Every business operating in this current day and age must do so in an efficient and effective manner. A core component of this new era is the speed and convenience of payments. Further, it is crucial to be able to accept online payments. Not only is it a requirement for being up to date with the latest solutions, but it is also a matter of meeting customers’ demands and fulfilling their expectations.
That is why the total transaction value of digital payments in 2019 amounts to a whopping $4,137,523 million. With more and more integrated payment platform solutions coming to the forefront, this figure is likely to grow at an exponential pace.
If you have just started your business or want to set up virtual terminals for payment card processing for an older entity, the process may seem a bit daunting. But even if it sounds stressful, it isn’t impossible to understand. If you use the right kind of merchant services, you can start accepting your online payments in no time.
The First Step: Find an Integrated Payment Solution
To start accepting online payments without any hassles, your best bet is to turn towards an integrated payment platform. This will give you the ability to process and automatically sync credit cards, debit cards, and ACH electronic check transactions. Thankfully, specialized entities provide these integrated payment platform solutions and make the process simple.
Built with scalability in mind, these virtual terminals for payment card processing can help you accept online payments in no time. But they do not stop there. Depending on the kind of payment technology you select, you can also accept an array of other digital payments. These include but are not limited to PayPal and bank account payments.
If you select an integrated payment solution, you can also set up your brick-and-mortar store payments with it. This way, you can see all your revenues and incoming transactions in one place.
The Second Step: Making Comparisons
You may have seen it firsthand. Your customers shop around for details at other vendors all the time before going with what you have to offer. Similarly, you need to make proper comparisons between integrated payment platform services before selecting one for your business.
Here, you will need to keep some key factors in mind. These aspects include but are not limited to:
- Functionality. Check what kind of features the solution offers you.
- Ease of Use. Ensure how easy it is going to be for your employees to learn and use the solution.
- Variability. Check if the provider is only offering virtual terminals for payment card processing or if you can accept more payment methods.
- Cost. Compare costs between other providers to make sure you are paying competitive prices.
The Third Step: Setting Up Your Payment Solution
Now that you have made your decision about which Payment Solutions Provider to go with, it’s time to set it all up.
Some integrated payment platform providers ensure to make the onboarding process as smooth as possible. Make sure that you are going with a solution that doesn’t only provide you with an easy setup, but also goes on to offer long-term ease of use.
As a rule of thumb, always keep in touch with the provider while setting up virtual terminals for payment card processing. This aspect allows you to ask questions and get relevant answers during and after the setup phase to avoid any potential issues.
At Stax, we make it quick and easy for businesses to accept credit card payments in-person, online, and on the go. Through our best-in-class, integrated solutions, Stax gives your business the ability to accept payments anytime, anywhere across Apple or Android applications.
If you are currently in the process of finding an online payment solution, reach out to Stax today. Our Payment Consultants will be glad to answer any questions you may have and help you find a solution that’s a perfect fit for you.
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Stax is a smart, all-in-one solution for businesses that take payments online or over the phone. With simple invoicing, recurring charges, and online bill pay, you’ll get paid faster with Stax. Fill out the form to schedule a consultation for your business.