Helpful Guidelines In Online Credit Card Payments

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Are you an entrepreneur searching for various means to make your business more effective and profitable

? Are you engaged in business using the Internet as an extension or even as the main form of doing business (online transactions)? If you dont use the Internet as a part of your business, you probably have lost a lot of money already (additional profit coming out of using the Internet) from the moment the business was put up until today. Wake up! It is the Information Age and the Internet is a very powerful tool, something you can use to do almost anything yes, including making money online.

Perhaps you will question how to accept purchases and payments online, whether you are in the planning stage as far as using the Internet for business or just a newbie in this particular type. It is actually easy just accept credit cards online. Yes, any customer can use their existing credit card to make a purchase online, saving time and effort on his part and yours, which is why it is important for you to establish this as best as possible, since it has the potential to draw more customers than usual.

There are several steps required in order to make accepting credit card payments online a working method for your website and along with that, expand your business in terms of sales and profit.

What you first need to do is to set up a credit card merchant account. What exactly is a merchant account? It simply allows you to accept credit card payments and the transactions are then transferred to your bank account.

How do you go about obtaining one? It really isnt too difficult. There are a lot of merchant account providers out there; you may choose to search for one using the Internet and a search engine (such as Google). This is called a 3rd party merchant. They will set up your merchant account for you in exchange for certain percentage fees and the like. Several well-known examples of 3rd party merchants are PayPal, DigiBuy, and ClickBank, which you may have previously encountered. This is usually the step that beginners in online marketing and business take, as it is relatively easier compared to opening your own merchant account, which is the other method. Opening your own personal merchant account requires you going to the bank of your choice, usually one in which you have a good relationship with. Take note that some banks would decline or would make it difficult for you to obtain this special account.

After acquiring a merchant account, the next step would be to get a hold of valuable information from your customers. This includes the name, contact numbers, identification codes, credit card numbers, and other relevant data. You may do this by creating a form prior to purchase in your website in which the customers are obligated to place in these necessary facts about themselves. This form, when submitted in your website, would then be downloaded into your computer, which you then would be able to verify at a later time.

The third step would be the actual verification and data processing. You have the choice of doing this the old-fashioned, manual way (recommended for smaller businesses) or using the wonders of technology to your advantage through a processing service (ideal for medium to large-scale businesses). For the manual method, you just retrieve the data stored in your computer from the online forms, then go offline and process it without necessarily using your computer or the Internet to do so. Take care of the necessities involved in the customer orders, such as delivery, shipping, etc. In using a processing service, it would help you in terms of verifying the credit card to see that it is not a fake one. Examples of these are CyberCash and InternetSecure.

Make your business grow by using the Internet as a tool to help you. You may choose to seek help in setting up your credit card payment system by using search engines to find such services. You may choose to do it on your own, which would save you some of your own money that would be spent for percentages for such services, but would take a bit more time and effort on your part. Whatever you choose, remember that it could potentially lead to the growth of your business.

by: Elijah Chai

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