Often eCommerce merchants spend just a few minutes on online payment processing. They usually focus on the website’s design, without trying to create a web page that is easy to use.
When choosing an online payments processing service, payment relationship can be built either with a payment gateway (directly) or via an ISO or Independent Sales Organization (indirectly). Do your best to prepare your business strategy carefully:
- Secure a PCI Qualified Service Assessor (QSA)
The most important part of the PCI compliance process is to evaluate and study the security status through a PCI QSA (Qualified Service Assessor). Merchants typically need to retain a QSA, and they’d better secure a QSA before starting to evaluate payment processors. QSA will enable you to evaluate the security situation of a potential processor and make the right choice.
- Decide on Your Payment Process
Decide on whether customers should fill out payment forms on your website or on your ISO (gateway’s) website. If this doesn’t happen on your website, the process of PCI assessment will take place faster and easier.
- Decide on the Payment Types You Want to Accept
You may want to accept American Express, Mastercard and Visa, or maybe Discover and Diner’s Club. Also, you may consider Amazon Payments, PayPal, Apple Pay, Bitcoin, Venmo, or e-checks and ACH. Technology not only makes it easier to use traditional payment methods online, but also provides you with multiple options.
- Simplify the Payment Form
Ask your payment processing provider to examine their online onboard payment form. Consider payment form simplicity. Instead of asking for city, state and then zip code, ask for the zip code first. Instead of asking the type of the card and then the card number, consider asking for the card number first.
- No Shipping or Tax Surprises
Surprises at checkout will make you lose your customers. Calculate full shipping charges and taxes accurately. For example, the fact that you have operations in the state of your customer can influence your sales tax. This is known as nexus. When it comes to shipping costs, weight and speed play the main role in this regard, but distance can also have its influence. The delivery service used by the merchant is an important factor as well.
- Mobile Experience
When choosing a partner, don’t forget about mobile integration. As Tim Sloane, Payments Analyst with the Mercator Advisory Group suggests, you should think about integrating your mobile app into the web before setting your eCommerce architecture.
- Give Priority to Firms Specializing in Your Field
This refers to merchants specializing in this or that field, like quick-service restaurants, with their own payment specifics.
If you’re interested in opening a secure and low-cost merchant account for your online business, turn to EMB. eMerchantbroker.com is the top high risk processor in the US and boasts an A+ rating with the BBB.