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If you plan on accepting credit cards for your storage auction business, the traditional route is to use a merchant account. Typically, a merchant account will supply you with a credit card reader that can hook up to your cash register or run independently from it. Depending on which merchant account you choose, you are looking at monthly payments and/or transaction fees ranging from a few percent on up. I highly recommend setting up your payment gateway and merchant account through Authorize.net.

Authorize.net will set you up with a virtual point of sale system on your own internet-connected computer. You can accept credit cards as well as checks. Since Authorize.net is the leading Gateway in small & medium businesses since 1996, I think it will benefit you to learn more about the company and how to set up a merchant account with them. For starters, a payment gateway with Authorize.net allows you to authorize, settle, and manage credit card and electronic check transactions from your web site, retail/warehouse store, mail order/telephone order (MOTO) call center or mobile device!

First, click on this link to start your application.

You will go to a web page that looks like this:

Authorize.net Merchant Account Application

 

Enter your first name, last name, company name, email address, and phone number, then click “Next.” On the following screen, you will see this:

Authorize.net Merchant Account Application

Since this is your first time using the site, you will need to click on the “Create Login ID” button. When you click this, you will be taken to the following screen:

Merchant Account for your storage auction business

On this screen, enter your e-mail address and a secure password twice. Then, click the “Create Login ID” button.
You will be taken back to the previous screen where you can now login with your e-mail address and password. Once you login, you will see the following screen:

Merchant Account Application

In order to get your account set up correctly, you must select “Card Present – Retail (point-of-sale)” from the drop down box below the question “What is the primary sales channel for your business?” You must also select “Payment Gateway for Credit Card Processing” and “Internet Merchant Account for Credit Card Processing” below the question “What services would you like to apply for?” See the image above.

In addition to those two required options, you may also select any of the value added services:

Electronic check processing using eCheck.Net
Fully integrated electronic check payment method

Automated Recurring Billing (ARB)
Convenient and easy-to-use tool for managing recurring transactions

Advanced Fraud Detection Suite (AFDS)
Customizable, rules-based filters and tools that identify, manage, and prevent potentially fraudulent transactions

Customer Information Manager (CIM)
Allows merchants to store their customers’ sensitive payment data on our secure servers for future transactions.

When you click “Next”, you will be prompted to provide company and owner information. Once you fill out this form and click “Next”, you will be prompted for your payment information. Have your business checkbook ready so that you can enter your routing number and account number.

Next, you will be prompted for some information to set up your new Internet merchant account. For “Monthly Vista/MasterCard/Discover Sales Estimate”, enter 3000. “Average Transaction Amount”, 30. “Maximum Per Transaction Amount”, 2000. You can fill out the rest of the form to the best of your ability.

The beauty of setting up your merchant account through Authorize.net is that you will be able to accept credit cards in person, as well as online through your very own website which we will discuss later in the course.

Merchant Account Payment Gateway Features

Authorize.net Merchant Account Pricing
AUTHORIZE.NET and the Authorize.Net logo are trademarks of CyberSource Corporation.

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