WASHINGTON, Oct. 12, 1999 The Bank of America is launching a service that makes it easy for small businesses to build an online storefront, joining Amazon.Com, Wells Fargo and a host of smaller companies in the e-tail service field. Consumer advocates said the entry of major players would help protect small merchants from scam artists and foster competition online.
Small businesses have been victimized by some very unscrupulous players as they seek credit card merchant accounts, Web hosting and other services that seem simple but sometimes arent, ConsumerAffairs.Com President James Hood said.
"Others have been dissuaded from going online by the seeming complexity of building and running a Web site. This should encourage more of them to take the plunge -- which in the long run is good for consumers since it creates more competition on the Internet."
The nations second-largest bank, headquartered in Charlotte, NC, has about two million small business customers and hopes its new service, called Online Order Center, keeps those customers from straying.
The bank will charge merchants $100 per month plus a small transaction fee for each credit card purchase. It will also build simple Web sites for a few hundred dollars.
