How Internet Merchant Accounts Affect Overall Web Sales
$1.25 billion in sales occurred during the Cyber Monday online sales event of 2011. That figure accounts for more than 1 out of every 10 web sales during the month of November for 2011. This event follows the traditional Black Friday, which is the start of the major holiday shopping season. Online credit card processing is essential to the success of web sales. Electronic transfers of funds are handled differently by each online store. Most online stores rely on online payment systems that can honor b2b payments, or business to business payments. internet merchant accounts designed specifically to manage level 3 processing, or processing credit cards with governmental lines of credit associated with the accounts in question.
Online make it simple for a business and a customer to exchange electronic funds securely. This is why more internet merchant accounts pop up every year. An increase in internet merchant accounts means good things for customers and businesses alike. Consider that 42 percent of all mobile device purchases, or people that use mobile apps and browsers to buy goods and services, are in the demographic of 25 year olds to 44 year olds. Secure internet merchant accounts are very important in cultivating a purchasing audience among this demographic. If your business is not able to provide secure payment management, it is not likely that you were going to attract much business. Most web shoppers are too savvy to bring their business to online stores that do not provide secure payment management.
The payment card industry has specific protocols and compliance issues in order to ensure the integrity of online payment processors across many industries. If a consumer makes a purchase, and funds go missing or are electronically deleted by accident, a small complaint will be lodged and a refund is usually provided. However, making a mistake on a large scale with a business account that makes a purchase through an online store will be a much larger problem. Consumer purchases and business purchases are so unique, in fact, that they have different forms of internet merchant accounts and payment processing services on the web. If you need to establish internet merchant accounts to facilitate business transactions, especially if you plan on managing payments from a governmental body, make sure that you have consistent and reliable IT support. Excellent support could mean the difference between impressing customers that spread the good word of your services, and unhappy customers that tell others to stay away.
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