If as a business owner you do not like waiting for a physical check payment that has to be deposited in the bank and then wait for another two to three working days for it to get cleared, then being able to receive online payments is a great option for you. It gives you the ability to accept credit cards through a payment gateway or through a third-party add-on without any hassle.
Essentially, it means that your customers can now pay directly with a credit card and the money is deposited in your bank account faster. This is important for any business to increase their cash flow.
An online payment gateways works in the following manner:
Step 1: A customers buys something online and pays via credit card.
Step2: His information is submitted to the processing bank.
Step 3: The bank either accepts or declines the transaction.
Step 4: The response from the bank is sent to the server and this message is then displayed to the customer.
Typically, payment gateways charge a monthly fee that is 2-4% of the sale. These fees are nothing in comparison to the premium services that are offered:
1) Abetter customer support that is available 24/7
2) An easy client interface
3) PCI compliance
4) Multiple currency acceptance
5) Fraud screening tools
6) Major types of credit card acceptance like VISA, MasterCard, or American Express.
An online merchant account can handle all payments that are made to you through a credit or debit card. Any e-commerce business that wants to be successful should always apply for an online merchant account. Amporldwide provides a secure online payment gateway that serves as a link between an online store server and a bank. For further details, you may log on to the website Ampworldwide.com
