As a small business owner emerging into the world of e-commerce, it is vital that you understand the online payment process and know what to watch out for. As an e-commerce merchant, customer service is no longer only an “in person” concern, it must also be handled online in order to keep your clientele happy. If you are looking to set up an merchant account for online selling, this is the guide for you.
When launching your credit card processing services online, there are a number of things you should keep a careful eye on while continuing to run your business:
Payment Processing Fees and Costs
Accepting credit cards online is not free and every merchant services provider offers different rates and fees. These rates and fees pay VISA, MasterCard, Discover and American Express as well as the processor helping you perform the transactions. To ensure you are getting the best deal for your money, it is important to compare multiple processor’s rates before signing up with one.
If you need help in setting up your merchant account or have any questions regarding pricing feel free to contact us here at Switch Commerce and we will be happy to answer your questions.
Your Customer’s Experience
As mentioned before, customer experience is also a concern with online service. Customers will be very vocal if they are satisfied or dissatisfied with their online experience while buying your products. Therefor, your website should have a clean, easy-to-use design that earns your customer’s trust as well as being optimized for conversions.
Using a third-party external website for shopping transactions can be a deterrent to potential buyers and usually makes the payment process more lengthy. Make sure your merchant services provider can supply you with a shopping cart to be placed directly into your website.
To help drive customers to your website, add exclusive online incentives to customers and link them to social media outlets for further marketing.
Liabilities are one of the largest concerns when dealing with your online payment processing. Handling credit cards online means handling very sensitive information. Customers expect you to go the extra mile in keeping their information safe and secure. Legally, you are also required to handle sensitive information such as credit card numbers requirements of the Payment Card Industry Data Security Standards or PCI DSS Council.
Failing to properly encrypt transactions, not securely storing data, and selling sensitive information to third parties can all result in legal action that can be seriously damaging to your business. Make sure your website is safe, secure and meets all PCI standards with a merchant account through Switch Commerce.
Accessing Your Funds
Finally, the biggest concern is accessing your funds. Some payment processors are simply not fast enough in processing payments. If you are a small business that depends on having your money accessible at a moment’s notice, we have a solution for you. Switch Commerce has 24 -36 hour funding to ensure your money is in your account when you need it.
Overall, e-commerce selling can be highly beneficial to your business. Online payments opens up a whole new venue in which to receive more profits and draw in more customers. Open as merchant account with Switch Commerce to gain access to 24 hour customer service, secure shopping carts and fast funding.