Payment Companies Choose Streamlined Checkouts To Reach Higher Conversion Rates

Apr 26, 2016

Checkout abandonment, especially with regard to smartphones, is still high. As a result, transaction volumes become suppressed, and new payment options are encouraged to allow for faster and smoother transactions for consumers ready to make purchases.

Improving Mobile and eCommerce Conversion Rates

Payment processors that need to better mobile and eCommerce conversion rates can choose to have an effective update to their platform. This update has to do with a hosted payment field that helps capture sensitive information at checkout, an advanced virtual terminal to allow consumers to use alternative payment options, and the ability to integrate with PayPal Holdings Inc. to make a subscription and one-time purchase.

PayPal’s unit called Braintree now accepts the digital currency Bitcoin. PayPal’s single-touch technology known as One Touch is developed to streamline mobile checkout. One Touch was designed by Braintree in 2014.

Merchants operating in the high-risk sector should take time to look for the best payment processor in the field to turn to. A highly experienced and reputable high risk credit card processor like knows your high-risk business best of all. EMB is voted the number one high-risk merchant account provider in the US and offers exceptional payment processing services to meet your specific business needs.

New Checkout Processes

High-risk merchants know their business may be affected by higher rates of chargebacks and disputes. Credit card processing fraud is not a problem for EMB offers the lowest possible rates in the industry.

EMB guarantees top security and reliability for payment transactions thanks to its unmatched merchant account services. All types of businesses, regardless of their credit history, can open a merchant account with EMB that boasts an A+ rating with the Better Business Bureau (BBB).

Researchers in the field note the latest checkout processes feature a growing share of transactions on mobile devices. Research firm e-Marketer based in New York predicts that, in 2017, for the first time, more than half of all digital buyers (51.2%) will make at least 1 purchase using their phone.

According to eMarketer, a digital buyer is a person performing transactions on Web browsers or in-app. The numbers have grown from 40.8% in 2014 and 45.6% in 2015.

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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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