Online Payment Systems
Taking orders on the Web involves more than just creating a form or installing shopping cart software on your site. You also need to consider several crucial questions as you decide on an online payment system.
Internet Merchant Accounts
An Internet merchant account is one of the absolute essentials in accepting payment for online transactions. An Internet merchant account is separate from a regular merchant credit card account. The standard fee rate is 1.5%, while an Internet merchant account is 2.5%. The increased rate reflects the risk a bank takes on Internet merchant accounts.
Transaction Processing / Clearing Services
Before you can begin accepting online transactions; you must select an online service that will connect your Web site with your Internet merchant account. This service will enable real-time credit card authorization for your online transactions.
E-Commerce Software and Web Site Integration
Lochgardie can provide all the set up requirements to get your Internet Merchant Account, Payment Gateway and shopping cart working seamlessly and on-line.
Risks of Online Payment Processing
Internet fraud can be almost eliminated if the payment gateway can perform checks on the credit cards to authenticate the user.
Control Over the Payment Process and Information
Some merchants favour a hands-on approach to their online payment solution, while others want all the work done for them, with occasional reports to keep them informed or access to an online summary of transaction information. Both systems have costs associated with them.
Other Payment Options
When selecting an online payment solution for your site, don't limit yourself to just credit card processing solutions. There are other options to consider. Like Direct Deposit (EFT) or Microcommerce systems, such as MilliCent, Technocash, PayPal, CyberCash to name a few.
The Bottom Line: How Much Will It Cost?
When choosing a bank for an Internet merchant account or a commerce engine for clearing services, make sure to ask for the complete cost of the service. Some companies will quote a list of fees but will not mention other costs involved. Lochgardie Media will show all that is involved.
On-line Store Demonstration
This demonstration displays Lochgardie Media's excellence in creating E-Commerce systems.
This particular system has evolved at client's requests to become a fully featured On-line store. You can enter the shop front HERE.
On-line stores are only as good as their backroom functionality allow. The administration area for this demonstration store can be accessed HERE.
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