Ecommerce via online shopping carts is an area of business that has come strongly into its own with the US department of commerce estimating that some 8-10% of the GDP ( Gross Domestic Product ) is now being generated online at online retailers
To transact online one almost always needs to use some kind of Visa or MasterCard or American Express Card.The exception is while using a payment entity such as paypal.
Because a credit or acceptable debit card is nearly always the transaction medium of choice it is necessary for websites to have authorized gateways via PCI approved shopping carts similar to 1shoppingcart.com online authorized shoppingcart and gateway.
A merchant account is required as the standard between banks and authorized gateway centers that use authorized PCI Compliant shopping carts like yahoo stores, monstercommerce or 1shoppingcart.
New rules coming into affect in the second quarter of 2010 by MasterCard, Visa and Amex are going to put even some very big well known retailers into trouble. It is even rumored that those using some well known opensource products like oscommerce, zencart and the beautiful magenta shopping cart product may no longer be compliance with the stricter rules.
A Vice President that I spoke to last month says that it will cost over $300,000 yearly just to be in compliance with these stricter rules.
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