Checks Out At Check Out

Checks Out At Check Out
Word Count:
400
Summary:
Jason Schwartz looks at ways of expanding your online customer base and streamlining your accounts processes.

Keywords:
online,check,processing,checks,payments,merchant,payment,

Article Body:
As businesses providing services and goods that can be purchased online, ask yourselves this question: am I doing everything I can to enable my visitors to buy my products?
Are you offering them a complete range of payment options? Or are you, like some many online businesses, making the mistake of assuming everyone has a valid credit or debit card? They don't.
In fact, over 11% of the population of the United States doesn't have a credit or debit card and, of course, millions more are maxed out at any one time. Do you really want to ignore 30 million plus potential customers? No? Didn't think so.
The solution is to offer check payments to customers.  With the increased availability of online check solutions for all sizes of business, problems normally associated with accepting checks - such as delays in receiving payment, bad checks and the additional banking time - are largely a thing of the past.
ADVANTAGES OF ONLINE CHECK PROCESSING
A complete online check processing service will include check verification, so you can determine whether an account is overdrawn or closed before dispatching goods; the ability to accept checks by fax and phone as well as online; fast, automated transfer of funds from the customers account to yours and even electronic check recovery.
As well as increasing the number of potential customers, there are other advantages of such a solution for any online business. These include :
Eliminates "the check is in the mail" syndrome.
Allows faster access to funds than waiting for check payment by mail.
Reduces labor costs associated with physical check processing.
Cheaper than accepting credit cards and lower risk of credit card charge backs.
Saves on expensive invoicing and mailing costs.
CHOOSING AN ONLINE CHECK PROCESSOR
There are a number of companies offering third party online check processing services, many of whom also provide integration with your current shopping cart. The smaller online business would be well advised to choose a service that takes a small percentage of the value of each check with no monthly minimum number of transactions. On the other hand, companies dealing with larger check values may find that a transaction processor offering a flat fee per check is a better option.
Whichever option you choose, online check processing can both increase your customer base and streamline your current billing processes. It maybe time you asked your customers to get their checks out at checkout.

A Guide To Receiving Online Payments

A Guide To Receiving Online Payments
Word Count:
415
Summary:
Most online shopping sites enter into a business alliance with payment processing companies.

Keywords:
payment, gateways

Article Body:
The World Wide Web has become an integral part of our lives. It has penetrated so deeply into our daily living that people now turn towards the World Wide Web for buying clothes, books, electronic equipment etc. For an online seller, then, it becomes imperative to find means to make an online transaction as easy and painless as possible. Since most people prefer to use their credit cards while shopping, webmasters need to integrate this service into their online shopping websites. An answer to your online payment needs can be a payment processing company.
Most online shopping sites enter into a business alliance with payment processing companies. However, you should diligently comb the market for the best deal before you sign up with a service. Make sure that they are not overcharging you. Also, check out their reputation in the market – are they known for their fair minded financial and business transactions? This kind of a company operates through two types of services – one id intended for companies with merchant accounts with their banks and the other for companies who do not possess this kind of a bank account. The first kind of service is generally used by fairly large financial institutions and organizations dealing in independent sales.
The advantage of having a merchant account is that you can receive payments within a few days of the transaction. However, if you do not have a merchant bank account, the payment processing company receives the payment on your behalf initially. The mode of operation is that the buyer will fulfill the transaction not on the seller’s website, but on the site of the payment processing company. (If you choose the former service, the processing company will help you enable your website to receive payments from the buyer directly.) Also, it is only a few times in a month that the processing company will forward you the payments.
There are a couple of steps which need to be completed before your website can host the facility of receiving payments through a credit card. Firstly, you will have to host an order form on your website. You then need to establish a gateway. This kind of service transfers the customer’s payment and credit card information to the payment processing company. You would then need to establish the facility of a shopping cart on your website. If your site already hosts this function, the payment processing company will surely be able to integrate its services with it.