How to accept credit card payments online

Finding the best ways to take credit cards online and selecting the proper payment processor might be difficult at first. It is the lifeblood of your e-commerce operation and a vital expense to consider when selling online - after all, if you can't effectively accept payments online, you don't have a business. If you're looking for the best payment processors solutions in the US, consider checking out this comprehensive guide that highlights the top providers in the industry, offering secure and reliable services.

Before we get into your payment choices and how to get started, Did you know that The Watchtower will provide all your digital marketing, web design, website development, Mobile app creation, and SEO solutions? Well, now that you know this let us help you be at your service.

Also, did you know that:

1. More than 1/3 of customers are hesitant to purchase online due to security worries.
2. The average firm loses 5 percent of its revenues to fraud every year.
3. 50% of small companies are victims of fraud at some time throughout their business's existence.
4. Each time fraud is resolved, it costs an average of $114,000.

Before we begin, you should be aware that payment processors are classified into three types: merchant account + payment gateway, all-in-one solutions, and simplified credit card processors.

 Here's a short rundown of each.

 1. Payment Gateway + Merchant Account

The conventional approach of receiving payments online has been to use a merchant account in conjunction with a payment gateway. This category includes companies such as SecureNet (USA), Authorize.Net (USA), and eWay (Australia and the United Kingdom). A merchant account is a type of commercial bank account that allows you to accept credit card payments. 

An online payment gateway connects your business and your merchant service account, as well as facilitating payment transaction processing between the different parties involved, such as your bank and the card issuer's bank. Consider it the digital equivalent of a used in physical stores.

There are fees connected with both the merchant account and the payment gateway, but there are several alternatives available, some of which have lower transaction fees or do not charge startup fees.

 2. All-in-One Services

These services, such as PayPal Commerce Platform, integrate an account and a gateway into a single solution, making setup faster and easier. They accept all major credit and debit cards and typically offer a more manageable pricing structure. Furthermore, most do not charge monthly or startup costs for basic accounts, however, some services may charge a monthly price for specific additional features. 

PayPal and other similar services make setup faster and easier. They also accept all major credit cards, other payment options (such as PayPal and PayPal Credit), and often offer cheap transaction fees.

One possible disadvantage in the past was that they did not always provide a smooth checkout experience. Your consumers may have been sent off your site to pay for an order, depending on how your solution was configured. This is no longer the case. With PayPal powered by Braintree and With One-Touch technology, you, the business owner, have complete control over your customers' checkout experience.

 3. Credit Card Payment Processing

Simplified Solutions such as PayPal Commerce Platform have removed much of the complication from accepting payments online. You won't have to set up a merchant service account or a payment gateway, which means fewer expenses (and suppliers) to deal with. Rates are competitive with all-in-one systems, and the majority of these new processors do not impose setup or monthly fees. The procedure is simple: the customer's credit card is input, and the payment is processed - that's all there is to it.

One thing to keep in mind before going with a simple CPU is that you won't get the same amount of support as you would with a regular processor. They are often quite simple to operate, so you may not require them. However, if you have an issue with your credit card processing business, most assistance is self-service through articles or email – many of these companies don't even have a contact center.

Finally, To accept credit card payments online, you must first register up for an online payment service such as Stripe or PayPal. These services operate by processing your clients' online payments for you and collecting a charge for each credit card transaction your company accepts.

I hope you found this post interesting and also you were able to find solutions to your online troubles but if you still have any issues online then don’t forget to contact The Watchtower, an award-winning web development company willing and ready to provide solutions