Accepting Online Payments for Businesses

As a small business owner, you may be wondering what third party processor to use to conduct transactions on your online store, especially if you’re feeling pressure from COVID-19 reducing or eliminating the number of in-store customers you have. There are traditional payment methods such as credit and debit card processors through an online merchant account, and there are other options available as well.

If you’re looking for the fastest and most modern option to offer your customers, you should consider accelerating your credit card and debit card transaction system with mobile and one-click payment options. Since credit cards are the most popular payment method used online, making your store’s transaction process faster and easier can only help you attract more customers and satisfy the ones you have, especially during quarantine.

Using mobile payments

By finding an online merchant account provider that enables you to accept mobile payments, you can make the payment process with your clients much more efficient. Using debit cards through a third party processor is cheaper because of discounted transaction fees. Offering both options ensures that you don’t turn any customers away.

A checkout process that’s fast and easy will not only free up your site’s activity but it will attract customers as well. You may lose more in lost business than you gained in reduced fees by limiting your systems only to a small number of payment options.

How to choose a payment processing method

There are some things to avoid when choosing a third party processor to run your site’s online merchant account and process your customers’ payments to you.

The first is high fees. There are startup and application fees associated fees associated with some third-party processors, so try to avoid that. Look for online merchant account solutions that offer low price assurance to make sure that you are always getting the lowest price.

In addition, you need to ensure that the online merchant service you use works with your company’s website hosting service. You don’t want your software client and your third-party processor conflicting since this can reduce your website’s performance and make it more difficult for your customers to conduct their purchases.

The Takeaway

As a business with an online component, you need to consider mobile payments as a necessary point of interest when selecting an online merchant account. If you’re looking for a third-party processor to manage your clients’ transactions effectively, you need to find one that will guarantee the lowest possible fees, as well as one whose software is compatible with your website.

For more information on accepting online payments for businesses, or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.