The easiest way to get merchant account is to apply through a Merchant Account Provider, a company that helps set you up with the proper merchant account, and provides the software and hardware you'll need in order to perform credit card transactions on your web site.

There are a huge number of merchant account providers and their services are all a little different.

Basically, merchant account providers will open an account for you at a financial institution (a bank with whom they're partnered) that can handle Internet transactions, and approves your credit history.

Although many merchant service providers advertise the best and lowest rates, your discount rate depends on several factors that every merchant service provider is subject to. These factors include monthly transaction volume, transaction method and what type of business you have. Merchant Express has the lowest discount rate for internet merchant accounts.

There are also optional fees related to transactions' screening for fraud. Electronic Transfer is one of the few merchant account providers that bundle it for free.

Many merchant account providers do not accommodate international businesses. If you live outside the US, in order to obtain international merchant account you can go with third party credit card processors or work with a merchant account provider that specifically deals with foreign firms.

Fees for international merchant accounts will be higher than if you were a US based business.

The most reputable companies that has relationships with international banks and processors and can provide you with an international merchant account are CreditCardCommerce.com and Charge.com.

Below I list top internet merchant account providers, including those dealing with international merchant accounts.

Charge.com

One of the most popular credit card merchant account providers on the Internet. Over 75,000 merchants have already applied to accept credit cards with them.

As well as setting you up to accept credit cards on your website, Charge offers e-check services and a free shopping cart. Web hosting and design services are also available.

Charge's Internet merchant accounts, real-time credit card processing and virtual terminal solution enables both automated credit card processing for website orders and manual processing of email, phone, mail, fax and face-to-face orders.

Both you and your customer receive email confirmation of the order. The funds from the transaction are transferred to your bank account within 2 to 3 business days.

Application: Free
Start Up Fee or Lease: $195 one-time payment or $49.95 per month lease for 8 months.
Discount Rate: 2.29%.
Transaction Fee: $0.30.
Monthly Statement Fee: $10.
Monthly Gateway Fee: $15.

For international merchant accounts Charge.com has a $49.00 set-up fee and charges 45 cents per transaction, plus 5.5% of the transaction.

CreditCardCommerce.com

CreditCardCommerce.com, in business since 1986, is one of the world's leading providers of merchant accounts for real-time credit card processing. Its Internet merchant accounts service can also include free hosting.

Virtual WebLink allows Internet-based businesses to authorize and accept credit card processing transactions without worrying about all the complicated software, hardware and expertise normally associated with processing payments over the Web. This is one of the Web's best real-time credit card processing systems.

Virtual WebTerminal allows you to enter payment information manually for phone, mail, fax or retail orders. The Virtual WebTerminal enables businesses to authorize and manage credit card processing transactions from any computer with an Internet connection and a Web browser.

Application: Free
Start Up Fee or Lease: $429 one-time payment or $28 per month lease for 12 months.
Discount Rate: 2.30%.
Transaction Fee: $0.30.
Monthly Statement Fee: $9.
Monthly Gateway Fee: Not specified.

CreditCardCommerce.com offers a complete package for businesses seeking real-time international merchant accounts.

Their service includes an international Internet payment gateway, connected with an international merchant account, so you can do business worldwide.

Your sales funds can be deposited into any bank anywhere, in 26 currencies, and your customers can pay you in any of the 140 world currencies.

To apply for international merchant account, once you enter the site, click on "Free Application" and then on "International Merchants" under "Free Merchant Account Applications".

Electronic Transfer

Very popular merchant account provider with 98% approval rate (!). It means that if you've been declined elsewhere Electronic Transfer can help you accept credit cards.

Perfect solution for companies without an established business credit history.

Application: Free
Start Up Fee or Lease: Contact merchant account provider.
Discount Rate: 2.25%.
Transaction Fee: $0.30.
Monthly Statement Fee: $10.
Monthly Gateway Fee: Not specified.

Merchant Express

An experienced company with thousands of customers. Allows you to accept all major credit cards and bank ATM Debit cards, at the lowest possible cost.

Virtual Terminal - allows you to manually process mail and telephone credit card transactions, as well as issue credits, just like a real physical terminal, but with the added flexibility of letting you access it from any Internet connection in the world.

WebLink - allows you to link your web site to the system in order to accept credit card payments from customers in real-time with complete automation.

ADC (Automated Direct Connect) - provides a mechanism to link more complex web sites with the transaction gateway server, requires custom programming.

Application: Free
Start Up Fee or Lease: Contact merchant account provider.
Discount Rate: 2.17%.
Transaction Fee: $0.25 + $0.05 AVS (Address Verification) fee.
Monthly Statement Fee: $9.95.
Monthly Gateway Fee: Not specified.