{"id":21730,"date":"2019-03-19T10:47:26","date_gmt":"2019-03-19T10:47:26","guid":{"rendered":"https:\/\/virtuous.org\/raise\/2019\/03\/19\/how-to-get-the-best-merchant-account-for-your-organization-faq\/"},"modified":"2019-03-19T10:47:26","modified_gmt":"2019-03-19T10:47:26","slug":"how-to-get-the-best-merchant-account-for-your-organization-faq","status":"publish","type":"post","link":"https:\/\/virtuous.org\/raise\/how-to-get-the-best-merchant-account-for-your-organization-faq\/","title":{"rendered":"How to Get the Best Merchant Account for Your Organization [FAQ]"},"content":{"rendered":"
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Whether setting up online fundraising for the first time or wondering if you could do better with another merchant account provider, here\u2019s what you need to know.<\/p>\n\n\n\n

Typically, merchant accounts are a topic discussed only under the harsh fluorescent lights of the finance department or in the dark back office of Internet engineers like me. <\/p>\n\n\n\n

There\u2019s little wonder why they are largely misunderstood by organizational leaders and fundraisers.<\/p>\n\n\n\n

Unfortunately, some merchant service providers hide behind this confusion and charge hidden or ridiculously high fees.<\/p>\n\n\n\n

Another hair-pulling issue is the time it can take to get everything set up to receive donations online. <\/p>\n\n\n\n

Some merchant account services can take days to process your application!<\/p>\n\n\n\n

That\u2019s why at RaiseDonors, we\u2019ve developed relationships with various merchant account services so that we can get your online fundraising program up and running securely within minutes, not days.<\/p>\n\n\n\n

What are merchant accounts?<\/h3>\n\n\n\n

Merchant accounts are business bank accounts that allows organizations to process transactions online, through mostly through debit or credit cards.<\/p>\n\n\n\n

Just like other business bank accounts, most of them require some kind of application process.<\/p>\n\n\n\n

What is a payment gateway?<\/h3>\n\n\n\n

Payment gateways are the technology that collects, stores, and sends the donors payment information to the merchant account for processing. <\/p>\n\n\n\n

In every online transaction, a payment gateway and merchant account are used to process the transaction. <\/p>\n\n\n\n

Is RaiseDonors a payment gateway or merchant account?<\/h3>\n\n\n\n

Neither. But we have partnerships with both payment gateways and merchant accounts so that you not only get the best deal in terms of price, but also in quality of service. <\/p>\n\n\n\n

Who are RaiseDonor\u2019s merchant services partners?<\/h3>\n\n\n\n

RaiseDonors only works with two gateways: Authorize.net and Stripe. <\/p>\n\n\n\n

We\u2019ve limited the number of merchant service providers we work with on purpose so that we can develop mutually beneficial deals for our customers.<\/p>\n\n\n\n

Can I shop around for a merchant account that gives me better rates?<\/h3>\n\n\n\n

With Authorize.net, absolutely! Authorize.net works with mostly any merchant account. So shopping around in this regard is a good idea. <\/p>\n\n\n\n

But this is where our partnership comes into play. <\/p>\n\n\n\n

We work with Authorize.net’s  No. 1 reseller for merchant account services. Because of our partnership, we\u2019re able to offer\u2026<\/p>\n\n\n\n