The online shopping industry is booming. Every year, online sales continue to rise at exponential speeds. It’s no doubt that it’s here for the long haul. Customers love the ease at which they can browse products, select items, and use online credit card processing to complete a purchase – all within just a matter of minutes. What’s even better: they can do it all from the comfort of their own homes.
Have you started offering online credit card processing, enabling sales of your products and services on the web? If not, you could be missing out on sales every minute you put it off.
What is Online Credit Card Processing?
Online credit card processing is exactly what it sounds like: credit card processing that’s done online. Using a shopping card and payment gateway on your website, you can allow customers to select a product, input their information, enter credit card details and, just a few clicks later, their transaction is completed and processed. They’ll receive their purchase via email or snail mail, depending on their chosen delivery method.
How Online Credit Card Processing Works
Online credit card processing utilizes a two-part system that consists of a shopping cart and a payment gateway. The shopping cart is what the customer uses to select products, view transaction totals, and input their payment information. This is where they will enter their credit card details when it’s time to purchase.
The payment gateway is owned by the online card processor you choose and is the tool that actually manages the processing of your customers’ purchases. It facilitates the transfer of the customer’s card information from your shopping cart to the card’s bank or financial institution, ensuring it’s done safely, securely, and quickly.
Here’s how online credit card processing works, at its simplest:
Types of Online Credit Card Processing Services
When it comes to online credit card processing, there are a variety of options. You’re not just limited to accepting credit and debit cards; a number of other online payment methods can be utilized in tandem with your card processing services, offering your customers even more convenient payment options.
Some different types of payments you may also be able to accept online include:
Security of Online Credit Card Processing
Businesses and customers alike often have concerns regarding the safety of online credit card processing. Fortunately, most processing providers do too. Online card processing companies often employ a number of fraud prevention and identity theft security measures designed to help keep customers’ personal and financial information safe from harm.
Some common security measures are:
Online credit card processing providers also often limit the number of times a user can enter a wrong password or other customer information. If they hit this limit, it could indicate they are using someone else’s identity, and they are not permitted to proceed with their transaction.
Online Credit Card Processing Can Improve Your Bottom Line
In more ways than one, online credit card processing can improve your bottom line. It can make your customers more apt to buy, it can open up a new sales channel for your business, and it can enable you to make sales anytime, anywhere – even when your brick-and-mortar doors are closed.
Here are just a few of the ways online payment processing can lead to more profits:
Choosing the Right Online Credit Card Processing Services
Not sure how to choose the right online credit card processing services for your company? There are a few factors you should consider.
First, know what you’re looking for. Do you want to only process credit and debit cards, or do you want to include PayPal, bill me later, and other services? Do you need a shopping cart and help with integration? If so, look only for providers who offer those services. By knowing what you’re look for from the get-go, you can you narrow your field of choices quickly and easily.
Next, look to online credit card processing reviews on the web. Find out what customers and merchants have said about each company you’re considering. Did they get good customer service? Were rates consistent? Did they help with development and integration?
Finally, call Total Apps. We can help you create the perfect online credit card processing solution for your business: one that meets your growing needs, your long-term goals and, of course, your budget.
Need more information about online credit card processing? Check out these links: