In the world of internet, there is hardly any commodity that is not being sold or purchased. It is a picture perfect scenario which is known as online business or e-commerce. From brick and mortar shop of locality to a startup business, everybody dreams of climbing the ladder of success. A businessman can realize most of his business dreams by expanding his business online. Do you know what the guarantee of a successful business is? It is the ability of a business to process credit cards. This article will examine all the important aspects of credit card processing.
It includes two prime important things- set up of gateway account and set up of a merchant account.
Setting up a gateway account
It opens doors to digital commerce. Look for the below listed essential features to pick up the best out of many options you may have.
- As it is important that the gateway meets the requirements for PCI DSS i.e. Payment Card Industry Data Security Standard, it should be PCI DSS compliant.
- It should be having SSL the secure socket layer to make sure that the transactions are protected.
- A reputed gateway service will offer full e-commerce integration such as shopping carts, email receipts, and recurring payment support. This will give you the liberty of choice between online and at a store.
- You should be provided with e-report to track the sales and transactions.
- Customer support makes another salient feature of best gateway services. They should be providing you support through different possible mediums like phone, online chat etc. as it will help the resolution of the problem at a fast pace.
How to open a merchant account in the USA?
You should contact the best service providers by shopping around and finding the best fit. To find the most suitable option for you, check for the following characteristics.
- Consider the expected setup time from the providers. As in the business, world time is equal to money. Time saved is money saved. For setting up a merchant account, you want to start it as soon as you can, it should be all digital with less of paperwork and hassles.
- Consider the monthly and transaction fees. Don’t make a mistake of going ahead with the services that charge you ambiguously, you should be very clear even before signing deal about the transaction fees. The percentage differences are small but when they are calculated to a big number of transactions, this difference becomes huge to pay.
- You require a credit card swipe machine necessary for POS transactions.
- You need both kinds of terminals including the virtual one to meet the demands of an online customer base.
- Get smart with the addition of shopping carts features for convenience of online shoppers.
- A secure service is the least to ask from the service provider. They should be using the latest technologies to ensure fraud protection
To find the best combination, take cost and reliability both into consideration. You may not want to pay even more at the end of the year or finding yourself breaching the contract in the middle of the term. Read between the lines before signing the agreement.