’ll select the payment type they want to use, such as credit card or debit card, and enter their payment details.
Once they submit their payment, it will be sent to your account, and you’ll receive an automatic notification. At this point, you’ll need to mark the payment as accepted or rejected. If the payment is accepted, you’ll need to transfer the funds to your bank account as soon as possible to avoid getting hit with fees.
Tips for Using Your Authorize.Net Merchant Account
Know your payment threshold
Every merchant account has a payment threshold, the number of payments you can accept in 24 hours. If you exceed this amount, your payment holds will start to get backed up, and your customers will be frustrated by the delays and rejections. You should know your payment threshold and stay below it to avoid this.
Use recurring payments
If you’re setting up a subscription service, you can use recurring payments with Authorize.Net to collect payments automatically from customers each month. This will help you grow your business while saving time and increasing customer satisfaction by removing the burden of remembering to pay each month.
Stay up to date with the latest features
To maximize your account’s features, you’ll want to keep up to date with the latest news and updates. This means reading blog posts, following social media accounts, and joining online forums to discover new ideas, suggestions, and tips for improving your business.
Conclusion
Now that you know everything there is to know about Authorize.Net merchant accounts, it’s time to select the best account for your business and set it up. Whether you’re just starting and expecting to process a few payments a month or a high volume of payments and want to accept various payment types, there is an account for you. Start accepting payments today and take your business to the next level.
