For many people, any transaction involving money requires a sense of confidence. There is an implied trust when money is going from one person to another, whether that money is meant to pay for a service or a specific product. The person handing the money over wants to know that it is being exchanged for the specific thing that they want, and the person receiving the money wants to know that she/ he is getting the right amount, in timely fashion. All such issues are clear when transactions are in cash. But everything changes when using credit or debit cards. Though there is an agreement that actual money would be given to the seller at some point, he or she has to rely on the merchant account provider for payment.
Online payments have made both sides of the transaction even more complicated. Both buyers and sellers are dealing with intangibles and must feel confident about the transaction. Rather than handing over cash and accepting a product or service immediately, the buyer pays with a digital stand-in for cash and accepts that the product or service will arrive later. This is where being confident about your wireless merchant account becomes so important.
Merchant account solutions make it possible to send and receive payments online, providing tremendous flexibility and versatility to businesses selling products and those offering services.
Choosing the right one for your company and using a few simple tips can help you accept and send payments online with confidence:
- Shop several merchant account providers before choosing one. Compare all of their features and offerings to determine which one gives the most for your fees. Be sure to take the time to check into their reputation, especially with agencies such as the Better Business Bureau, so you can feel confident you are choosing to work with a company who has given other businesses honest and reliable service
- Send payments only through verifiable credit card merchant services. Do not pay for products or services by wiring money or sending money directly from your bank account to someone else’s account. This eliminates the protections of a merchant account and puts you at risk of losing your money
- Request and send receipts. Having a receipt and a confirmation of payment gives you security that your payment was received and what that payment covered. This creates a paper trail in the event that the transaction does not come to a satisfying conclusion.
- Always utilize buyer or seller protection features with each transaction. Take the time to find out about these protections for your specific account and always use them so you and the other person in the transaction are fully protected.
Call AVPS at 1-800-719-9198, to find out more about merchant accounts and how you can buy and sell online with confidence.