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Top Ways to Accept Payments Online

Online payments have been gaining traction even before COVID-19. However, the latter made the switch to digital payments much faster. Today, digital commerce and mobile point-of-sale (POS) payments are highly popular around the globe.

If you’re interested in where to get a reliable and affordable tech support merchant account and how to accept payments over the internet, you’re at the right place.

Digital Payments on the Rise

A recent global payments report by a well-known processor shows that in North America, credit cards were on the top of the list of commonly used payment methods (34%) in 2018 and now they come after eWallets.

Merchant accounts, payment gateways, and payment processors are some of the top aspects you need to about when accepting payments online.

  • A merchant account is a bank account for your business at the payment processor. You need to apply to a payment processor for a merchant account to receive payments.
  • Think of a payment gateway as software or a platform that makes it possible for payment data to be securely transferred to the processor. This technology reads the debit or credit card information and transfers the data to your bank to process.

More specifically, it’s the part of a payment processor that’s responsible for transferring payment information between the customer’s bank and your merchant account to finish a transaction. 

How to Accept Payments Online

According to Statista, online payments transaction value will increase by 16.3% in Europe, 15.2% in the US, and $11.2 in China from 2020 through 2025.

How can you accept online payments from your customers?

  • Accept major credit debit cards like Visa, MasterCard, Discover, or American Express.
  • Use a payment gateway to connect your website to a checkout system.
  • Use electronic checks (eChecks), a type of EFT (electronic funds transfer). They work like a paper check, but online.
  • Try direct debit that’s set up easily via the Automated Clearing House (ACH). This is a network responsible for direct debits in the U.S.
  • Use mobile payments such as mobile wallet payments.
  • Accept through click-to-pay invoices by sending invoices to your customers via email so they can pay within a few clicks.
  • Use recurring billing software to send bills to your customers automatically.

To get fast and easy access to a secure and cheap merchant account, such as a tech support merchant account, or any other payment processing service, turn to a comparison company in the U.S. With a reliable comparison specialist dedicated to offering the most honest snapshot of processors, you can enjoy the best deal for your financial needs.

Methods You Can Use to Accept Online Payments

Nowadays, your business must be ready to accept payments online in a variety of ways. Card payments and mobile payments are just two ways to accept payments online. Make sure to work with a reputable processor in the U.S.

Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of tech support merchant account providers. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.

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