A Guide to Online Credit Card Processing for Small Business Accounts
As a small business, you still have to think big, especially if your ultimate goal is to grow. If you are not accepting credit cards, you are hindering your progress. While cash is great, most customers choose to purchase items with a debit or credit card. For online shopping there aren’t many other options, which means that you need to be familiar with online credit card processing for small business accounts.
Provide a Great Customer Service Experience
One of the reasons that people choose a business, and continue to support that business, is a great customer service experience. Remember that a customer could go anywhere to receive what your business is offering, but they choose to come to you. If you don’t accept credit cards, you are limiting your customers’ options and making it less convenient for them to shop with you. If they have to work harder to receive your product or service, they will eventually go elsewhere.
Getting a Merchant Account for Your Small Business
Keep your customers, and keep your profits, by utilizing online credit card processing for small business accounts. Offer your customers an easy way to pay that is efficient and quick, not only for them, but also for you. The most common way to set up your business to accept credit cards is by using a merchant account. By having a merchant account, you have access to what you need to actually process credit and debit card payments.
Often times the payment processor you choose will have their own merchant account and you will enter into an agreement with them. The processor communicates with the credit card companies and their issuing banks, and the payment gateway reflects whether the payments have been accepted or declined. Eventually the money moves from the customer to your business account. The right merchant account helps handle all of these steps for your business.
The QuickPay Solution for Small Businesses
QuickPay by Allied Wallet offers online credit card processing for small business accounts and is a very popular option among our merchants.
Once the customer has decided what they want to purchase and they are ready to check out, they will be redirected to a secure page to complete their order. If they have a balance in their e-wallet, they can pay with that, if not, they can pay with whatever credit or debit card they choose.
After the payment has been entered and accepted, your customers are directed back to your website. The whole process is quick, easy, and very convenient! Plus, you can customize your pages for a seamless transition between your website and the Allied Wallet payment page.
Cost Analysis: Processing Fees < Not Accepting Credit Cards
Regardless of the merchant account you choose, you will have to pay fees to accept credit cards. You might think that avoiding online credit card processing for small business accounts will save you money, but in the long run, refusing to accept credit card payments will actually cost you. According to Javelin Strategy and Research, in the next couple of years, payment by credit cards will rise 33%. As of 2015, credit cards and debit cards are already the favored form of payment in America, and they are only going to be used more in the future.
Allied Wallet offers customized plans so you can decide what works best for your business. We offer payment processing features that are affordable for businesses of all sizes. You can accept money from 164 currencies with no conversion costs, and both you and your customers will have access to support 24/7.
In today’s technology driven world, you need online credit card processing for small business accounts if you really want to see your business succeed. Allied Wallet is here to help with services that work for you and your customers.