Customers today are used to being able to use their credit card whenever they need to make a payment, whether it is for goods or services. Now, making payments using cash or checks are becoming less common as consumers demand the flexibility to utilize their favorite payment methods, both in physical stores and when shopping over the Internet. For merchants, therefore, having reliable credit card processing solutions in place is essential to their success.
Brick-and-mortar stores have long had physical terminals installed on their premises that allow customers to use their credit cards. But, when it comes to paying for items online, making secure payments can be more difficult. Online merchants are often faced with the difficult decision of whether to accept credit card payments. Failing to do so, however, could sound the death knell for the ultimate success of their business.
What Is a Virtual Terminal?
A Virtual Terminal for credit card processing represents the ideal online alternative to a POS machine or physical terminal. As a web-hosted software application, it is accessible from all Internet-enabled web browsers. It permits online card processing by allowing the customer to enter his or her credit card details into the web-based form, thus activating the electronic transaction. When buying goods and services online, a virtual terminal offers customers one of the fastest and most convenient ways to make a payment and helps to improve consumer experiences and increase customer retention.
What Are the Advantages of Credit Card Processing Solutions for Merchants?
While the benefits of online credit card processing solutions for customers is clear, the benefits for merchants may not be as obvious. However, there are numerous advantages to investing in this innovative option.
Perhaps the greatest advantage for merchants in adopting online credit card processing facilities is the potential increase in sales they will see. Customers are likely to have greater confidence when purchasing from an online merchant that offers card processing and are more likely to spend larger amounts than when paying with a check or cash. Because checking out is also very speedy, accepting online credit card payments ensures you will receive your money more quickly.
Receiving payment in cash or check format can leave your business vulnerable to theft and fraud. Conversely, when accepting credit card payments, you can benefit from PCI-certified software that guarantees peace of mind.
Better Customer Relations
When customers can use their favorite payment methods to buy from your store, they will enjoy a more positive user experience and are much more likely to return. This helps to boost your brand and improve your reputation within your industry.
Choosing the Right Card Processing Services Provider
Although offering your customers the option to pay using their credit card can boost your business exponentially, it can be fraught with problems if you choose the wrong provider. Choosing a reliable and reputable operator is essential, and a well-respected and trustworthy company, such as BillingTree, the best choice for guaranteeing your company is being supplied by the best possible credit card processing solutions.