In the last couple of years, online payment processing has gained popularity worldwide. Although many banks still remain a little reluctant when it comes to offering online merchant account services due to their concerns about potential fraud threats. There are, however, many merchant account providers who offer international payment processing services to offshore and international merchants. That is why, while looking for a merchant account provider remember to look into the kinds of payment processing services they offer.
Types of Payment Processing
There are generally two kinds of payment processing services that are offered by merchant account providers, these being manual and real-time payment processing. Manual payment processing requires you to deliver the credit card number via phone, fax or by an online form. As compared to the real-time payment processing that allows merchants to process credit cards online in no time at all.
Online business offers secure and cost-effective ways for merchants to process transactions. Merchant account providers offer online payment processing services so that international and offshore business owners can process online on secure servers and virtual terminals. If you can get online payment processing services with a merchant account provider who will be able to provide you and your customers with online payment processing services worldwide then you would not have to worry about getting a U.S bank account, like most merchants who think that they need a U.S bank account to process online transactions worldwide. With the right merchant account providers online payment processing services normally include being able to accept various credit cards and multi-currency options.
Payment Processing Services – What they offer
Some processors might have special requirements for online payment processing services for international customers as there can be various limitations when it comes to worldwide services.
A real-time payment processor helps save time and eliminates the need for processing credit cards manually, reducing risk and offering greater protection against credit card fraud than manual payment processing can. A good payment processor offers the major benefit of conducting online transactions in real-time. Merchants tend to select the payment processing methods considering the volume of online transactions they would be processing for their e-commerce business.
Generally, in order to provide real-time payment processing services to customers merchant can either have a connection made from their e-commerce site to the acquirer for connecting to a card processing network or outsource to a payment service provider. Having a merchant account that provides online payment processing offers a great flexibility.