E-Commerce credit card processing
Where Should You Look for an eCommerce Credit Card Processor?
As experts in eCommerce merchant services, we’ll get your business ready to accept eCommerce credit card payments and other forms of electronic payments with customized online payment processing solutions. At Tritiumpay, we are a leading authority in providing eCommerce merchant services, eCommerce merchant accounts, and eCommerce credit card processing solutions for a vast array of industries.
The eCommerce Credit Card Processor Revolution
eCommerce is defined as the buying and selling of products or services exclusively through digital channels. There are three types of eCommerce; the most common form being online shopping, or as we in the business world know it as business to consumer (B2C). Here consumers can order various products and manage their eCommerce payments online. Another category is business to business (B2B), where businesses, like manufacturers, retailers or wholesalers exchange goods and/or solutions. The next kind of e-commerce entails transactions from consumer to consumer (C2C), through online platforms like eBay, Etsy or other comparable websites.
In the last years in the US, the eCommerce industry netted $409.2 billion in sales and by the end of 2018 experts projected another $461.5 in sales through eCommerce. By 2022, sales are expected to grow by 38%. Furthermore, recent studies have shown that 96% of Americans who have internet access have made an online purchase at some point and that four out of five of US adults online have purchased through eCommerce in the last month.
eCommerce is now as popular as in-store shopping, with 51% of Americans citing online as their favorite way to shop. eCommerce is steadily cutting off larger slices of the sales pie year after year, and if you are one of the millions of businesses that use an eCommerce platform, you need to ensure you have a high risk eCommerce credit card processor and eCommerce merchant account, internet merchant account, or online merchant account that will not take high percentages of your debit and credit card sales. Before you launch your business, make sure you start with the right eCommerce payment processing solutions. From Tritiumpay we can help you choose your online payment processing solutions.
eCommerce Credit Card Processing FAQ:
If you own a business in one of the many industries that are labeled by acquiring banks as “high risk,” the popular electronic payment platforms may decline your online merchant account and freeze sales debit and credit card sales collected. A solution would be to seek experts who can provide eCommerce merchant services, like we do at Tritiumpay. We can put you in touch with the right eCommerce credit card processor from the start, so you are never without online payment processing solutions.
Certain industries are thought to be high-risk. Firms in this class typically have very high discount rates and big security reserves. A retailer is usually classified as high-risk if the business has a greater chance of fraud and chargebacks. These types of businesses need a high risk internet merchant account and eCommerce credit card processor.
Credit card processing providers tend to offer similar services, therefore it’s often like comparing apples to apples when deciding between one over another. If you’re a business owner and plan to accept credit card payments, whether it’s in-person or online, you’ll need a credit card processing provider that can satisfy your company’s unique merchant needs.
Although you will need to pay some costs and ongoing fees, the ability to accept credit card payments, along with cash, increases your day-to-day earnings considerably and boosts the overall gains of your business.
When it comes to credit card processing, it’s no wonder that Tritiumpay is one industry leader in the payment processing provider game. We’ve done the work to set you up with complex solutions and helpful tips for quickly getting you on the road to payment processing so you can accept credit card payments online.
One important aspect in getting approved for reliable payment processing is to be completely upfront with the credit card processing company. If not, your merchant account will likely be closed without notice and your company and revenue flow is going to be disrupted. If you are honest and utilize a reliable payment processing company from the start, it will benefit you in the long-term.
If you have had a merchant account before, give your previous payment processing history when applying for a new merchant account. Even if you have been denied service or dropped from an aggregate previously, you can still find a payment processing with a company that’ll work with you and your specific needs.
We talk to each and every retailer to get a clearer idea of their business needs and which payment processing solutions would best suit their needs. Tritiumpay is extremely transparent about its process and its pricing and can offer payment processing solutions to merchants at the lowest rates in as little as six hours.
It is important for your business to accept credit card payments primarily because we now live in a highly digital, online for everything, technologically advanced world – one in which whatever consumers want are as close to being purchased as a click on their smartphones. For this reason alone, it’s mind-boggling that there are still some companies that do not accept credit card payments as a purchasing method.
Additionally, it was estimated that by 2019, that online shoppers would likely be spending a whopping $39 billion, and businesses would need to accept credit card payments if they wanted to stay into this market. If your company is unable to accept credit card payments, then you are missing out on a huge slice of the revenue pie, which allows for your competition to gobble up your portion.
In the end, being able to accept credit card payments will help to expand your customer base, especially to those who are more likely to purchase online, which will only keep your customer base growing as consumers learn that they can trust your business for their shopping needs.
The short answer is yes, you definitely need mobile credit card processing. Everyone likes to have choices, and your business’s ability to accept credit card payments, from the comfort on their own homes via mobile, provides customers with the ability to choose the way they want to pay from wherever they might be.
Being given the option to pick their preferred method of credit card processing from the convenience of their mobile phones (via mobile credit card processing) can boost customer loyalty.
A customer who can not pay with their preferred way of payment, especially if mobile credit card processing is not an option for them, a customer is more likely to stop buying with you if they don’t have the freedom of credit card processing from their mobile phones – what’s more, if your competitors are making it that much easier for them to shop elsewhere, they absolutely will.
Our eCommerce Merchant Accounts and Plans Feature:
We understand the unique payment processing requirements of an Internet-based business, as 90% of our clients process payments online.