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Ecommerce Credit Card Processing

The Best Credit Card Processing Options for Ecommerce Companies

  1. Easy Pay Direct
  2. Helcim
  3. Cornerstone Merchant Services
  4. PaymentCloud
  5. Mynt POS

1. Easy Pay Direct

By using EPD you can process any type of credit or debit card. They also allow merchant accounts to offer other payment options such as checks or online payments. Their products are compatible with most online shopping carts and they work with dozens of banks worldwide. EPD's platform is simple and intuitive to use for your business.

2. Helcim

Helcim is dedicated to providing you with a seamless credit and debit card processing experience. With Helcim you will always know exactly what you are being charged for. There are no hidden fees and no contracts when working with Helcim. Helcim allows you to accept payments any way you want whether it's online, in store, or through a mobile device. You will be given all the tools you need for successful debit and credit card processing.

3. Cornerstone Merchant Services

Cornerstone Merchant Services offers the most advanced features, the highest levels of security, and the lowest possible rates. CMS lowers the risk of complications while trying to process credit and debit cards. They have features such as automated recurring billing and electronic invoicing. You will receive detailed analytics with every transaction so you can rest assured your business is being taken care of.

4. PaymentCloud

PaymentCloud offers customized merchant services that will be tailored directly to your business. They are your full suite merchant service provider. With PaymentCloud you get protection from fraud and potential chargebacks. They work with low, medium, and high risk businesses. By choosing PaymentCloud you are bound to find the correct tools for your business.

5. Mynt POS

Mynt POS has everything you need for your point of sale. You will be able to accept all payment types when working with Mynt. Every Mynt subscription is protected by a lifetime warranty and free service whenever you have issues or questions. Dedicated remote installation and live training is provided by Mynt after signing up. Mynt is optimized to support your business needs.

eCommerce is a thriving industry that is just getting bigger and bigger, and it’s not hard to see why. Customers can shop from the comfort of their homes just by tapping their mouse or swiping their screen.

eCommerce makes up 14.1% of all retail sales in recent years, with that share expected to increase to 22% by 2023. The dollar amount of eCommerce sales was over four trillion in 2020.

With the use of smartphones ubiquitous in most countries, the share of online shopping has shifted from happening on the desktop to happening primarily on mobile devices - the majority of online shoppers prefer using their credit cards to complete purchases.

If you’re ready to get your slice of the online shopping action, you need to ensure you have your online credit card processing set up.

What is eCommerce Credit Card Processing?

People go online shopping all the time, but very few people think about everything that goes on behind the scenes to make their online transactions possible.

The process starts when a shopper enters their credit card information online.

The customer uses a secure page to enter their information. This page is known as a payment gateway. The payment gateway collects the information and sends it to the businesses’ merchant account processor.

The merchant account processes the information and makes a fund request from the cardholder’s issuing bank (Visa, Discover, etc.).

At this point, the cardholder’s issuing bank makes sure the transaction is legitimate and that the funds are available. If everything checks out, the business will receive the funds within days.

All of the details of the transaction and processing that take place behind the scene are handled by the businesses’ merchant account.

The merchant account is responsible for providing the payment gateway, processing the transaction, accepting the funds, and then releasing the funds to the businesses’ bank account.

Merchant accounts accept all forms of credit cards including Discover, Mastercard, Visa, and American Express.

Merchant accounts process all cashless transactions, so this includes debit, check, gift cards, and mobile app payments in addition to credit cards.

Is eCommerce High Risk?

Any business that accepts card-not-present payments is considered high risk. This means that all eCommerce businesses are high risk no matter what product they are selling.

Anytime a credit card is processed with the customer or business owner not present it increases the risk of fraud and chargebacks.

A customer could be using a stolen credit card, or a fraudulent business could illegally capture a user’s information. These are just some reasons why eCommerce businesses are high risk.

Some account merchants will not accept high-risk businesses. However, there are still plenty of providers that will work with your eCommerce business.

Why Do I Need a Merchant Account?

Processes Credit Card Transactions

As stated before, a merchant account is necessary to process any cashless transactions including credit cards.

There is so much a merchant account can do for your business, it’s hard to see how a business can function in today’s day and age without the ability to process credit, debit, and other forms of cashless payments.

Physical Equipment

If your eCommerce store has a physical counterpart, you can also get everything you need to process credit card transactions in person from your merchant account.

A merchant account provides POS systems and credit card terminals. It also provides a virtual terminal you can set up on your preferred device, whether it’s a laptop, tablet, smartphone, or all three.

Payment Gateway

Your merchant account can provide you with one, or several payment gateways for use on multiple websites.

A payment gateway is a secure page on your site responsible for capturing credit card information.

Once you have online payment set up you can also engage in other payment methods that can increase customer convenience and subsequently increase sales.

For example, you can save your customer’s credit card information so they don’t have to enter it every time they visit.

You can allow recurring payments or subscription services. You can offer loyalty programs, coupons, run promotions, give away gift cards or offer referral programs.

Digital Record of Sales

Your merchant account will keep a record of all payments no matter what form they take. They will also track any refunds that happened.

Having a digital trail makes keeping track of your revenue and expenses extremely easy. Software is typically compatible with tools like Quickbooks to make accounting even easier.

Increased Security

Merchant accounts should be fully PCI compliant and offer 3d encryption. This keeps your customer’s sensitive financial data secure when inputting their information online.

Decrease Chargebacks

A chargeback happens when a customer disputes a charge on their credit card statement.

A company that has a record of chargebacks gains a negative reputation among credit card companies, putting their ability to do business in jeopardy.

Chargebacks can be decreased by making sure your statement and receipts are clearly labeled.

They can also be decreased by proactively reaching out to customers to ensure they are satisfied with their product.

Merchant accounts can help with this by automatically responding to any customer with a complaint to offer refunds or replacements.

What’s the Catch?

Merchant accounts charge a price per transaction. This is typically a percentage of the sale. The rate can be fixed or variable depending on what account provider you use.

Because there are so many benefits to offering online credit card payments to your customers, the price will almost certainly be worth the many benefits a merchant account can provide.

Types of eCommerce Credit Card Processing

When it comes to online credit card processing, there are two ways you can go for your eCommerce store.

Payment Aggregator

Payment aggregators are also known as third-party payment processors. Some well-known payment aggregators are Stripe, Square, and PayPal.

The reason they are known as third-party payment processors is they essentially act as a middle man between a merchant account and a business.

The businesses that have an account with a payment aggregator all share one merchant account.

Payment Aggregators are often appealing to new or small businesses because of their simplicity. They have a standard application and can approve accounts very quickly.

Payment Aggregators typically charge a flat rate per transaction instead of a variable rate. The flat rate can be beneficial for small businesses because it allows for better planning.

Payment aggregators will accept some high-risk businesses, but they have a low tolerance for incidences like chargebacks.

Businesses with a high amount of chargebacks can run the risk of having their account frozen or terminated without warning.

Dedicated Merchant Account

A merchant account provider will set your business up with their dedicated merchant account.

Because the provider finds a merchant account specifically suited to your business, the application process is usually longer and approval time can take several days.

However, the more intense application process is usually worth it in the end as you’ll be working with a merchant account that understands your business model and can help your business succeed.

Merchant accounts typically charge variable rates per transaction fee which can be beneficial for businesses with high transaction volume.

Many merchant account providers specialize in high-risk businesses and can help enhance security and reduce instances of fraud and chargebacks.

Things to Consider Before Choosing a Merchant Account


Every merchant account will charge a price per transaction fee. This is typically a percentage of whatever the transaction amount is.

Some accounts will also charge a flat fee per transaction in addition to the percentage.

Payment aggregators typically charge a fixed transaction rate (with sometimes a flat fee), while dedicated merchant accounts will offer a variable transaction rate.

In addition to transaction percentages, your contract may include additional fees. Some of the fees you may have to pay are:

  • One-time Set-up fee
  • Annual PCI compliance fee
  • Annual statement fees
  • Early termination fees

Make sure you understand all the fees you’ll have to pay ahead of time to ensure the pricing structure works for your business.


Ensure your merchant account provider is fully Payment Card Industry (PCI) compliant.

Being PCI compliant ensures that the merchant account is held to cutting edge encryption standards, uses firewalls to protect data, and uses other advanced techniques to protect customer data.

Customer Service

An online business never sleeps. Customers can access your website and make payments any time of the day, every day of the year.

Your merchant account needs to offer customer service that keeps up with your business. Look for 24/7 live customer service.


As a high-risk business, it may be beneficial for you to seek out a merchant account provider that specializes in high-risk businesses like eCommerce.

These types of merchant account providers are familiar with your business model and can help your business succeed by offering chargeback protection, enhanced security, and more.

Additional Tips & Considerations

Make Sure Your Application is Rock Solid

As eCommerce businesses are high risk, your application has a better chance of being accepted if you make sure you’ve spent time developing a successful business plan.

Before you send in your application you may have to submit a business plan, three months of business expenses, as well as an explanation of any history of credit issues.

Make Your Website Mobile Friendly

Online shoppers are more likely to shop via a mobile device than on their desktop. This means your website should be mobile friendly to make the most sales.

Consider Offering Free Shipping

Research suggests that customers are more likely to abandon their online shopping cart if they have to pay for shipping.

Free shipping reduces shopping cart abandonment thus increasing sales for your business.

Other reasons for abandoning the shopping cart include slow or unclear delivery times, so make sure your shipping policy is clearly spelled out on your website!

Final Thoughts

For your eCommerce business to succeed you’ll need a merchant account to set up your payment gateway and begin processing credit card transactions.

A merchant account offers so much more than just credit card processing. They offer physical equipment for those who have a physical counterpart to their online store.

Merchant accounts also offer enhanced security, protection from fraud, and reduce instances of chargebacks.

New businesses are often attracted to the simplicity of payment aggregators such as Square or Stripe. Payment aggregators offer quick approval and flat-rate transaction fees. This makes them easy to set up and use.

However, they also have a low tolerance for chargebacks making them a poor choice for businesses that have a high incidence of chargebacks.

A merchant account provider has a longer and more thorough application process so they can find a merchant account that is suited to your business model.

Merchant accounts charge variable transaction rates that can benefit businesses with high transaction volumes.

eCommerce is a rapidly growing industry with great potential for entrepreneurs. With a solid business plan and the right merchant account to help you your business is sure to thrive.

Recap: The Best eCommerce Payment Processors

Merchant Accounts

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