Ecommerce credit card processing is a big part of most businesses today. That is because of the demand by customers to be able to purchase goods and services online instead of or in addition to at a store or in person with a salesperson. Customers today want electronic commerce or mobile card processing options for their needs and as a business owner it is your responsibility to provide that in order to keep your company viable and on the upswing.
In order to make sure you have the right ecommerce credit card processing solution for you, you need to first understand it. If you can educate yourself on what ecommerce credit card processing is, why it is necessary, and what to look for, you will be ready to step into 21st century credit card processing for your business.
What You Should Know and Why
You probably already know how important it is to have processing of credit cards available to your customers even if you own a traditional land based business. However, if you own an online wireless business or you are setting up ecommerce for your company, you will quickly learn how important ecommerce credit card processing is. When a customer is at your website and ready to make a purchase, they want to be able to send payment and get the whole thing done right then and right there.
We live in a world of DVR’s and online TV viewing that allows everyone to get what they want right away. In order to tap into that market, you need to offer ecommerce to your clients. Along with that goes the ecommerce credit card processing. Being able to accept a credit card from your customer online makes you a more viable company in whatever market you are part of.
What to Look For
So once you decide you are ready for ecommerce credit card processing what should you look for? That is a great question. Just like with any other processing of payment, you are going to need to set up some sort of merchant account. Even if you just expand your current plan with a company, you still need to think about what is necessary for ecommerce to run smoothly. Consider a couple of factors.
For one, processing a credit card for ecommerce requires sensitivity to safety concerns. People get nervous when it comes to their credit card for good reason. When they are at your ecommerce site, they are going to be thinking a lot about security. That means that you are going to need to be thinking about security yourself. When you begin to look at ecommerce credit card processing options in terms of companies, you should be asking a lot of questions around encryption and security. You are going to want to be able to tell your customers that the processing of their credit card information will be safe on your ecommerce site.
The security piece you need if you already have a merchant account is called a gateway. If you are going with the same company that handled your payments before, they can probably help you with that. If not, you are going to need both the gateway and the processing service and so you will want to make sure you check on that as well. Fees can vary quite a bit on that stuff and you do not want to get caught paying too much.
How it Works
Once you have ecommerce credit card processing set up for your company, the process is pretty simple. In most cases, your customer will make a purchase online through your site. To pay, they will get a secure window where they will be asked to punch in their account information as well as address, phone number, and other verifying information about them. This helps not only with their security, but also with yours since fraud has to be a concern with any business owner. That card information is then encrypted, which means it is coded so if it is intercepted it cannot be read, and sent through the payment company. Then it works just like any other payment your company receives. Once it is set up, the whole cycle is pretty painless for you.
Ecommerce credit card processing is almost a necessity for any business trying to make its way in the modern world. However, there are simple facts that can help ease the tension of your transition. Make sure you find a good company to help you set it up. Next, make sure rates are comparable to what you pay for other plastic payments. Finally, understand how it works to ensure that your customers know what they are doing when they get to the site. Once you have done that, you are ready to step into the 21st century with your company.