The option to buy and sell on the internet has only been available for a little over 20 years. The world is going cashless. Cashless transactions are quicker and they are more convenient. Cashless transactions are vitally important for eCommerce merchants running a business. How can you be sure you’re setting up the right eCommerce merchant account for your business?
Ecommerce presents exciting opportunities for business owners: to better meet the needs of existing customers, to tap into new markets and to grow the value of individual transactions over brick-and-mortar purchases.The growth of online purchases via mobile devices is obvious due to the increased popularity of mobile-commerce also known as m-commerce.
Why Your Choice of eCommerce Merchant Account Matters?
In business, especially E-commerce, the services you choose can make or break your company. From your webhost to your shipping methods, each service matters. A good business is like a machine and every gear and cog needs to work properly in order for it to run smoothly. That is why consideration is taken in every aspect to assure a harmonic co-existence in your business model. One of the major aspects of your business is your merchant service. When your customer’s payments, shipping fees, and your profits are handled by others, you want to be sure you made the right decision as to who has their hands in your cookie jar. That is why there are certain qualities you need to look for when deciding on your merchant account.
Here are few pointers:
Choose a real merchant service:
Customers nowadays need a secure and consistent shopping experience that’s easy and fast both for retail and physical goods. An eCommerce merchant account is the first step to providing it. To enjoy successful online sales, a responsive and secure payment platform integrated with your eCommerce websites is a must.For starters, there is a silent third party known as a Payment Gateway that acts as a go-between, communicating between your Merchant Account Provider and the payee’s bank. By choosing a real merchant provider and staying away from the banks, you will cut out the middle man and deal directly with your provider.
Finally, there’s the question of assistance. Some payment gateways don’t provide customer support; some provide 24-hour support with exceptionally rapid response times; some provide live technical support but only within standard working hours; and so on. So it’s better to find something which suits your requirement. Either something which is perfect for your time zone or a 24/7 support.
When choosing your provider, the first thing you should always check for, no matter who you are doing business with is their track record. It’s important to do a thorough research like checking reviews, customer complaints and so on.
Payment gateways carry a range of costs. Are there setup or initial signup fees? Monthly usage charges? What is the per-transaction fee?Of course, how (or whether) each of these fees will ultimately affect you will have everything to do with your business: revenue consistency, transaction frequency, frequency of returns, and so on. This part will take some math; but it’ll be well worth it.
Staring a ecommerce business is never easy, but it’s far less challenging today than it was just a few years ago. It all depends on whether you opt for a payment service provider or sign up for a full-service merchant account, choosing the right provider is a critically important step in getting your business off the ground this major step will help you with a smooth business flow.
With iPayTotal Fast and easy setup, flexible options
Setting up an ecommerce merchant account is fast, easy and flexible. Call us now to avail these benefits:
- Streamlined application-to-processing
- Competitive processing rates
- More secure, protected transactions
- Available directly through us, or one of our trusted acquirer