If you want to run a successful eCommerce site you simply need to be able to accept online credit card payments. By giving your clients the freedom to purchase online, your site gains credibility and you also increase the probability of turning shoppers into paying customers. But what exactly does accepting credit card payments online mean for you? This simple guide will give you the details about what you should expect when considering online payment options.
What Is It?
Processing online credit card payments is similar to making a purchase in a store. The main difference is that the physical card isn’t present during the transaction. This type of transaction, where the actual card isn’t swiped, requires a payment gateway and payment processor to facilitate the transfer of financial information and finalize the sale.
Why Should I Use It?
Using a payment processor lets you accept online credit card payments. Using other options like PayPal or Google Wallet allows you to accept online payments too, but these options carry many drawbacks. If you’re serious about your eCommerce site you should use a dedicated online payment processor.
Good for Your Customers
With a payment processor, your customers are able to use their existing credit cards to make purchases on your site. Services like PayPal require user accounts, and not all your customers will have, or want to have, a PayPal account. Customers are more likely to complete the sale when given the freedom to use their credit cards instead of signing up for a separate account.
Good for Your Business
You’ll receive payment faster using a payment processor. You also receive better customer support. Most importantly, a payment processor will help you grow your business by offering tools and analytics so you can better understand your customers habits and needs. A dedicated payment processor also offers much better security measures, protecting both you and your customers sensitive information. In order to truly grow your business, you need to be able to accept online credit card payments directly from your site.
What Are the Costs?
Naturally, the services a payment processor provides aren’t free. However, the investment required by payment processors more than pays for itself in the services it allows you to offer. Based on which type of account you choose from you will probably pay processing fees, gateway fees, and transaction fees. These fees will vary based on how many transactions you make, the average sale amount, and many other factors.
Who Should I Use?
Because there are so many options to accept online credit card payments you need to consider how many transactions you will process, what the service costs, what customer support you’ll receive, and what kind of security the account provides. Choosing a payment processor is so much more than just accepting payments. A great provider will offer analytic tools, customer support, and top notch security at affordable rates.
Choose Allied Wallet
Allied Wallet is a service industry leader because it lets you accept online credit card payments while also providing high quality support and security. Contact us today to discuss your online payment processing needs.