Any work at home entrepreneur who plans to make money online must figure out how they will accept payments from customers. Keep in mind that the way in which credit cards are processed with an online store differs from the way in which they are processed with a brick and mortar store. In a brick and mortar store, the customer walks into the store, takes the items which they wish to purchase off of the shelf, places them on the counter, and hands you their credit card. All you have to do is ring the items up, and swipe the credit card. Of course, none of this is possible with an online business. Thus, you must set up a payment gateway to accept credit cards on your website.
A payment gateway is the electronic mechanism which connects the “Buy Now” button on your website to your merchant account. This mechanism enables your business to accept credit cards and ACH payments (checks) in an instant.
One of the most assuring features of the payment gateway is its security. We all know that the world is full of identity theft. This is rampant in people’s minds. Hence, a reputable payment gateway will encrypt your customers’ credit card numbers and other sensitive information on its way to your merchant account. After the transaction is either accepted or declined, it will send an authorization number back to the payment gateway. This whole process takes less than three seconds. Thereafter, your merchant account will transmit your approved transactions to the issuing bank, and payment is deposited in your business account generally within 2-3 business days.
Okay, I can see that a payment gateway is for me. How do I get one? The good news is that payment gateways are offered by a lot of companies, so you will have no trouble finding one. Additionally, certain payment gateways offer additional customizable security filters so that merchants can protect themselves from fraudulent transactions resulting in charge backs. Anyone who utilizes an online business to sell products and work at home should strongly consider a payment gateway with this feature.
Additionally, many payment gateways allow you to take orders over the phone, and type in the customer’s credit card information manually. You simply log into your merchant account, and enter the order manually over the Internet. This is helpful since the last thing that you want to do if a customer calls and is ready to order is steer them back to your website. Rather, you want to close the sale on the spot.
As we have been discussing, there are several companies who offer gateways subscriptions to business owners. Shop around and compare prices, then select the best option for your work at home business.
When you Work At Home, it is most likely that you will need to offer a credit card payment solution to your customers. Give yourself the best opportunity to Make Money Online by setting up a payment gateway. Make sure that you check us out at SOSComplete.com.