Setting Up A Merchant Account

ClickBid is a unique online tool in that you spend most of your time gearing up for the big event, have a flurry of activity during your event and then slow back down after the event. Getting a merchant account that works the same way can be tricky. Here’s what we’ve learned about getting online payments:

1. It is critical to find a merchant that can waive monthly minimum fees. Your major activity will occur most likely within a week rather than over months at a time.

2. Try to avoid contracts. 12 months is a long period to maintain an account (and therefore incurring monthly fees) for your single event.

3. Use your non-profit status to get better rates. Usually a phone call and some proof of a good standing 501(c)(3) does the trick. Look for rates to be in the low 2% range.

So this can turn you off to many popular payment gateways but never fear. PayPal is a quick and easy way to manage your payments. You will need to setup a virtual terminal so you can transact payments without requiring your guests to log into a PayPal account or enter data manually. We’ve also partnered with other providers to help reduce or even waive setup fees and reduce or even eliminate contracts. Give us a call or email to learn more.

Let’s face it, online payments are the next big (or should we say bid) thing so it’s a good idea to jump on board now.

Leave a Reply

You must be logged in to post a comment.