4/8/99 C. Edward Chow Page 1 Secure Internet Payment Processing

4/8/99 C. Edward Chow Page 2 Goals of Internet Payment Secure Reliable, 24x7 Low-cost – flat monthly fee, low per transaction fee. Low minimum amount Accept various forms of payment: credit card, debit card, ACH? and electronic checks. Scalable Fast

4/8/99 C. Edward Chow Page 3 Setting up Internet Merchant Account Identify the acquirer (bank) that support Internet Merchant Accounts. Consider application fees and per transaction fees. For a list of banks, – mlhttp:// ml Consider existing banks. Complete the acquirer’s applications. Take some time.

4/8/99 C. Edward Chow Page 4 Set up Payment Process Services The Internet Payment will go through the payment processing centers such as: –First Data Merchant Services –Paymentech –Nova –Vital –EDS –Norwest –Telecheck Your acquirer (bank) need to be able to connect and work with one of these payment processing centers.

4/8/99 C. Edward Chow Page 5 Building Online-Store There are a few options: 1.Let Web development contract firm build, integrate, and/or host e-commerce application 2.Choose shopping cart or e-commerce platform that incorporate payment services. 3.Building payment solution into your own e-commerce application

4/8/99 C. Edward Chow Page 6 Related Info