Before Starting an E-Commerce Business Rules to Know with Merchant Account

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Rules an E-Commerce Business Needs to Know Before
Starting with Merchant Account

• ByPaycron Inc.

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Todays e-commerce world is moving fast on the
wheels of merchant services. However, there are
businesses that are still not clear with their
concept. What exactly these services are, how
they bring profits to a business and how online
payment is processed are the aspects that create
a sort of uncertainty for them.
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E-commerce credit card processing is no way
different than point-of-sales (POS). Just as a
POS reads the credit card details and send
transaction authorization request over the phone,
credit card processors depend on shopping cart to
gather clients order and payment details. The
information is then encrypted and sent to the
card issuer for authorization via a payment
gateway.
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Before starting a business on e-commerce
platform, few things are needed to be considered.
Check out the technicalities that decide the
success rate by determining whether the customer
will stay on the website and take the services or
not.
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Materials

• 1. An e-commerce website Pulling customer orders
  and processing the payments securely effortlessly
  possible in e-commerce website. By connecting the
  merchants web store with the processing bank,
  card issuing bank and other credit card
  companies.
• 2. SSL certificate SSL stands for secure socket
  layers and refers to services that encrypt the
  information that is communicated online. By doing
  so, it provides security against illegal use.

• Found around the house!

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Materials

• 3. E-Commerce shopping cart
• As known to most of us, shopping cart collects
  and organizes customers list of items that are
  selected for purchase. By calculating the order
  total, it provides payment details to complete
  the transaction.

• Found around the house!

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Materials

• 4. Payment Gateway
• Payment gateway links a shopping cart with the
  merchants payment processors system to pass on
  the transaction details provided by the
  customers. These details are sent by the
  processor to the card issuer for approval. Upon
  approval, the response is delivered to the
  merchant through the payment gateway.

• Found around the house!

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Materials

• 5. E-Commerce merchant account
• Accepting credit and debit cards needs a merchant
  account. These accounts are provided by the
  processing bank or a third party. After a payment
  transaction is processed, the processing bank
  transfers the payment into the merchant account
  of the business.

• Found around the house!

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Materials

• 6. User-friendly website design
• This may come as a surprise or shock or may be
  both to most of the businesses out there. Easy to
  access site that present the products and
  services systematically attracts more customers.
  Moreover, the site should load easily and quickly
  in every web browser.
• 7. The business vision and the policies should be
  in visibility
• As per the observations, customers these days
  like exploring all page types related to the
  working of a business. Hence, effective
  visibility of every page ensures that the
  business impresser the customers, which
  ultimately brings more traffic and funds.

• Found around the house!

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• 8. Electronic payment acceptance rules should be
  followed
• Every e-commerce website must display the payment
  acceptance. It should display all the electronic
  payment acceptance relationship symbols in the
  visibility of the customer. Before deducting any
  amount from the customers account, the site must
  take the permission of the buyer. In other words,
  an electronic invoice needs to be displayed on
  the website page when payment information is
  collected. Every time an order is made by the
  customer, an e-mail should be sent. All this is
  required to prove that payment from the merchant
  is deducted after taking their consent. Talking
  about the product that is a subscription,
  recurring amount should be displayed at each and
  every point of sale.

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• 9. Payment checkout page essentials
• Many times, websites dont provide information
  about the terms and conditions related to their
  products and services. This is something that can
  create problems for the business. Lack of
  information compels customers to presume things
  on their own. Hence, every website has to have
  terms, tentative disclaimers and policies about
  their products services. This makes it easy for
  customers to know all the important conditions
  before placing any order.

All these factors should be taken care and
followed before starting with payment gateway for
a business. Starting with merchant account for
e-commerce is easy with the services of
professional certified merchant service
providers.
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• Though there are many account providers these
  days, it is good to explore services of few
  reputed ones before opting for the account.
  Moreover, it is also important to request price
  quotes before selecting any. Decision should
  never be made only on the parameters of single
  fee or rate, as the complete proposal needs to be
  evaluated. Security standards, terms
  conditions and visibility of companys vision
  should be the forte when planning to start an
  e-commerce website.

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Every merchant who is planning to jump into the
world of merchant services for their website,
abiding by these suggestions can help reach the
target both in terms of productivity and
profitability.
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• Every merchant who is planning to jump into the
  world of merchant services for their website,
  abiding by these suggestions can help reach the
  target both in terms of productivity and
  profitability.

• Last but not the least, there is no denying the
  fact these accounts have promising future.
  Starting with them might cost a bit more but the
  results are worth the money.
• Get started now !!!!

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