There are many reasons that it is a great idea both financially and to better satisfy your customers buying experience by choosing to accept credit card payments in your business. This tactic is generally for online an offline use, but this article will focus more on the benefits of accepting credit card payments online, since almost every business around does it in their store. If you are looking for more information on subject of accepting payments via credit card and how it can positvely effect your business, or are looking to get better educated on the the subject for possible future use, this article will bring to you the information you may be seeking including, the main details of how accepting payments work using a payment system software as well as all the reasons that you should accept credit card payments online.
Accept Credit Card Payments – Overview of Payment Software
This section will give you the step by step process of exactly how a credit card payment software system works, sparing you minor technical details that you don’t have to worry about anyway. This system works will accept credit card payments within a minute or less. Before the process of verification is explained there are a couple steps you would need to take to be able to accpet credit card payments which are:
- Contact your bank or a third party company to set up a merchant account.
- Create or pay a programmer to create a form within your business website where the customers credit card information can be entered, if you don’t want to pay someone, there are many softwares online that will enable you to have this payment form on your website.
- You then you will need to purchase a software that provides the online payment method.
- Lastly you want to make sure that your customers payments are secure to avoid any fraud, and you do this by setting your website on SSL or Security Sockets Layer which can be set up by a programmer.
- The first step will take place when a customer of yours presses purchase on one of your items that are for sale. Then they will be sent to a page where they will enter in their credit card and personal information like their name and address.
- The next step will involve the software system verifying that the credit card does in fact belong to the person that entered their name. If all the verification goes through smoothly, then the credit card receipt will be sent the the customers credit card number and deducted from their account whatever the specific amount was on the charge
- The business, who will be enrolled in a payment accepting program like Paypal will then receive the payment from the credit company within a very short time period of hours or less. If anything goes wrong in any step of this, the customer will be denied and there will be no charge or activity on the buyer or sellers accounts.
Accept Credit Card Payments – Benefits of Accepting
- First off a great reason to accept credit card payments online is that it provides great convenience to your customers buying experience. Whether they come online and buy through your site because they don’t want to take a trip to yoru store, or they are looking to buy from you but reside at a location where it may be to far to travel, accepting payments online will bring in more financial gain each month as well as give your company a better reputation, so it’s pretty much a win win in this regard.
- This deals with accepting them in your store to if you aren’t currently provding this option as you can lose customers that are anticipating to pay with a card and don’t have any cash on them.
- The fact that 90 percent of all web purchases are in the form of a credit or debit card
- It makes your business look a lot more legitimate then if you are just accepting cash. Accepting credit cards show that you aren’t a take the money and run type of business.
- It will let you keep up with our competition because odds are they accept credit card payments already.