Reasons to Find a Reliable Payment Gateway Solution

Posted April 25, 2020 by DaneBronson

Businesses need to make several investments, to please customers, increase revenue, process online payments, and more.

Businesses need to make several investments, to please customers, increase revenue, process online payments, and more. Finding the right providers and resources for certain requirements is essential, in order to take advantage of great features and services in return. This means that choosing the right payment gateway is one of the most vital decisions you will make. The same concept applies to American Express merchant. Knowing as much as possible about providers and their solutions is the best way to accomplish all goals.

Why Payment Gateway

More and more businesses are taking advantage of the online possibilities and they decide to start building a brand and a presence on the internet. Setting up an ecommerce website implies many responsibilities, such as finding the right domain, servers and a payment gateway. Not to mention that most buyers prefer online payment possibilities, being more convenient and accessible. It is better to simply receive the order knowing it is paid rather than having money around when the courier arrives.

To make an informed decision about the gateway, it is best to start with the principles of online payment, such as pricing, procedures and players. Processing card transactions implies several players, at one side is the seller and on the other side is the client. In between there are different technology solutions that create the connection. To be able to process credit card payments, business owners need to collaborate with an acquirer, or a merchant bank. This institution accepts the payments and places them in an account. Customers need to have a credit or debit card to be able to pay for products/services online or in person.

What Is the American Express Merchant?

People use American Express due to various reasons and in particular because they obtain great rewards, such as discounts on supermarkets, gas, restaurants, and more. More to it, there are additional benefits, such as extended warranties and rental car insurance. These aspects convince many to apply for such a credit card, but business owners that manage online payments have some concerns regarding the American Express merchant . Some have noticed higher processing fees and rates, and until now, there was not a solution to the issue.

The aspect is changing as new pricing models arise and as a business, you need to make sure that you are taking advantage of the latest programs and facilities. If you already accept payments from American Express clients, you have to make sure that your account is set up on the new pricing program. A very good example is OptBlue. There are many reasons to start using it and after getting to know as much as possible about it, businesses will not hesitate, especially because they want to save money and decrease fees. There is a constant effort to make this happen and many don’t know about the possibilities available out there. This is why doing some research changes the situation completely.

Online payment is a feature worth implementing in an ecommerce platform, to attract buyers that prefer this feature. However, having the technology is highly important and a payment gateway is the first one that has to be on the list. This software creates the link between the shopping cart on the website and the card-processing network. The merchant service or the payment processor is the additional technology, which does all the work. It moves the transaction to the network, sends a billing statement to the seller, works with the bank, and more.

Business owners should do everything possible to understand the concept of online payment and how the money arrives from the customer to their account. The payment gateway has a great role in the discussion and finding the right one helps process transactions faster. In general, the transaction occurs in the following manner:
• the client buys a product through the website using a credit/debit card
• the gateway captures the information and encrypts the data to maintain privacy before the payment processor receives it
• the processor then sends the request to the client’s bank to ask for the money in exchange of the purchase
• the issuing bank approves or disapproves the transaction
• in case of approval, the processor tells the business that the transaction is approved

The entire verification process takes about a few seconds and the second process is where you are being paid and receive the money. The card issuer sends the money to your business’s bank and the amount is deposited in the account. This part of the process might take a few days. Everyone involved in the process expects payment, including banks, payment gateway, credit card associations, and such. For every transaction, businesses have to pay fees and in some occasions, these are bundled, especially if a provider is chosen for everything and has such facilities. These costs have to be included in the products/services, to back-up the investment and obtain profit at the end of the day.

Considering the amount of people who purchase online products and services, it is understandable to develop an online business and incorporate all sorts of functionalities, to attract new clients and satisfy every payment request. Not all methods are affordable and businesses need to make considerable investments and pay rates. This is the case of American Express merchant, but the good news is that there are ways to save money.

Using a pricing model, such as OptBlue, allow reduction of American Express merchant fees and benefit from discounts. There is much more flexibility and companies can save considerably, thousands of dollars per year actually. More to it, the pricing model is more transparent, allowing a better view on all transactions and how much they cost to process.

Benefiting from customer support for American Express merchant is also very important and it is a lot simpler to call the provider and not AMEX. The support team stands at your disposal and makes sure all your questions and inquiries are resolved. It is worth looking into such possibilities and services, because in the end, they can have a positive impact on your business.
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Issued By Dane Bronson
Country United Kingdom
Categories Business
Tags payment gateway, American express merchant
Last Updated April 25, 2020