Accept Online Payments: What Benefits Can You Expect?

One of the biggest advantages received when you begin to accept online payments is immediate compensation. Processing completes as the order is being entered, meaning you do not have to wait for many days or even weeks to receive the funds. Without this option in place, an order may be input online but cannot be completed during the process. You must create an invoice which is then sent either prior to shipping or after the service is completed. This setup typically leads to unpaid invoices or other complications due to the recipient being required to send or call in their transaction. Immediate payment prevents the customer from receiving the service or goods until the transaction has gone through. The ability to accept online payments has also opened up new opportunities such as recurring bill pay to companies.

If you are operating in an ecommerce environment, you also receive the benefit of a widespread customer base unrestricted by your geographical location. A well marketed website can obtain far more visitors than the local downtown shop. This increased exposure makes it easy to gain additional profits by integrating a credit payment option. When a website only offers information about the products or services being sold, customers may use it for research but tend to purchase from a site with similar products due to the additional convenience of being able to pay online. You in turn lose out on potential customers and a vast amount of sales when consumers are not able to buy directly from your website.

Consumers love the convenience supplied by ecommerce websites and expect this option to be present when a business is selling something. It is now the status quo to go to a site, add products to a shopping cart, and enter card data to complete a purchase. Many customers view a business that only takes phone or mailed payments as potentially untrustworthy. When you take payments online, a greater sense of confidence is stirred within the customer thus encouraging each individual sale. This decision greatly boosts your company image and allows you to gain a vast amount of new customers. AVPS can provide a benefit packed solution designed to offer increased convenience to your customers. Visit our website to see what you receive when choosing our ecommerce services.

With an internet merchant account solution, you receive all the necessary components to make this customer convenience option a cinch. AVPS internet transaction solutions supply a virtual terminal to process cards from any location. Provided HTML tags allow you to set up a direct payment option on your website and the gateway is supplied to complete the approval process. You have twenty-four hour support available in addition to the merchant account for credit acceptance. Taking consumer card payments can increase sales and ease your transaction handling workload. This important business change does not have to be hard when a processing solution is provided from a dependable service provider.

Accept Online Payments: Security and Business Enhancing Features

All you need is some basic HTML knowledge when setting your website up to accept online payments. We supply the appropriate tags which your developer can then use to insert into the appropriate pages and button functions. Websites with an existing product catalog may require a shopping cart to be incorporated into the mix. Many gateways are already designed to integrate with pre-designed carts making it important to ask upfront about the particular one you will be using. Fraud protection in the form of address and user verification are included with these services to ensure only valid cards are approved. A secure sockets layer (SSL) protocol is also included to supply reliable data encryption when internet communication takes place regarding a transaction. Lockout preventive features supply additional protection from illegal behavior and pre-verification makes certain only legitimate cards are run during ecommerce sales.

You receive many additional business enhancing features when using an internet merchant solution to accept online payments. All business reports are integrated into the virtual terminal for easy access and transaction oriented emails may be fully customized. Business logos may be added to the ordering form with an automatic page redirect once the transaction has completed. Authorizations are completed in real time without the need of purchasing additional hardware or extensive machine setups. These solutions may be fully integrated with any ecommerce website as well as most legacy systems. Online reporting tools, a reports management system, data importation, data transaction storage, printable receipts, return capabilities, and many other features can be expected with merchant services for online business. Call us today to learn more about what our transaction solutions have to offer your business.

Online payment processing is another set of services you will have to consider as your site is being prepared. An internet merchant account and gateway are vital components to online credit card transactions. Most providers offer a complete solution consisting of both components as well as additionally needed features. This solution is integrated with your shopping cart to create an easy flowing checkout process. It may also be in the form of an indirect setup where customers pay on the processing provider’s site. Once these components have been delineated, you can deal with web hosting space as well as complete the overall design of your website.

Accept Online Payments: Choose an All-In-One Processing Solution

The ability to accept online payments provides convenience to both your business and consumers. Many variations exist for how this service is arranged to work on your website; however, an internet merchant account and gateway are needed regardless of the arrangement. The gateway facilitates the communication needed to transfer received funds into the merchant account. Payments are deposited into your bank from the merchant account after the provider has subtracted all fees. The account portion may be acquired from your local bank or an ISO (Independent Sales Organization). An ISO can be viewed as a mediator used to accomplish data transmittal through the appropriate financial channels. ISOs can set the service up much faster, offer competitive fees, and do not expect as much as a bank does when applying.

The account selected to accept online payments may have the following items:

• the gateway
• fraud protection
• business reports
• customizable customer receipts
• multiple integration capabilities
• real time authorization

Whether the selected provider offers a supplied gateway or not, it is a necessary security component for transmitting transaction data which may have to be paid for separately. You should always check to see if it is included in the offered services before making a final provider decision. Hosted ecommerce solutions are the easiest to incorporate with your website because they support many gateways. If you are looking for easy setup, fast, and reliable online payment processing, a third party service is the most reasonable choice in regards to cost and simplicity. AVPS internet merchant account solutions are not difficult to include as part of your website. We can provide your customers the buying power necessary to expand company earning possibilities.

Accepting Online Payments: What Items Are Required To Get Started?

Accepting online payments does not have to be difficult if you know where to start from at the very beginning of this decision. The first thing you must do is have the technology aspects of your website in place. What exactly does this mean in regards to the site you currently have up and running? Encryption and a proper programming interface are necessary to accomplish a secure transaction between customers. If you have someone maintaining your website, they should already know what is needed to cover these two aspects of credit processing over the web. You must apply for an internet merchant account through a bank or independent provider. Bank application processes require more documentation and are stricter on approvals. New companies without the paperwork to back up profit stability are better off applying with an independent provider.

The provider of your account may be able to offer an internet gateway service as well. If they can, you will have an easier time setting up the website for accepting online payments. Sometimes this processing component has to be contracted through a separate company. Research what comes with the merchant account to learn any additional items which may have to be obtained separately. Gateways are the means for transmitting data between the service provider, financial institution, and the creditor. They are necessary to ensure the data sent is protected from fraudulent activity in addition to communicating the authorization and verification response. Gateways can be part of the merchant services account making it important to know what you are getting before completing an agreement.

Fees will vary per account and can include items such as monthly charges, individual payment rates, discount rates, and statement expenses. Ask to see a list of fees to ensure they match the amount of business you expect to receive each day as well as estimated individual purchase totals. Create the checkout forms, buttons, and other items needed to direct the customer through the payment process. HTML code from the merchant service will have to be input into your site code. This code is typically provided after all service options are properly set up. Accepting credit card payments does not have to be overly complicated with the right account. Contact an AVPS professional today to see how we can help make this website transition easier for your business.

Accepting Online Payments: What Service Options Are Available?

When you accept credit reimbursement in a store, you are required to apply for a merchant account and can either choose swiping equipment or a virtual terminal. An account is necessary to move funds to your personal business account and must be present to perform all processing functions. Terminals read input data, encrypt it, and then send it to the bank or the third party company handling your merchant account. Physical terminals come with various features including a keypad, magnetic reader, memory, and built in software. Virtual applications can be implemented in environments where the cardholder may not be present for the transaction. Mail order or phone processing are examples of where this particular technology can be applied. Accepting online payments involves a different form of terminal often referred to as a gateway. It operates much like a virtual design, but completes authorization and the response process at the time of sale. Gateways are integrated with your website shopping cart as well as transaction forms to create a smooth payment process for customers.

You can also elect to have a third party provider handle the entire entry process when accepting online payments. In this situation, they supply everything needed to complete the transaction but send the customer to their secondary site for entry. All data encryption, form creation, and technical aspects are covered by the provider. Your business must provide specific items to uniquely brand the transaction form. Customers are sent back to your site once they have been provided a confirmation. This setup may be used for recurring payments, product purchases, and various other online transactions. If you prefer to provide customers this option directly on the company site, you will need to include proper data encryption for each page as well as ensure the implemented shopping cart will work with the supplied gateway. AVPS offers multiple online payments processing solutions to organizations of all sizes. We can supply the services needed to enhance the success of your business.

• Reduced administrative cost due to automated processing
• Reduced cost of supplies due non-paper billing
• Easier storage and retrieval of information
• Expedited transfer of funds from customer to merchant
• Opportunity to improve customer service

Of these benefits, the opportunity to improve customer service gives EBPP its greatest business appeal. Prior to EBPP, customers had difficulty organizing payment information and disputing payments. In addition to searching through accordion style file folders, they spent abysmal hours on the telephone hashing out payment disputes. In one respect, these annoyances benefited merchants: customers were less likely to dispute a payment. But they ultimately constituted a drawback: instead of paying by mail, some consumers decided to pay by cash – a decision that limited merchants’ ability to reach a broad customer base.

EBPP Then and Now

The scenario above represents the discussion of EBPP as it existed almost a decade ago. Today, little is remarked about the benefits of receiving and paying bills online; they are well known. Yet, there are still merchants who don’t use online payment systems, and the reason why might be surprising: they consider themselves businesses that sell locally and have little need of selling online.

The decision to sell online is less novel than it used to be, but it is no less momentous in terms of revenue growth. According to a report by the U.S. Commerce Department, ecommerce sales exceeded $165 million in 2010 – an almost 15% increase from 2009. Behind this statistic are statistics that might surprise local merchants, particularly: according to a 2010 report by Leisure Trends Group, one-third of active Americans would rather shop online than in a store, even when stores that have what they want are located nearby. A similar statistic exists for shoppers in the UK.

For small businesses that sell to consumers, this means that not selling online not only eliminates the chance to sell to remote consumers; it also eliminates the chance to sell to local ones. Regardless of its size, a business that sells products that are easily shippable can benefit from selling online.

AVPS has the EBPP Accounts You Need

If your business doesn’t accept online payments, it may be missing out on significant revenue. AVPS can help it capture this revenue by providing the right online processing accounts. Accepting online payments is a reality of modern business, and AVPS can help you make it happen.

For over 25 years, AVPS has provided small and large businesses with the merchant accounts they need to succeed. To learn how we can help your business, call us today.

Business Kiosks
A simple yet effective business concept, kiosks reduce every barrier between the customer and the seller, even walking distance. Kiosks that can take card payments attract customers who elect not to carry cash – a common preference of people in foot shopping districts.

Public Event Booths
Merchants who sell at public events can make an incredible amount of revenue in a short period of time. Because carrying cash at public events can be dangerous, many people carry credit and debit cards instead.

Tradeshow Booths
Many companies use tradeshows to capture contact information, but savvy companies never miss a sales opportunity, and always have mobile card processing equipment on hand. The less introduction a product or service requires, the easier it is to sell from a tradeshow booth.

Conference Rooms
After explaining to attendees why they should use a product, retain a service, or participate in a program, conference leaders can deliver a call to action and direct them to payment terminals located at the back of the room.

Choosing the Right Processor

Three types of processors facilitate mobile card processing:

• wireless terminals, which are similar to retail terminals in design and operation;
• cell phone terminals, which consist of a cell phone with a built in or attached card swipe;
• cell phones, which can be used to process payments via touchtone processing.

Selecting the right equipment begins with examining account fees in terms of sales volume. Although using a cell phone offers the advantage of no equipment purchase, the fees for touchtone processing do not benefit businesses that have a high transaction volume, or a low volume of high-ticket transactions.

Another consideration is transaction speed. For businesses that experience a steady stream of customers, the time it takes to process touchtone payments can be prohibitive. Wireless terminals offer the fastest processing, and are usually the best choice for kiosks, public event booths, and conference rooms.

A third consideration is how customers perceive processing equipment. While most customers will be familiar with traditional wireless processors, some may be unfamiliar with cell phone processors or touchtone processing. If customers cannot be given one-on-one attention, cell phone processors or touchtone processing may not be the best choice.

Call AVPS for Your Mobile Processing Needs

AVPS supplies mobile processing, retail processing, mail / telephone processing, and Internet processing accounts to a variety of merchants, large and small. With over 25 years of experience in Small Business Merchant Accounts, we have the experience and expertise that growing businesses need in a merchant service provider (MSP). If you are interested in accepting online payments, in-store payments, mobile payments, or you need new processing equipment, call us today.

Consult the Better Business Bureau (BBB)

In addition to checking a service’s letter rating, read the notes in its file. Because serious account problems occasionally happen, merchants should be wary of services that don’t resolve customer complaints quickly, even if they have a high letter rating. A service’s BBB record alone shouldn’t determine your choice, but it should always be considered.

Verify the Validity of an Acquiring Bank

Services that offer credit accounts must have an “acquiring bank” that performs credit processing. Acceptance by an acquiring bank involves rigorous standards that some merchant services are unable to meet. Consequently, services that offer credit accounts are required to list their acquiring bank’s address in their promotional materials and on their website’s homepage. After verifying an acquiring bank’s address, contact it to see if it partners with the service in question.

Watch Out for Strange Account Fees

Most card processing companies charge the following account fees: discount rate, transaction fee, monthly gateway fee, monthly statement fee, early termination fee, and monthly minimum fee. Some services also charge an annual fee that goes toward overhead. Fees to watch out for are ones that kick in after a certain period of time and ones that make advertised account rates extremely conditional.

Watch Out for Low Account Fees

Low account fees may seem like the mark of a good merchant service, but they are often just the opposite. Because the services account fees are rendered by other entities, most merchant services have little leeway in lowering them. Therefore, stay away from services whose fees are significantly lower than their competitors: they typically offer poor service.

Avoid Services that Make Financial Promises

As crucial as they are for revenue growth, merchant accounts don’t make money on their own. Therefore, a service that promises a financial return should be avoided. A merchant’s revenue depends on what, how, and to whom it sells, and how well its account options (including the credit card terminal it uses) accord with these things. While most merchants experience revenue growth after they open an account, precisely how much is impossible for a merchant service to predict.

AVPS has the Credibility You Need

Opening a merchant account is an important decision, and what merchant service you choose is just as important. For over 25 years, AVPS has had a reputation for transparency and meeting the needs of small businesses. At AVPS, our history, customer retention rate, and range of account services demonstrate our dedication to customer service. For a merchant service that will meet your needs, and then some, call us today.

What are the benefits of small business credit card processing?

Small business credit card processing helps small businesses by structuring fee rates to keep account fees at an acceptable level in relation to a merchant’s account revenue. Often, small businesses find credit processing unprofitable due to rate structures that result in poor profit to account fee ratios. If you are avoiding card processing services for this reason, AVPS can help.

What account fees are charged for credit processing?

Most merchant services charge the following fees for credit processing:

• setup fee
• discount rate
• transaction fee
• monthly gateway fee
• monthly statement fee
• chargeback fee
• early termination fee
• monthly minimum fee

Other legitimate fees can include:

• annual fee
• address verification fee
• programming fee
• voice authorization fee
• surcharge fee

With the right rate structuring in place, these fees comprise a small percentage of each transaction.

How is the cost of account fees determined?

Account fees are largely determined by the cost of the services that they result from. For example, many merchant services offer gateways through a gateway provider, and a discount rate is a collection of charges that is paid to an acquiring bank for its services. Because all merchant services pay roughly the same amount for these services, their account fees are usually very similar.

What is the best strategy for avoiding bogus fees?

The best strategy for avoiding bogus fees is to read the account contract very carefully before you sign it. The most common bogus fees are ones that kick in after a certain period of time, and ones that make advertised rates extremely conditional. Bogus fees have various names. Some common ones are: file fee, security fee, conversion fee, and over-limit fee.

What is the process for evaluating a merchant service?

Many merchants consult merchant service reviews before selecting a service, which is a good idea. But you should also check a service’s record at the Better Business Bureau (BBB), verify that the acquiring bank listed on its website is legitimate, inspect the fees it charges, and consider whether it has the range of account options you need.

AVPS Has Answers You Need

If you are avoiding card processing for fear of account fees, AVPS understands your position. For over 25 years, we have provided Small Business Merchant Accounts that offer the rate structuring small businesses need to succeed. In addition to providing accounts that make credit acceptance profitable, we can also provide the right card processing terminal. To learn more about our account options for small businesses, call us today.

Retail Processor
Retail processors, which contain a card swipe, a keypad, and are wired in place, have been around the longest. But their value to merchants that sell in-store is still strong. Merchants who sell in-store and have a high transaction volume can benefit from retail processors significantly.

IP Processor
IP processors feature the same hardware as retail processors, but they transmit payment information using Ethernet instead of a modem. This results in higher transaction speed, but brings the concern of Ethernet reliability. Merchants who sell in-store, have a high transaction volume, and have reliable Ethernet are ideal candidates for IP processors.

Contactless Processor
Contactless processors feature a sensor that reads contactless credit cards from a distance of 3-4 inches. Increasing transaction speed by eliminating card swiping, they are ideal for merchants who sell in-store and have a high transaction volume. Research shows that contactless credit card holders use their cards more often than traditional credit card holders.

Wireless Processor
Wireless processors, which contain a card swipe and a keypad, but are not wired in place, are designed for merchants who sell out of store. Offering the best transaction speed among mobile processors, wireless card processors are ideal for mobile merchants who experience a high transaction volume.

Cell Phone Wireless Processor
Cell phone wireless processors are cell phones that feature built in swiping equipment, or have specially designed card swiping equipment attached. These processors often cost less than the ones above, but their method of operation makes them inefficient for merchants who have a high transaction volume.

Choosing the Right Processing Equipment

Choosing the right processing equipment involves several considerations, particularly:

• Whether a merchant sells in-store or out-of-store
• The merchant’s transaction volume and transaction patterns
• The rate structure of the account a processor is used for
• The payment preferences of the merchant’s customers
• Equipment design and unique features
• Cost of equipment

At AVPS, we examine these considerations and help merchants choose the best card processing terminal for their present and future needs.

For over 25 years, AVPS has serviced merchants and pioneered best practices for Small Business Merchant Accounts. Whether your transaction volume is low, moderate, or high, we will supply an account whose rate structure benefits your transaction volume the most. To learn more about how the right processing account and credit card terminal can revolutionize your revenue, call us today.