Take a second and imagine your shopping on a website, find the product you've been looking for, and as you go to the order form to purchase it, you find out that the company doesn't accept payment online. Instead, you must mail a check.
If you were like me, you would probably click off the site and search for another company that offers the same products and does accept payment online, whether it is by credit card or online check. Direct payment solutions that help you achieve complex goals, reduce costs and streamline the transaction process.
It doesn't take a super, intelligent person to realize that it is inconvenient, time-consuming, and ads on lag time till you get your purchase when you must sit down, write out a check, and mail it. That is why it is extremely important that you offer some type of online payment solution for your e-business.
Accepting credit cards is probably a very well-known way to accept payment online. Accepting credit cards is becoming a prerequisite to the success of e-businesses. As a way to accept credit cards, then you are likely to require a merchant account. To acquire you, simply perform an internet search for your favorite internet search engine optimization. You may be supplied with a listing of numerous merchant account providers to pick from.
Image Source: Google
For each transaction the bank processes, you'll likely be charged a discount rate, or percent, of their entire face value of the total charged, together with a per transaction fee (usually including $0.20 to $0.30) percent Once you are doing your trade, and receive the authorization number, the billed is instantly wire-transferred out of one's clients' credit card account into your merchant accounts.
The merchant bank will subsequently dismiss or subtract, the percentage rate and per transaction fee, and also wire transfer the remainder of this fee into the business bank account of your preference. At the close of the month, then you'll be given a statement, for the own records, so you are able to balance your accounts.
In summary, I would highly recommend obtaining a merchant account for your business. As the Internet continues to grow, more businesses come online and more people decide to make purchases on the Web, it will become essential that your business accept payment online (especially credit cards) in order to survive in today's business world.