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| Credit Card Processing on the Internet |
| By: Jay B Stockman |
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So you have finally finished your e-commerce web site, hired the best web publisher, added all the bells and whistles, outstanding graphics, and great merchandise. Now, how does your prospective customer pay you for your products? Clearly, it is necessary for your site to accept, and process credit card payments, in real time. Failure to do so, would result in a failing enterprise.
Before you can begin the application process, there are several standards that all credit card processors have set. Follow this checklist and you will save yourself a significant amount of time, and aggravation.
1) The checkout, and transaction pages must be secure. This protects the customer from credit card, or identity fraud, which has become epidemic. You achieve this "security" by installing a secure socket layer certificate, or SSL. SSL encrypts information being entered on your site as it is sent across the Internet, so hackers are unable to steal the transmitted information. This Certificate has become very common, and any web host would be able to assist you.
2) A robust Shopping Cart software that utilizes the highest degree of security, and is compatible with the credit card processor. This program must be able to receive, and process orders. Collect personal data, and securely transmit the credit card data from software to the credit card processor. Most importantly, the software should provide the building blocks for a complete, successful customer experience.
3) Your server must have a firewall, especially if you plan on storing the credit card information on your server. Basically, a firewall is a combination of software, and hardware, that inspects incoming data, and filters unwanted, or potentially destructive packets of information. This firewall will not allow hackers to enter your server, and steal sensitive information.
When all these conditions have been met, you are ready to contact your bank to open a credit card merchantÂ’s account. Once your account is opened, your bank will suggest a credit card Gateway. A credit card Gateway receives the customerÂ’s credit card information from your web site, approves or declines the charge, and ultimately transmits money to your bank.
Although the process appears to be very complicated, it is quite straightforward when you know what you are doing. Plan ahead, avoid frustration, and provide your customers with an easy, secure experience that will make them come back for more.
Copyright @2005, Jay B Stockman
About The Author
Jay B Stockman is a contributing editor of Internet Credit Card Processing Resource
For more details on Internet merchant accounts and Credit Card processors go to: http://myinternet-credit-card-processing.com/
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| Don't Play Debit Card Roulette |
| By: Rick David |
In a highly competitive economy, there is no sense in gambling with your payment processing options; businesses need every advantage to win in today’s global marketplace. Accepting payments through customer debit cards increases the odds that the customer who favors this particular payment option will be happy and continually return.
There are two forms of debit card transactions and every merchant should have both.
1. PIN Based Debit
2. Signature Based Debit
PIN based debit is also called “online debit” because the transaction is conveyed electronically at the point of sale. The customer confirms the sale by keying in their personal identification number (PIN), and the funds are immediately captured through a nationwide EFT network from the customer’s bank account. The funds are deposited into the merchant’s account in 2-3 business days for a nominal per item fee.
The service is much more cost effective than credit card transactions, and PIN based debit card use is becoming an extremely popular option because of its safety and security. People who use this option don’t have to carry around a lot of cash, and they get to see the details of their transactions in their bank statements. The default on your point-of-sale device should be set to PIN based.
However, if a customer prefers, there is signature-based debit also called “offline debit” and this is another well-liked payment option. The customer uses their Mastercard or Visa Check Card just like a credit card. The card is swiped and the point of sale device gives a draft for the customer to sign. The funds are transferred to the merchant’s bank account. Discount rates apply with this option, as well as a small transaction fee. Chargebacks are also possible. Many young people are using these cards because it gives them the convenience and clout of a credit card. They can also be used to purchase over the Internet. If a merchant can accept credit cards, they can usually accept signature-based debit cards.
Riding the Wave
Even the Federal government is singing the praises of debit card use for consumers. Please see the consumer guide: “Are You Riding the Debit Card Wave?”
Debit cards are seen as safer than cash and more convenient than checks. So make room next to your cash register for a debit terminal, PIN pad and printer, and reduce the risk that a customer may not have the right payment option when the impulse to buy is upon them.
There’s virtually no risk in accepting PIN based-debit card payments, so make sure it’s an option at your cash register. It’s a sure thing!
About the Author
Rick David writes for a Merchant Newsletter @
Merchant America. He
also writes a humor column called,
"Don't Laugh It Could Happen To You" for
http://sandiego.merchantamerica.com. |
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| Keywords: credit card transactions, card, debit cards, credit, credit card they, credit card processing, debit card, cards, accept credit cards, credit card |
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