How to Process Online Business Orders

How to Process Online Business Orders

When someone sends credit card information to your online business, you need to pass the information on to the banking system. Whether you do this relocation yourself or hire another company to do it for you is up to you.

Do it yourself equipment
To send credit card information to your bank, you need Point of Sale (POS) hardware or software. The hardware, which you buy or rent from your bank, is a terminal – a gray box of the kind you see at many local retailers. The program is a program that connects to the bank through a modem.
The device or software is programmed to allow the sale and transmission of data to the bank. The bank then approves your business or personal account. The bank also deducts the discount rate from your account weekly, monthly, or with each transaction.
If you have a small-sized website – perhaps only one item for sale – you can use an online payment gateway, which enables you to add a payment button to a catalog page that securely processes a customer’s payment information.
When you receive the information, you can manually submit it for payment using a program such as First Data Global Gateway Connect (Virtual Terminal). The transaction is then processed on one of First Data’s secure servers. You and your customer receive email notifications that the transaction has been completed. You can learn more on the First Data website.

Automatic processing
You can hire a company to automatically process credit card requests for you. These companies compare shipping and billing addresses to help ensure that the buyer is the person who actually owns the card and not someone who is trying to use a stolen credit card number. If everything checks, the company sends the data directly to the bank.
You can look into the various options offered by VeriFone, Inc. or AssureBuy for such services.
Automatic credit card processing works so fast that a customer’s credit card can be charged immediately, whether or not you have an item in stock. If a customer receives an invoice and is still waiting for an item in a late order, they may become very unhappy. For this reason, some business owners choose not to use this type of service.