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E-commerce Payment Processing Solutions for Your Online Store

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E-commerce Payment Processing Intro

For an e-commerce business, providing customers with secure and reliable e-commerce payment processing is of the utmost importance. There are many payment processors out there and it is crucial that you choose one that is right for your type of business. They are all supposed to do pretty much the same thing, however with a little research you should be able to find the best.

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What is E-commerce Payment Processing?
Research E-commerce Payment Processing
Direct Integration E-commerce Payment Processing
Third Party E-commerce Payment Processing
How to Choose E-commerce Payment Processing
Other E-commerce Payment Processing Features
E-commerce Payment Processing Solution
E-commerce Payment Processing Video
Merchant Payment Services
Related E-commerce Payment Processing Articles
Share Your Thoughts on E-commerce Payment Processing

What is E-commerce Payment Processing?

A payment processor acts as an intermediary between your online store shopping cart and the financial institutions that are involved to carry out the transaction. It collects the customer's credit card information for verification, and if accepted, debits the order amount from the credit card and credits your merchant account. It takes care of the entire payment aspect of the business while you handle the rest of the order process. In order to get the job done, you must have an efficient and reliable e-commerce payment processing system.

e-commerce payment processing

Research E-commerce Payment Processing

The key to finding the right payment processor for your online store is to compare prices and carefully read the fine print. There are a number of important e-commerce payment processing specifications you should look out for, they include:

Transaction fees

Discount rates

Monthly service fees

Terms for payment

Fraud Management

Application fees

Setup fees

Monthly minimum

Chargebacks

Without reading the fine print, you might not be totally aware of all the fees you could incur. On the surface, it might appear that one payment processor has a better deal than another, but that might not necessarily be the case. Another important factor to take into consideration is the e-commerce payment processing customer service. You need to choose one with a reliable customer service department to help you resolve issues such as stolen credit cards or customers who claim not to have received items.

Direct Integration E-commerce Payment Processing

When choosing an e-commerce solution that provides e-commerce payment processing, there are two main types that they should be able to offer their customers. The first type is known as direct integration payment processors. It seamlessly integrates the payment processing function into your checkout so that customers do not have to directly interact with the payment gateway. This way the customers remain on your e-commerce site while their financial information is safely and securely forwarded to the payment processor.

Third Party E-commerce Payment Processing

google checkout 2checkout amazon checkout paypal worldpay

The other type is known as third party online payment processing. The major difference here is that customers will actually have to leave your e-commerce site in order to complete the order. When the customer is ready to place the order, they will be taken to the third party payment processor site to enter their payment information. After payment is complete, they should be redirected back to your site.

payment processors

How to Choose E-commerce Payment Processing

Typically third party payment processors do not charge monthly fees. There are both advantages and disadvantages for choosing this over direct integration e-commerce payment processing, depending on what type of products you sell. If you have an expanding business with a large number of products, it is better to use direct integration. If you have very few products or are only selling e-goods, third party payment processors are the better choice for you.

Other E-commerce Payment Processing Features

merchant payment services

There are some other e-commerce payment processing features that you need to look for when choosing an e-commerce solution, they include:

Work with all of the major payment processors

SSL credit card data protection

In addition to credit cards, have the ability to accept checks, money orders, purchase orders or COD's

E-commerce Payment Processing Solution

If you are not able to provide reliable e-commerce payment processing, you will have a very difficult time retaining customers. It does not matter how great your products are or how low your price is, customers will not buy from you unless they know for certain that you can be trusted with their credit card information. You must use an e-commerce solution that works with the most reputable payment processors in the industry.

E-commerce Payment Processing Video

E-commerce Payment Processing: by elogichick1 | video info

1 rating | 508 views

Go to http://trycorecommerce.com for an e-commerce online store free trial. Using the right online payment processing for your e-commerce business is a must. Find out which type is better for your online store. For more information on how to use e-commerce payment processing, check out http://www.squidoo.com/e-commerce-payment-processing If you enjoyed this video, you might also like the other videos in our YouTube Channel: http://www.youtube.com/user/elogichick1 E-commerce Payment Processing Video Transcription: Online payment processors act as intermediaries between an online store shopping cart and the financial institutions involved in carrying out the transaction. Your e-commerce business needs online payment processing to accept payment from the consumer. Online payment processing involves four major steps. First it collects the buyer's credit card information, then it has to go through verification. If the credit card is accepted, the total order amount is debited from the credit card and then credited to the business merchant account. There are so many different payment processors to choose from. Not only do you have to find one that has all the features necessary to be suitable for your business, you must also take into consideration the following details. Transaction fees. Discount rates. Monthly service fees. Terms for payment. Fraud management. Application fees. Setup fees. Whether or not there is a monthly minimum and what happens with chargebacks. Some of this information can only be found in the fine print, but it is necessary to look into before selecting a payment processor. There are two types of online payment processors. The first type is directly integrated into the checkout process, the customer stays on your e-commerce site the entire time. The other type is known as a third party payment processor, customers will be directed away from your site in order to complete the order. What you need is an e-commerce solution that works with all of the major payment processors, is able to accommodate direct integration as well as third party payment processing, has SSL credit card data protection and accepts other forms of payment such as money orders, checks, purchase orders or COD's. Core Commerce offers multiple conline payment processing options that are both secure and reliable and lets you choose between direct integration or third party processors. With design tools to set up your store in minutes, a full list of growing features at your disposal and superior support, it's no wonder they are rated one of the best e-commerce solutions. Try it absolutely free for 15 days without giving them your credit card information.

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gevans411 May 31, 2011 @ 9:52 pm | delete

Noticed you quickly mentioned the issue of chargebacks - for any small business owner looking to start and online account, chargebacks are unfortunately something they will become all too familiar with - luckily there are ways you can reduce chargebacks by taking some easy steps like creating full and in-depth product descriptions and including them with the receipt the consumer sees before and after their purchase.