Online Payment Processing

The experts at eMarketer project that by 2011 nearly 75% of US households will be actively using the internet in their home. Well over 25% of US households are already buying online. Yet many companies are reticent to implement online payment processing. Why?

One reason that some business owners have been slow to adopt online payment processing is that it seems complicated. Companies, especially small businesses who recognized the need to have a presence online found that building a website is more difficult than it looks. Without a background in web design and coding it is nearly impossible to build a professional looking website. Basic items such as forms that users can fill out for more information are not simply a click away. Implementing online payment processing independently simply seems out of grasp

Business owners and companies who underestimated the difficulty of building and maintaining a website often look to a third party design firm. Very basic sites often cost thousands to build, and even more to maintain. Online payment processing often costs additional money. Complicated talk of security and the encryption of credit card numbers make internet payment processing seem even further away. Some business owners believe that they cannot justify the expense. Even if they had a website and an online payment processing system, there is a good chance that not many people would use it.

With all the hurdles that stand in the way of online payment processing many companies table the idea indefinitely and move on. This is a mistake. There are many factors beyond sheer volume that make online payment processing a very good investment.

Consider the limitations manpower puts on sales in a traditional brick and mortar operation. Companies need to employ someone, usually multiple people to work cash registers. These people need to be managed attentively. They also need to be paid even when no one is actually on site making purchases. At the end of the day they go home. Conversely, online payment processing requires relatively little management. Online payment processing works as needed and does not go home at the end of business hours.

Companies should also consider how they acquire new customers. If everyone who made an in store purchase directed two other people to make a purchase on the web using online payment processing, it would be a huge success. Online payment processing allows you to monetize free viral marketing opportunities.

Another factor not to be forgotten is the repeat purchase. Online payment processing makes it possible for a customer who has visited a store location to make an additional purchase without having to return. In this case online payment processing actually makes these repeat purchases more valuable as manpower costs are negated.

In many cases businesses that dismiss an online payment gateway because it is too expensive or cumbersome to implement are remiss. Online payment processing offers benefits that storefronts do not. It reduces manpower costs, offers opportunities for free marketing and reduce the costs associated with making a sale

START ACCEPTING CREDIT CARDS ONLINE TODAY! Fill out the simple form above to the right or call 1-877-305-4943 to started with online payment processing today with MerchantAccount.com.