People shop online for convenience. Buying products and services online and having them delivered straight to your home. With all the competition in online business, an online business owner needs to offer more payment options to attract more clients and increase the bottom line. One of the most effective ways is by accepting credit card payments.
Why accepting credit cards increases your sales
According to SBA.gov, accepting credit cards offer customers convenience, as well as ease of transaction payment processing. However, you need to watch out for the risks of credit card frauds – especially if you accept payment from your online store – as well as any fees related to credit card processing. Those being said, having your online store to accept credit cards online has proven to be beneficial to your bottom line, as well as avoiding your competitors to “steal” your customers. How so?
Well, according to Forbes Magazine, if your online business don’t accept credit cards, you are losing 70 percent of sales to your competitors who accept credit cards. This is, along with the fact that half of Americans are not carrying much money with them anymore, opens up even greater opportunities for online businesses accepting credit cards.
How to accept credit card via your website
To get started, you need to sign up for an Internet merchant account from a provider such as North American Bancard. Such accounts allow you to accept credit cards on your website and process the payment through a secure system. Your information need to be encrypted by a payment processor from customer to the merchant account’s bank. So it is crucial to partner with a merchant account provider that can offer you both convenience and security.
You need to be sure that you sign up with reputable merchant account provider. Do not risk your business by partnering with those with no track records but offer low processing fee and many other perks; reputation is more important than just lower processing costs and expenses.
Good luck in your online business endeavours!