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Simplifying the Payment Procedure for your internet business customer: For ambitious internet entrepreneurs, serious about running an internet business the facility to accept credit cards is vital. Internet businesses unable to receive online credit card payments are inclined to lose more than 60% of business due to this single factor. When scrutinized closely you will see that the online customers behavior is impulsive and he wont tolerate long procedures or waiting. They are reluctant to move away from the net to make phone calls or complete order forms which they must post to place their orders.
They are seeking speed and comfort in placing an order. If you look at the larger e-commerce web sites you will see that more than 80% of orders are received using online credit card payments. Conversely, other methods of placing an order should still be considered to avoid loss of the remaining 20% of trade. Acceptance of Credit cards in your internet business will intensify the trustworthiness of the business in the psyche of the customer; he will no longer deem it is a low profile business. Apart from the noteworthy income boost that credit cards can provide for your internet business, there are many conveniences you can enjoy as it simplifies much of your effort. Some benefits are: 1. All transactions and deposits occur by electronic means so you need not visit the bank repeatedly. 2. Everything is undertaken electronically and you dont have to kick about making sales records, you have all reports available at the click of a button. 3. Credit cards are reliable as being paid cash; you do not face the hitch of checks bouncing. 4. It is easy to trace orders when providing customer service. 5. You need less staff to accomplish the complete procedure as you dont need anyone for order processing. 6. You can receive orders 24 hours a day, seven days a week.
You should now be swayed of how important acceptance of credit cards is for your internet business. To do this, the basic requirement is to possess a merchant account. The ideal way to obtain a merchant account is through a broker, he can assist you with every aspect such as software required and technical help. Above all there is less chance of your application being turned down. Automation is the key: If we take a wider look at order placements, we encounter three widespread customs in which people place orders, each one of these should be fully automated to deliver maximum convenience to the purchaser. This will not only assist the purchaser but will simplify your administration procedures and diminish the number of working hours required. Time saved by automation can be utilized for additional purpose such as promotion of your business. However there are supplementary methods for placing orders, but whilst maintaining that, online credit card processing is your best solution, however we will still pay heed to other ways in which a business obtains orders. • Online credit card processing. • Toll free numbers with live operators to offer services. • Post and fax. Let us take a look at each one of these in detail: Online credit card processing: Orders established online are accepted and processed via secure server instantaneous, devoid of the customers waiting for too long. A secure server can accept and send out information that is confidential for example the credit card number with no risk of anyone stealing the information throughout the transmission. This is carried out with the assistance of encryption technology; nearly all browsers support this technology. Software is set up on the website that will charge the credit card company in support of the order and this amount is deposited straight into a merchant account held with a bank. In the lead of a successful transaction the business owner receives the order and may then have it shipped. Certain internet business stores prefer to use the facilities of a Fulfillment Company which takes care of packaging and shipping, reducing the business owner time and effort. 800 series number: For extending the competence of a 24 hour phone order support system, you do not have to put together your own customer service department and obtain the necessary infrastructure. You may yet again use a fulfillment company which will entertain and process your orders, and then send the information to you for the shipment or perform the shipment themselves, depending on your contract. When you hire a fulfillment company to effect the order processing over the phone you can expect them to charge you between $4.00 and $7.00 per order. Post or Fax: even though this technique is losing attractiveness; you should still not ignore this method. There still are a few customers who are not comfortable with the idea of using their credit card over the web or disclosing it over the phone and would thus choose to complete mail orders and send them through. Also people may still feel like making check payments. This aspect can too be taken care of by the fulfillment company. The basic idea in providing you with all this information is to indicate the need for simplifying order processing and payment procedures for your buyer, to establish your business. What is imperative is the capacity of the business to accept credit cards. To prop up this you must include an internet business system, as most of your orders will arrive with online payments. However you certainly do not fancy losing out on any sales so the proviso for other methods of order taking should at all time be on hand.
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