Online Merchant Accounts

online purchase

What happens when online businesses need to accept payments? They set up an Online Merchant Account. This allows the online business to accept credit card payments. Why is that important? Card payments are the most convenient of all available payment options. That goes for any kind of business, be it a store on the corner of 163rd Street and 12th Avenue or at a phenomenal website selling chess pieces.

The Digital Age: New Beginnings for Brick and Mortar

When walking down the street and entering a small mom and pop store that’s been there for decades, you start to see they are now online. They’re using social media platforms like Facebook and Twitter to connect with customers, as well as other programs to send email newsletters and advertisement-even offering discounts and deals for customers that subscribe. Shortly after seeing how great the response is with the addition of a digital interface, the mom and pop shop gets better business online and begins developing a larger web presence.

Due to the ease of use from smartphones, there is an increase in internet traffic. People that are not at home can simply talk to their phone, tell it what they want, and have the internet provide the answers. With a larger and larger population constantly logged onto the internet, the digital assimilation of physical locations is starting to gain momentum. Uploading photos of products, writing articles and blurbs about the products to sell is an easy forward-moving process. One of the major complications, however, comes when a business researches their online merchant account options. This is where they run into a roadblock.

online merchant accounts

What Online Merchant Accounts Offer

Online merchant accounts provide your website with securely encrypted gateway pages so that your customer’s private payment information remains private. These gateway pages are designed for ease of use for customers. The internet user only needs to press a few buttons and fill out a few boxes. The better the design and more secure feeling that you give the customer, the more likely they are to complete a transaction with you.

Many times, providers of online merchant accounts have software as well as hardware solutions to help businesses be able to process a physical payment. Businesses find themselves with random opportunities to go to trade shows or participate in a festival or some kind of remote event. Once the set up of a booth is complete and the foot traffic commences, the result is forecasted as a massive branding opportunity with expected sales revenue. It would be silly to not be able to take advantage of this opportunity. An online merchant account provider can assist with providing mobile payment options. This involves a smartphone being connected to a card swiper. The application on the phone and the hardware is very affordable for your business.

Some businesses rely exclusively on their online presence. Due to conditions such as location and overhead costs, some individuals choose to conduct business exclusively online. Some choose to work out of their home, small office, or even out of a garage. An internet connection can do everything from online banking, advertising, shipping and tracking.

In a rural environment, a wife and mother of two children may seek to supplement the household income. By traveling on the weekends to buy stuff at garage sales and flea markets at very cheap prices, she collects an inventory. Then she checks online and goes onto eBay. She opens an eBay store and begins selling antiques at her online shop. Once she makes all her money back and then some, she can see the potential and look to expand her business. After doing her research, she gets her own website and merchant account service provider. After a few short weeks, her e-commerce business is booming and she is supplementing her household income. She brought in $30,000 in the first year just by having a storefront with dedicated online merchant account options.

Security Metrics for Online Merchant Accounts

With Security Metrics for web merchant services, merchants can enjoy the peace of mind that comes with liability reduction. This security comes equipped with tools designed to prevent fraudulent purchases as well as data breach. Data breach coverage also helps to prevent expenses relating to PCI, HIPAA, GLBA and other data protection standards.
This includes covering the costs related to data compromise including, but not limited to:

  • Notification Costs
  • Forensic Investigations
  • Card Replacement Fees
  • Regulatory Fines
  • Post Event Consultations

Digital Conversion

It is becoming easier and easier for businesses to enter the digital world. More and more people are carrying the internet in their pocket. In this generation, the movement into the digital world is an essential step. It can start with something simple like a newsletter, email list, or a social media presence. Once you see what results come from having a digital presence, you won’t be able to deny the performance increase. Maybe you don’t want to give up a physical location, but eventually, you will see how a digital presence is beneficial to your business. Making an e-commerce website is the next logical step in the progression. You will need an online merchant account provider to help you accept those card payments. The physical store may have the sky as the limit, but digitally, there’s a whole different apex.