By Fernanda Mathias
A merchant account is a vital part of credit card processing for online business. Selecting the right processing payment provider to help you acquire credit card payment facilities is just as important. — Merchants who cannot accept online payments are doomed to fail. It is essential to understand how credit card processing works to avoid making mistakes and losses.
Here are a few facts about merchant account processing of which all merchants ought to be aware:
Technology is the future
Research shows that 87% of UK households made online purchases within the preceding 12 months – the country’s highest online purchase penetration rate in the past 11 years.
Another study points out that in 2018, the weighted average of mobile shoppers in Western Europe made up most internet shoppers at over 60%.
Customers no longer go to a physical store to purchase goods or services. The right merchant account provider needs to be ready to deal with the changes in the e-commerce business to provide you with the best alternatives.
Cash is no longer the option
The same customers who choose to purchase their products online also prefer to use alternative payment methods. It is safer, faster and more convenient.
Statistics reveal that UK consumers tend to use credit cards even to pay small, everyday purchases. Digital currencies, digital wallets and contactless operations are also trends in the online payment world that customers prefer to use every day.
The right merchant account provider will offer you multiple payment options to process payments with advanced security tools to protect your business from fraud actions.
Customer service is vital
The merchant is incomplete and unsuccessful without a satisfied client. A reliable merchant account provider is concerned with the customer experience and satisfaction as much as the merchant. Make sure you choose a payment provider that can offer the best customer service for your business.
Find out if your merchant provider offers 24-hour support as well as live chats – this will enable you to have peace of mind, knowing that help is there whenever you need it.
Merchant account providers are not equal
The most important thing to know about merchant account providers is that they are not the same. Some providers will charge you outrageous fees without offering the best deal you could have.
Luckily, there are reliable merchant account providers that specialise in high-risk industries, such as iPayTotal. Our experienced team can offer you custom-made solutions to help you increase profitability and expand your business.
At iPayTotal, we have a clear perspective of the future of payment processing. We understand the needs of the online merchant and have the best alternatives for your company, including crypto payment options.
Apply today for a merchant account and learn more about our offers! — And just so you are aware, we do indeed offer 24/7 support for our clients, and our fees are considered the most reasonable in the UK.
Call us on +44 800 776 5988.