Online Credit Card Processing

While the options for online credit card processing providers seem endless, there are some features that will narrow down the pool of potential providers. Here are explanations of key features to look for in an online credit card processing provider.

Secure Server (SSL)

Merchants are required to provide a secure connection with encryption and protection technology for all online credit card processing transactions. An acronym for Secure Socket Layer, SSL is the gold standard for encryption. Without this lock, most consumers will not buy from a site. SSL not only protects the customer, it protects the business, too. SSL can prevent hackers from accessing private customer information. Most online credit card processing providers offer SSL encryption.

Recurring Billing, Void Transactions, Issue Refunds

There is more to online credit card processing than simply swiping a credit card and making a sale. Often, online credit processing providers feature other services that small businesses use on a daily or weekly basis. Recurring billing is ideal for customers who use the same card for recurring monthly or weekly services. This eliminates the need to actively bill customers each time. Many online credit card processing services can handle voided transactions, which are canceled or incorrectly filed. Also, a feature to look for is the ability to issue a refund. These features help ensure customer satisfaction and positive word-of-mouth, which is paramount to a small business success.

The Need for Speed

Many small businesses require work on site, such as repair businesses or small business selling handmade items at craft fairs and bazaars. A mobile smartphone app that will enable credit card processing through a smartphone can be a huge benefit to a small business that needs to take credit card payments in varying locations.

Contracts with Credit Card Processing Providers

Small businesses require quick transactions to provide the speedy customer service to which consumers are accustomed. Features such as quick approval and seconds to complete a transaction mean the difference between minutes waiting in line and satisfied customers. Of course, the entire credit card processing deal should begin with fast setup and easy installation. These are all features that will enhance customer service and produce satisfactory word-of-mouth.