7 Ways Accept Online Payments for Your eCommerce Business

Sep 01, 2020

Are you wondering what methods you should use to accept online payments? Which one should you go for: No need to worry. This article is here to help you with online payment options for your customers.

How to Accept Online Payments

The way people send and receive money is changing. eCommerce businesses that fail to react to these trends are going to lose out. So, if you’re running an eCommerce business, you can’t do without accepting payments online from your customers. Here’s how you can do this.

  • Click-to-Pay Email Invoicing

This way, you can send a payment invoice via email to your customers so they can complete their purchase right off the bat.

  • Credit/Debit Card Options

Credit/debit cards are among the most common payment options preferred by the majority of online shoppers. Only, you should shop around to find a true payment specialist like eMerchantBroker.com to enjoy the most advanced credit card processing solutions in the industry to accept online payments with ease.

EMB, a BBB-accredited company with an A+ rating, is considered the top high risk processor in the U.S. EMB offers the most reliable and cheapest merchant processing services to both low and high risk merchants.

  • Cryptocurrencies

Crypto money is getting more and more widespread in the modern payments world. Especially young people choose this option to complete transactions online.

  • eChecks

ACH processing allows customers to pay via paper checks in a virtual format.

  • E-Wallets

This is when customers and merchants sign up and open accounts for depositing and withdrawing funds from bank accounts.

  • Payment Gateway

In this case, customers pay via credit/debit/prepaid cards, or electronic checks. All buyers need is to submit the details of the card/check they’re using for making payments.

  • Recurring Billing System

This way, you can bill your customers automatically upon the due date at the time of applying for the service. Payments withdrawn from the attached account either go directly into the business bank account or other allied payment options.

So, eCommerce is a global phenomenon. To reach customers worldwide, you should offer multiple payment options to your customers so they can pay online easily. As a result, you can attract more customers and increase revenue.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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