Online Credit Card Processing has now become widely
available and quite affordable. It falls under the purview of back end
operations. Credit Card Processing is gaining importance owing to the need
of faster electronic payments. To have a competitive edge over others, it is
important to maintain online credit card processing.
The wide accessibility of credit card processing is due to a strong system
to combat fraudulent transactions and faster automated transactions.
According to recent statistics, online credit card processing can increase
your online business revenues anywhere from 50% to 400%. Credit card
processing is now being outsourced widely to reap the benefits of cost
cutting.
Types of Credit Card Processing
Virtual Terminal: It helps to manually
process telephone related transaction as well as other mails. Acting just
like a physical terminal, it however, provides greater flexibility of
accessing from any Internet connection.
Simple Integration Method: The method of
credit card processing helps to link the particular website to a system
which further helps to accept credit card payments from clients/ customers
on Internet.
Advanced Integration Method: This method
links complex websites with the transaction server and requires customized
programming.
Outsourced Credit Card Processing offers quite a
few benefits to Companies / Individuals.
- Protection against fraudulent transactions
- Reduction in payment processing costs.
- Faster and efficient management of electronic payments
- Elimination of human errors.
- Simplifies process right form the moment, the card is swiped till the
reconciliation statements
- Reduction in payment processing time
- Reduction in operational overheads
- Streamlined Operations
- Increased Productivity
- Improved accuracy of Payments
- Setting up of recurring billing cycles
- Secure, cost-effective, and reliable way to collect payment and
process transactions offering greater flexibility
