An online payment processor is an online service that acts as a intermediary between your website and customers. This service allows your company to accept payments made by debit or credit card from your customers and then deposit the money into your bank account. If you’re selling digital goods, accepting donations or registrations for events, or offering subscription-based services, having the right payment processing solution in place will allow you expand your customer base and increase sales.
Your customers input their payment information in forms, typically on your mobile or website app. The form will ask you to enter your how to process credit cards online name, email address and card number, as well as CVV and expiration date. The payment processor will verify that the purchaser is able to complete the purchase and will then authorize the transaction. If the transaction is not authorized, the buyer will receive a message which informs them of the reason and provides them with the option to try again, or select a different payment method.
When choosing a payment processor, make sure you choose one that works with your current point of sale (POS) system or offers a solution that can be integrated directly into your online site. Find out if the service offers a wide array of payment options, including alternative QR codes, credit cards and PayPal. It is recommended to choose a service that can help your business’s international operations, since it will help you expand into new markets and boost conversion across global customer bases.
