Owners of international, high risk or emerging businesses that require merchant accounts to accept credit cards online have many factors to consider when choosing a reliable merchant service provider.
At minimum, this payment gateway must provide optimal customer service. This includes rapid processing of financial information for every transaction, real-time reporting (i.e. whether a customer’s credit card is accepted) and around-the-clock service. Shoppers will not become buyers if they are confronted with frustrating roadblocks during a given transaction.
Customers will also opt out of an online purchase if they feel their financial information is not secure. Many American consumers are still not entirely trusting of e-commerce, so merchant service providers must try to match the high level of security provided by banks and leading third party providers.
Unlike some of these providers, many payment gateways offer significant website flexibility to businesses. Emerging businesses, especially, require dynamic platforms to succeed, not rigid, one-size-fits all models.
A payment gateway should also offer verification services to help deter fraud and strategies to limit chargebacks. Chargebacks allow customers to receive a refund on purchases they weren’t satisfied with or that they did not make, but they come at a considerable cost to merchants. Verification services, such as requiring an electronic signature or billing address, provide an additional level of protection to businesses and even consumers. Payment risk management and fraud prevention initiatives will become more critical during the next decade, as e-commerce embraces mobile payments and more people complete transactions on the internet.
But perhaps nothing is more detrimental to an e-commerce venture than crippling fees. Merchant account providers generally charge a fairly standard rate of about 20 cents per transaction, but other fees, such as those that accompany customer refunds, account activation and address verification, vary with different companies and can accumulate quickly.
Business owners have many payment service provider options to consider, but if they have a vision of what they want out of a payment gateway, the best solution should become readily apparent.
Businesses that have opened a new merchant account for their retail website may soon benefit from a recent Federal Reserve Board ruling that will affect the transaction fees they pay to debit card issuers..
A strong payment platform is key as the holiday season approaches. In a tight economy, consumers may want to spread their holiday spending out over the course of a few months, which means merchants will need to have their websites optimized sooner rather than later.
The act of swiping a credit card in the checkout line of a store could soon be replaced by the act of waving a smartphone in front of a sensor, which may have greater implications on mobile commerce and internet retailers that provide..
Customers are often on the lookout for bargains, price breaks or anything that convinces them that they are obtaining a great value for a service or product. That’s true whether they are shopping in a brick-and-mortar outlet or at a retail website.
Owners of international, high risk or emerging businesses that require merchant accounts to accept credit cards online have many factors to consider when choosing a reliable merchant service provider.
Online merchants face more risk than ever. With the continued evolution of mobile payments and emerging technology, fraudsters are finding new vulnerabilities to exploit and new ways to steal money from your bottom line. Unfortunately, there’s also another culprit lurking around, often unknowingly denting your bottom line – the overuse of fraud tools.
With more individuals becoming comfortable with the concept of online dating, the industry has experienced a boom in terms of use and profitability. As a result, companies that provide this service need to ensure they’re making use of the most beneficial tools and strategies, including payment processors backed by high-risk merchant accounts.
Once a company determines it requires a high-risk merchant account, it must perfect its customer service model. In an era driven by social media interactions, the consumer-business relationship is more direct than ever before.
Established internet businesses may eventually find that the opportunity is ripe for them to expand to different international markets. This can be a critical step in the progression of any business, and entrepreneurs need to ensure they’re approaching this milestone with caution.
A new study on the buying activity of consumers using tablets may encourage more businesses to develop a mobile payment strategy that accommodates the devices. Arranging such a payment service in conjunction with offshore merchant accounts may allow companies to tap into a profitable market at a lower cost.
With the limited supply of US merchant banks that want this business and the increase in affiliate and friendly fraud targeted towards the dating industry, it is virtually impossible to keep a dating website live long-term..
Whether they are working with domestic-based merchant accounts or offshore merchant accounts, e-commerce businesses need to keep on top of the money they spend to maintain these financial tools…
