11 Feb Online Credit Card Processing Explained in Layman’s Terms
In the wake of this digital era, nothing is the same as it used to be a few decades ago. Now we can simply shop almost every product and service that would aid in making our lives better and process a quick online payment in seconds! Online transaction is undeniably speedy and convenient- no wonder several businesses have hoped the boat of technology and rowing smoothly.
Today, we are introducing the concept of online credit card processing in the simplest terms, so that you won’t feel bewildered and run away to your old-good traditional methods. The brief will help you understand how easy it is to accept debit/credit cards directly via your ecommerce store.
What is Online Credit Card Processing?
Online credit card processing, as the name suggests itself, is the smartest and easiest methods to allow your customers make online payments using their credit/debit cards like Visa, American Express, Master Card and Discover.
To accept electronic payment card transactions on the web, a business needs a merchant account, which acts as an intermediate to transfer funds between customers’ and businesses’ bank accounts. When a customer buys a product, the merchant account processes the transaction using a payment gateway & payment processor to authenticate and deposit funds in the merchant’s account.
We Hope this was easy to digest! Accepting online card payments can help you engage your tech-savvy buyers and serve them even better. We at Virtuous Payments aim to help businesses thrive in our digital era. By providing secure integrations at the lowest rates for merchant services/payment processing solutions for business owners, This means you get to keep more of your money towards other aspects of your business.
To learn more, Contact Us here to get started!