Payment Systems
3rd PARTY CREDIT CARD ACCEPTANCE SYSTEM
Credit cards still remain the most popular way to participate in online transactions. Purchases can be made instantly saving valuable time in the delievery of goods. Credit fraud still remains a threat but with careful, common sense practises, safety can be maximised.
How it use to be done.
In the past, if you wanted to have the ability to accept credit card transactions online, you would have to set up a merchant bank account, fill in endless amounts of paperwork, and provide enormous credentials of your business intentions. On top of that, the fees were unbelievably high. Accepting online credit card transations was something only big players could afford but now, that has all changed.
How it is done now.
Now, 3rd party systems such as paypal, and nochex provide easy and seamless integration of credit card payment facilities are a fraction of the cost. The merchant account is completely bypassed. At the time of purchase, the user is directed to the 3rd party website where the credit card is validated and the transaction approved or declined. Upon a successful transaction, the user is redirected back to the website and the credit card transaction can be viewed online. The money can then be transferred from the “online” account to your nominated bank account.
The Asian credit card factor.
It is of no doubt that having a reliable, successful and convenient method of payment will increase the popularity of your website. But what if people don’t user credit cards. This is the case in China and Japan where is it predominantly a cash society. In Japan, although credit cards are in use, cash cards or just cold hard cash is often preferred. In China, credit cards are still seen as toys for the rich and cash is still the main way of daily business. Having said this, the credit card trend in Asia is growing very fast.
Contact us now to see how we can integrate a cheap, fast and effective solution to allow you to start accepting payments online now!
