There are three different types of telephone merchant accounts: The first is where you collect your customer’s credit card information and process the payments via a Virtual Terminal. A Virtual Terminal is a web based payment solution that allows for companies to process payments on a secured website in real time. Using a Virtual Terminal is the easies way to process payments. The second is an automated phone system that your customers call and input their payment details and are assisted by an automated computer voice during the entire process. So basically the customer dials a toll free number and connects to an interactive voice response (IVR) system and key in their information using a touch tone phone or a cell phone. This method is a bit more expensive to process payments, usually reserved by mid-size to larger businesses but is now affordable to smaller companies. The third way to process payments is to use your Merchant ID. When you get approved for a merchant account, you are given a merchant ID and a toll free number for you to call to process payments. This method is usually use by retail merchants who need to process payments if their credit card machine is not functioning.
Accepting payment for your mail order business or if you manually collection the information over the phone does not have to be expensive or difficult because these payment methods should help your business run better. Because we work with several banks and financial institutions, we offer small businesses and entrepreneurs the lowest rates possible for a mail order or phone based merchant accounts. Once you get approved, we assist you by providing a walkthrough of the system before you start to run live transactions. By using our telephone ordering services, all of your transaction data is secure using the highest industry security standards to protect and encrypt data.
If you are currently running a business that is doing well, you want to continue the growth so don’t be held back by not using the best and latest technology available because staying ahead of the competition in a competitive marketing can mean more profit. For the most part, if you are using a virtual terminal, there is no equipment to buy or software to install on your computer and this will keep your overhaul low.
If you operation a mail order business, you already know how important it is to have the best merchant services so you can process payments without the customer being present. This technology is affordable and simple and allows for businesses to approve, capture and settled transactions with ease.
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