Online payments have increasingly replaced in-person transactions as the payment method of choice for many goods and services. Even service-related transactions are often no longer conducted with paper money and checks.
The infrastructure necessary to process a variety of online payment methods is a crucial building block of any modern business’s success. Since customers will continue to use these methods even more frequently in the future, businesses should know how to use internet merchant services to offer diverse payment methods to ensure that they reach the maximum number of potential customers.
What are Internet Merchant Services?
Internet merchant services are obtained through a merchant account provider, and they are the most essential aspect of accepting diverse payment methods. They provide hardware and software that businesses need to conduct credit card and debit card transactions with their customers.
Credit Cards and Debit Cards
Credit cards and debit cards are the most popular forms of payment online and most customers’ preferred method of paying for goods and services. Businesses pay a transaction fee on card purchases but the verification of transactions conducted on these kinds of cards is immediate, which helps maintain efficiency.
Credit cards and debit cards are the most important payment methods a business’s website can offer on general purchases. Displaying the card logos on the site also help build credibility.
eCheck services are a great way for any kind of businesses to conduct transactions with customers who may not have the ability to pay by credit card, or who just may prefer not to do so. It is much easier to get an account to accept eChecks than to get one to accept credit cards and debit cards, so this is an excellent option for businesses who do not qualify for a credit card merchant account.
ACH or automated clearing house transfers move funds directly from one bank account to another. Since they are handled directly by the payment network, they are commonly used to make low-value domestic payments such as paying for online bills. Recurring subscriptions like video streaming services and gym memberships also often use ACH transfers.
When applicable, a business that pays employees or that receives recurring subscription payments from customers may wish to have the infrastructure in place to make and receive ACH transfers.
Offering diverse payment methods, from credit cards to eCheck services, is the key to succeeding and growing any business, especially online. Businesses can use the best options to save time and money, while customers get the options they crave to buy things as they please.
Visit Charge.com or call them at (888) 924-2743 to obtain internet merchant services and set up diverse payment methods on any business website.