In payments industry parlance, MOTO (often written MO/TO) denotes Mail Order or Telephone Order transaction payment processing. Like all other e-commerce transactions, they come under Card Not Present (CNP) category. All Products and services can be ordered and paid through so many modes of payment such as mail, e-mail, fax, or telephone without the card being physically present in a store with the consumer.
Like other CNP purchases, MOTO transactions are considered at a higher risk for fraud than those made in a store with customer card in hand (card-present). In daily business life, many merchants accept orders over the phone, and some receive orders via mail also. One may be thinking why in this day and age would anyone would like to order something over the phone, or by mail? The answer is easy: Comfort is the king. Well, it is certain But that is not with everyone finds it comfortable to put their credit card account information “out there” because they perceive a higher risk to entering credit card or banking details online.
Also, some shoppers prefer to have real-time experience talk to a live person before placing an order. However, they still might have questions or concerns regarding a certain product which requires more information before going for the purchase. Such customer resistance to online ordering can lead to lower sales revenue — not something most merchants want to contemplate. Merchant accounts are the best solution to mitigate this challenge in order to put business away from the risks faced day to day basis.
So How Do MOTO Transactions Work?
Cardholder’s identity and the validity of the transaction are the most important task that Mail order/telephone order (MO/TO) and electronic commerce merchants must verify to the greatest extent. There are sales methods of three transaction types:
Retail transactions take place with the payment card present in a store, It basic functions swiping, keying, insert into an EMV chip reader, using a terminal in the store.
MOTO transactions take place when the card number is received through the mail or relayed over the phone. The merchant enters the received card information through an online gateway or a terminal. Even if the card is not present, still the purchase information shall include certain verification of (security) data, i.e CVV or CVC2 code, zip code of card registration, billing and shipping addresses, and expiration date.
E-commerce transactions take place when the consumer uses his card onto the merchant’s website by entering his card information in order to process via the online payment gateway. Verification of information is also done for these transactions, by providing the billing and shipping addresses, CVV or CVC2 code, and expiration date. Merchants desiring to establish MOTO capabilities must ensure that their payment processing system is set up correctly to include MOTO sales.
What to Look for in MOTO Merchant Accounts
Before choosing a MOTO merchant account provider, one has to be assured that one is specialized in providing MOTO payment processing services:
- To a wide range of industries;
- Acceptance of a variety of payment cards, including Visa, MasterCard, and many other popular card brands;
- Processing of multiple currencies in offering transaction;
- Using a PCI-DSS Level 1 compliant payment gateway your chosen provider of MOTO merchant accounts also specializes in helping their clients manage the risks associated with CNP transactions, including latest chargeback management and sophisticated risk management technologies.
To Know More about MOTO Merchant Accounts
When you’re ready to say “hello” to MOTO processing, give IPaytotal a call — and benefit from the secure, streamlined MOTO card processing we offer. It is certain that MOTO merchant accounts can be expensive in this current times. Many organizations are charging a high rate for MOTO accounts due to the inherent risk prevailing within the industry. But that is not the case with us. At Ipaytotal, we are very proficient in helping your firm to mitigate risk while minimizing cost at the same time. We understand the security risks are inherent within organizational functions but there are remedies under MOTO service solutions to mitigate these risks.
We have extensive years of experience supporting business owners in streamlining the processing of remote transactions. We’ll start by learning more about your business and customers. And then initiate a MOTO merchant account solution which helps organizations to reduce the fraudulent activity risk to your business.
Hence saving you potentially thousands of dollars annually, simultaneously improving services to your most valuable customers. Give us a call at +44 800 776 5988 or get in touch with us through our website. Our comprehensive ongoing account management ensures that customer always receives an instant response regarding account issues that arise in course of their business. Our specialists provide all kinds of answers to your questions along with guidance 24/7. Hence, In this manner, you are able to meet your processing motive of the transactions as you grow well into the future. As your business partner, that’s what we strive to become contributory to your “SUCCESS”.