If you are starting a new online business or are about to begin credit card processing for your online business, consider using a third party credit processor. Third party merchant services are companies that can handle all credit card processing for your company. They are the link between you and the bank.
Third party merchant services take care of the entire purchasing process: the shopping cart, credit card authorization, customer service and billing inquiries.
Buyers on your website click on a link that takes them to a secure order form on the third-party server. You are notified--usually by email--when a transaction is processed. Your only responsibility is any order fulfillment. Because third party merchant services manage all aspects of processing, small-business owners save money on administration and customer service. There is no need for confirming transactions or answering billing questions.
Advantages of a Third Party Merchant Service
- No hardware or software is necessary.
- There are none or little setup costs.
- There is no approval process. You just link your services or products to the Third Party Service that will handle all credit card processing, including card checking, card processing, and deposits.
While using a Third Party Merchant Service can be efficient, be sure to shop for fees. Ask how they handle chargebacks and returns. Also, find out what kinds of statements they prepare for you.
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