subject: Criteria Of A Reliable Merchant Credit Card Processing Service [print this page] Choosing the right Merchant Credit Card Processing Service can increase potential profit for a company. However, some companies may fear that these solutions could be very costly.
However, online payment systems do not necessarily have to be expensive to be fast, reliable, and secure. In fact, some shopping cart processors are even free. Its just a matter of knowing what to look for when seeking out the right web-based software for collecting money from customers.
Several criteria are used to rate online processing systems today:
Startup cost-Some merchant credit card processing services require no set-up feel. The only cost usually is minimal-averaging about $8 to $10 a month for basic shopping cart services. The number of transactions or products may be limited, though.
Set-up Time-Most vendors have very little time to set up a Merchant Credit Card Processing Service. Therefore, they usually seek one that requires the least amount of set-up time. Recommended options are the ones that provide step-by-step installation instructions and available customer service.
Security-Web-based forms used to collect user data are usually sent through merchant credit card processing services using a special coding that hides all their personal information. Today, the minimum required security encryption is 256-bit SSL or other scrambling technology.
Performance-For online payment transactions, usually fast and secure push-button technology is used. This is the best way to ensure efficient customer checkout, increased client satisfaction, and reliable order processing. It is beneficial to all vendors to seek solutions that have been thoroughly tested and properly integrated with record of successful live usage.
Options- maximum profit potential, vendors are advised to provide consumers with several payment method options. Most of todays best online payment transaction systems usually allow for at least three major credit card types and other electronic payment choices. Convenience is the key when offering products and services to customers.
Speed-Nothing can seem more annoying to a customer than a slow checkout process. Therefore, it is highly advised that vendors set up a merchant credit card processing service that requires as least of sign-up steps as possible. Whenever possible, try not to require registration so the entire transaction is completed sooner. Also, make sure that the checkout software resides on a reliable server for greater chance of successful order and payment processing.
