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Understanding
Online Payments
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Issues to
Consider
In order to avoid costly mistakes, ask yourself the following questions
as you plan for, develop and launch your payment application:
- What are
my customers’ payment needs?
- How can I
accommodate those needs through the payment application?
- Which financial
institutions should I use for my merchant account(s)?
- Does my developer
clearly understand my payment application requirements?
- Does my payment
gateway support my application and connect to my merchant bank?
- Will my payment
gateway be in business 12 months from now?
- Have I tested
my payment application thoroughly using a real credit card?
Summary
Offering convenient payment options to your customers is a good
way to secure their loyalty and reduce your operational costs. A
variety of payment methods are available, and various interfaces
can be used depending upon the needs of your customers and your
business. When evaluating payment processing options start with
your customers’ needs and document all of the features that
you wish to have in your payment solution. Take the time to shop
around, and make sure that the service providers that you choose
are ones that you will be happy with in the long run.
Written by Robert Levings
http://www.TransActive.ca
TransActive is a leading supplier of payment processing solutions
to businesses across North America. Offering world-class solutions
at affordable prices, TransActive helps merchants simplify the process
of acquiring, launching and using payment solutions to improve the
way they do business.
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