Online Credit Card Processing

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Online Credit Card Processing

Enhance the way you do business by signing up for online credit card processing. When you get approved for a merchant account, you can buy or lease equipment that will let you process credit cards online instantaneously. Your customers will appreciate the convenience of paying with plastic using online processing that will speed them through checkout.

Online credit card processing will facilitate the payment process, thereby encouraging customers to make credit purchases that they might otherwise limit by paying with cash or check. A merchant services account lets you choose from several processing options to meet your customers' needs. You need follow only a few short steps to become authorized to process credit card payments.

Steps to Online Credit Card Processing

The first thing you need to do is to find a lender, usually a bank that offers merchant accounts. You may want to compare terms among two or more prospective banks to get the best possible deal for your business or company. Find out what the eligibility requirements are, and after narrowing your choices, apply to the top one or two merchant account providers. In most cases, you can probably submit an online application within a matter of minutes and get a response within a few days.

Then you will need to choose a gateway that will connect you to the transaction clearinghouse. Credit card swipe machines may be the most common form of processing. You've seen them in numerous retail establishments sitting on countertops or perched in drawers beneath the counter. Desktop software is another way to process credit payments that are mailed or emailed to the merchant. The accountant or another employee manually keys in the credit card number with related data to a software program that juggles the figures to process payments and issue receipts, bills, and credits, as needed. Online customer payment entry is a third way that credit card payments can be processed in real time by moving the payment from the website to a different modem walkway for checking credit card information.

Simplifying Your Business Transactions

Using the Internet to process credit card payments via electronic transactions is a lot easier than accepting cash and checks, which are then processed manually and may involve making change or handwriting a receipt, in some cases. It is important to learn the facts about each type of system to find the one that will best suit your business needs. You will want to compare costs, since some merchant account providers will bill you a percentage rate on each credit transaction, while others charge a set amount, such as thirty-five cents, each time a customer pays by credit. You also can either lease or buy the necessary equipment, and you sometimes can choose between new and used models.

That's why you should take a little time to become familiar with online credit card processing options before signing a contract for your merchant services account. Find out all you can about setup fees, maintenance costs, and operations management to ensure that your system will continue operating efficiently after installation.

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