E-commerce Payment Processing
All online stores need secure and reliable e-commerce payment processing. It’s important to have many merchant payment services to choose from. Create an online store that provides customers with a great shopping experience using the right payment processor.
E-commerce Payment Processing
Online payment processors act as intermediaries between an online store shopping cart and the financial institutions involved in carrying out the transaction. Your e-commerce business needs online payment processing to accept payment from the consumer.
Online payment processing involves four major steps. First it collects the buyer’s credit card information, then it has to go through verification. If the credit card is accepted, the total order amount is debited from the credit card and then credited to the business merchant account.
There are so many different payment processors to choose from. Not only do you have to find one that has all the features necessary to be suitable for your business, you must also take into consideration the following details. Transaction fees. Discount rates. Monthly service fees. Terms for payment. Fraud management.
Application fees. Setup fees. Whether or not there is a monthly minimum and what happens with chargebacks. Some of this information can only be found in the fine print, but it is necessary to look into before selecting a payment processor.
There are two types of online payment processors. The first type is directly integrated into the checkout process, the customer stays on your e-commerce site the entire time. The other type is known as a third party payment processor, customers will be directed away from your site in order to complete the order.
What you need is an e-commerce solution that works with all of the major payment processors, is able to accommodate direct integration as well as third party payment processing, has SSL credit card data protection and accepts other forms of payment such as money orders, checks, purchase orders or COD’s.
Core Commerce offers multiple online payment processing options that are both secure and reliable and lets you choose between direct integration or third party processors. With design tools to set up your store in minutes, a full list of growing features at your disposal and superior support, it’s no wonder they are rated one of the best e-commerce solutions. Try it absolutely free for 15 days without giving them your credit card information.
E-commerce Payment Processing Related Terms
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