Finding a reliable, secure, and flexible payment processing solution for your business is critical, so it’s important to take the time to investigate and assess the options available to you. A payment processing solution should:
1. Reliably and cost-effectively accept and process a variety of payment types, including credit cards and electronic checks. Not only does this reduce lost sales, but it also enhances the quality of your site by allowing your customers the freedom and flexibility to pay you quickly and conveniently.
2. Provide real-time credit card authorization results allowing you to accept or reject orders immediately and reduce the risk of fraudulent transactions.
3. Easily track and manage payments from multiple payment types or processors so you can spend more time on your business, not on managing transactions.
4. Be able to act as a virtual terminal to allow for processing offline transactions. This gives you the flexibility to process orders received via telephone, fax, email, or in person.
5. Provide and store transaction records letting you easily search for transactions and create transaction reports.
Scale rapidly and seamlessly to accommodate increased transaction volumes so your systems grow as your business grows.
6. Provide flexible, easy integration with the Merchant’s Web site. The sooner you can start accepting payments, the sooner you start generating revenue from your site.
7. Provide standard processing level anti-fraud features such as CSC and AVS.
8. Offer the option to seamlessly upgrade to card-sponsored Buyer Authentication programs such as MasterCard SecureCode and Verified by Visa to provide merchant protection against credit card fraud liability.
9. Offer comprehensive online fraud protection feature options that protect your online business from fraud. These options should be integrated seamlessly into the payment processing solution. Most importantly, these options should be cost-effective and simple to understand, so that you don’t waste valuable time and money while protecting your online business against fraud.
10. Provide recurring billing payment services. This allows you to set up recurring charges for your customers. For example, you can set up automatically recurring charges for items such as membership dues or installment payments. Recurring billing is an important feature that provides added convenience for both you and your customer.
11. Be able to work with all the leading Internet Merchant Accounts, which allows you to switch your banking relationship and not have to worry about installing new software or performing new integrations.
12. Be provided by a well-established and trustworthy company. This ensures that your payment service
provider will continue to provide reliable payment services as well as new features.
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