Payment methods have been upgraded with technology, like every other aspect of our lives. Still, credit cards are the most prevalent way to pay worldwide. Many people do not know how to accept credit card payments online or over the phone.
Knowing all about credit card payments is crucial to ensuring success in any business. Whether you offer services online or sell goods, it is crucial to know how to accept credit card payments online.
There are several ways to accept credit card payments online. Few are simple, and few involve a small fee that is not obvious. Therefore, you must be careful when choosing from all available options.
Here in this blog, we will explain how to accept credit card payments online and over the phone. We will also discuss the fees that is involved in the process and how few of them might be convenient for you and the customers.
Therefore, once you have a detailed idea of the pros and cons of each method, you can select the best suitable way for your business to accept credit cards payment online.
Ways to Accept Credit Card Payments Online
First, be aware that you do not have to buy any special hardware to accept credit card payments online. However, you will need payment infrastructure for the process. The easiest way is to use any payment service provider that combines all the features that you need in one place. This includes a merchant account, payment processing, and a payment gateway.
Once you have selected the payment service provider, you can use several options to accept credit card payments online. Several payment service providers allow the account holders to receive payment through tailored checkout pages and direct payment links.
It is essential to remember that whatever choice you make, you will have to pay a small transaction fee to the card issuer. Hence, it is impossible to accept free online credit card payments.
The cost is included in the general fee when you avail yourself of services from payment service providers. The only difference is that you will not have to pay the card issuer separately. The payment service provider also charges their fees, so be considerate while you choose a transparent structure of payment.
Here are a few common ways to accept online credit card payments. Let’s have a look!
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Hosted Checkout Page:
The simplest and straightforward way to accept credit cards payment online is via hosted checkout pages. However, secure the website page before doing so, as your clients will enter their credit card information on the page.
Suppose the page is hosted by the payment service provider. You do not have to take any special precautions to secure the webpage.
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API Integration:
The second way to accept credit cards payment online is through API integration. The method works best if you are a developer and possess great coding experience.
In the method, you can use the payment service providers’ API – application programming interface to integrate directly with your website. It helps avail maximum benefits by the payment services providers without making any changes to your website.
If you have interest in API integration method, check all payment service providers applications and see which one offers you the favorite method. Few payment service providers offer both, i.e., ‘API integration’ and ‘no code option’.
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Direct Payment Links:
The third method on our list is ‘Direct Payment Links.’ Worry not if you do not have a website (although it’s good for any business). You can still accept credit card payments online via direct payment links.
The method involves generating an exclusive link that can be sent to the customer through text message or email. Once the customers click on it, they are directed to a customised checkout page to enter the payment details.
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Virtual Payment Terminal:
The next on our list is the ‘Virtual payment terminal’ method. If customers are not comfortable paying through a website or cannot access your site, you can offer them the option of using a virtual payment terminal. This will help them enter their credit card details. However, before using any method, make sure that it is completely private and secure.
Although the virtual payment method is not very effective or efficient for receiving online credit card payments, it can be used when the checkout pages or links are not working.
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Mobile Payments:
Mobile credit card payments or payments through digital wallets are also becoming quite popular these days. Using digital wallets, you can save the details of credit or debit cards once at a particular app and easily make payments every time by using mobile phones or other compatible devices.
Some popular digital wallet payment options are PayPal, Google Pay, and Apple Pay. PayPal charges transaction fees, while the other two do not.
Any person using a digital wallet is connected to a bank account, credit card or debit card. Digital wallets are excellent choices as you might not need to carry a wallet full of plastic cards, but they do not completely replace the need for these cards.
Conclusion
That’s all about how to accept credit card payments online & over the Mobile Phones. Remember that while using credit cards for online payment, only use secure and transparent web pages or payment service providers.
