Accepting Credit Card Payments: Progress Your Ecommerce Business to the Next Level
Expand Your Ecommerce Horizons
As your ecommerce site begins to expand, it is important to begin accepting more convenient forms of payment in an effort to increase consumer business. You are not making the money credit card Payment you could be when the capability of handling credit card transactions is not present.
Unlock the Potential
When you start adapting your website to this process, the setup can become quite intricate and detailed. It is very important to have all your ducks in a row long before the ability of completing a card transaction is necessary.
The Power of Credit Card Payments
Accepting credit card payments helps your business match the competition and increases overall success. Offering this option to consumers expands your customer base, creates additional sales opportunities, and enhances your business’s reputation.
Accepting Online Payments: What Items Are Required To Get Started?
Step 1: Technology Readiness
Accepting online payments does not have to be difficult if you know where to start from at the very beginning of this decision. The first thing you must do is have the technology aspects of your website in place. What exactly does this mean in regards to the site you currently have up and running?
Encryption and a proper programming interface are necessary to accomplish a secure transaction between customers. If someone is in charge of maintaining your website, they should already have the requisite knowledge to handle these two aspects of credit processing on the web.
Step 2: Merchant Account
You must apply for an internet merchant account through a bank or independent provider. Bank application processes require more documentation and are stricter on approvals. New companies without the paperwork to back up profit stability are better off applying with an independent provider.
Step 3: Internet Gateway Service
The provider of your account may be able to offer an internet gateway service as well. If they can, you will have an easier time setting up the website for accepting online payments. Moreover, if someone is responsible for maintaining your website, they ought to already possess the necessary expertise to handle these two aspects of credit processing over the web.
Gateways are the means for transmitting data between the service provider, financial institution, and the creditor. They play a crucial role in securing the data from fraudulent activity and facilitating the authorization and verification response. Gateways can be part of the merchant services account making it important to know what you are getting before completing an agreement.
Step 4: Fee Structure
Fees will vary per account and can include items such as monthly charges, individual payment rates, discount rates, and statement expenses. Ask to see a list of fees to ensure they match the amount of business you expect to receive each day as well as estimated individual purchase totals.
Step 5: Integration
Create the checkout forms, buttons, and other items needed to direct the customer through the payment process. HTML code from the merchant service will have to be input into your site code. This code is typically provided after all service options are properly set up.
Contact an AVPS professional today to see how we can help make this website transition easier for your business.