How and when you get paid for your products and services is one of the most important thing to consider as a business owner. Therefore, understanding the difference between getting your payments processed over the internet vs. a brick and mortar store is important.
You can choose to have an in-store terminal or POS system where you can do card present transaction, or you could have an online payments account to accept card-not-present transaction from your website, via emailed invoices, over the phone or by mail.
Nowadays, many businesses choose to have both card present and card-not-present payment acceptance, so they don’t miss out any potential business. Having both is an effective way to ensure costumers can pay however they want.
Card present or in-store payments will have lower processing fees than those payments accepted online or over the phone (card-not-present). The reason for this is that the risk for fraud increases in online and other card not present transactions.
There is less risk associated with a business swiping a credit card than keying it in. Why? When a card is swiped, a person is present; where the merchant can check ID and signature. When a person is not present, it’s open for consumer fraud.
Choose your Payment Service Provider carefully. There are payment providers that are experts in each type of industry as well as providers that can process payments in all of them.
It is important to take fees into consideration, but don’t let the benefits outweigh the risks. Choose a provider that offers free reporting tool and delivers outstanding service where you can speak to someone when you call.
For Electronic Payment Set Up Call Now 888-996-2273
or go to NationalTransaction.Com