Is Your Company Processing Its Credit Card Payments Quickly and Affordably?


Ecommerce merchant account

When you make the decision to start a new business you have many choices to make. The new owner of a small gift boutique, for example, decides on the inventory that the new business should carry. What should the price point be for that merchandise? How much showroom or floor space will you need? Will you hire any employees or will you limit your shop hours to the ones that you can work? Will you offer your inventory online as well as in the store?
In addition to making decisions about inventory, space, employees, and online marketing, new business owners also have to make decisions about chargeback credit cards, gateway services, secure payment processing systems, card not present transaction processes.
Payment Gateway Services Need to Process Transactions Immediately
It is sometimes difficult for customers to “pull the trigger” and make their purchase. In fact, a 2014 study by MineWhat indicated that the average consumer will visit three stores online before making a purchase. In spite of the fact that nearly half of all consumers already know where to look for a product before buying it, consumers still tend to shop around seeing if they can get a better deal.
They are often looking for free shipping, bulk purchasing offers, and other discounts. when they decide to make a purchase, however, when they finally decide to “pull the trigger,” these customers demand fast, secure payment systems. In fact, a botched or slow payment processing sequence can cost a company customers. Because while customers may take their time making the purchasing decisions, they are not willing to take extra time for payment. If a vendor, especially an online vendor, makes them wait, they will often make their purchase some where else.
Understanding the payment gateway services industry requires that merchants understand the following important terms:

  • Card not present transactions. These kinds of transactions happen all of the time. Card not present refers to any time the consumer is not physically able to be present with the card they are using for payments. All online transactions are like this. This phrase also refers to orders made over the phone. Many consumers fear this kind of transaction because they see it as an opportunity for credit card theft or fraud. A well designed payment processing system can, however, make customers feel more confident.
  • Credit card chargeback process. These are additional fees a merchant can be charged if the consumer successfully disputes a payment they made. If, for example, a customer can show that they were incorrectly charged for an item, the cardholding company will credit the consumer’s account. They may also assess a fee to the merchant. While some of these fees can be as small as $1, they can also be as large as $100.
  • MOTO card transactions. This abbreviation refers to mail order, telephone order transactions. They are a type of card not present transaction. Some consumers feel safer with these types of payment processing systems because they feel like they are not entering their information into the internet. Other consumers feel that these are more risky because their is a paper trail in the case of a mail order purchase, and a chance for a human fraudulent situation when purchases are made over the phone.

Payment Processing Systems Should Instill Confidence in Your Customers
While many consumers think nothing of ordering items online, over the phone, or through the mail, other consumers are more leery. The best payment gateway services, however, can alleviate customer concerns. A flawless payment gateway services platform quickly and efficiently handles transactions. Whether it is in the store, online, or over the phone, the best payment platforms leave customers feeling secure.
When you first decided to open your new business you may have thought it would be all about the products and the services that you would be offering. Any new business owner quickly finds out, however, that they must understand more than the products they sell and the services they offer. They must also understand the entire payment processing platform that they use. Working with the best payment site allows merchants across the country to manage consumer changes modifications and facilitate smooth service and product delivery transitions.


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