If you are planning to sell products and services online, make sure you accept payments from credit cards. There are several advantages of accepting credit card payments:
1. It can help you increase sales by broadening the base of your business. You will be providing an easier payment option to customers who don’t want to use net banking or debit card for buying stuff. It will also help you accept payments from anyone and anywhere in the world who wants to buy from your website.
2. By accepting credit card payment online, you can increase the chance of impulse buys from customers who may not have cash in their account at the time of buying products from your website. It can save you time because the payments are quickly authorized. The payment will reach your bank account within a couple of days of the purchase date which means the cash flow of your business won’t get affected.
3. There are chances that you competitors are offering credit card payment online so if you wish to stay in the competition, make sure you follow the same. Many customers prefer using credit card when shopping online. If your site is not giving them this payment option, they might end up choosing your competitor site for purchase. So, why take the risk?
From credit card processing account and payment gateway to payment processor, it is necessary to understand all aspects of credit card payment before offering this service to your customers. Payment gateways are important in case of online shopping and payment. Transaction requests are received by the payment gateway, connected to Visa or MasterCard and then to the card issuing bank or credit card company to see if there are sufficient funds in the card for shopping.
1. It can help you increase sales by broadening the base of your business. You will be providing an easier payment option to customers who don’t want to use net banking or debit card for buying stuff. It will also help you accept payments from anyone and anywhere in the world who wants to buy from your website.
2. By accepting credit card payment online, you can increase the chance of impulse buys from customers who may not have cash in their account at the time of buying products from your website. It can save you time because the payments are quickly authorized. The payment will reach your bank account within a couple of days of the purchase date which means the cash flow of your business won’t get affected.
3. There are chances that you competitors are offering credit card payment online so if you wish to stay in the competition, make sure you follow the same. Many customers prefer using credit card when shopping online. If your site is not giving them this payment option, they might end up choosing your competitor site for purchase. So, why take the risk?
From credit card processing account and payment gateway to payment processor, it is necessary to understand all aspects of credit card payment before offering this service to your customers. Payment gateways are important in case of online shopping and payment. Transaction requests are received by the payment gateway, connected to Visa or MasterCard and then to the card issuing bank or credit card company to see if there are sufficient funds in the card for shopping.
Thank you for sharing such great information. It would be very informative, if can you help me in finding out more detail on Credit Card, i am interested and would like to know more about this field and wanted to understand the basics of Banking Services.
ReplyDeleteGood article that you shared in a good way. Thanks for sharing a nice article. keep maintain the useful information
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