Accepting Payments Online Quickly and Affordably

One of the challenges that an online business faces is accepting payment from different customers, which is becoming more and more commonplace as time passes. Smartphone adoption rates are encouraging more people to get on the digital wallet trend, and that’s pushing retailers and websites to catch up. The trouble comes with online merchant services, which impose restrictions and fees on certain services.

Accepting payments quickly, safely and affordably is a major priority for businesses owners in this new economy.


The basic concept you want to keep in mind regarding rates is that flat fees aren’t always the best option. They do offer some value, but if you plan to do a great deal of business, then you’ll most likely lose money on some transactions. Online credit card processing with variable rates charge based on the card or transaction, so accepting a credit card payment and a transfer may carry two different rates. If you use a flat fee, and that transfer is .05% less on an interchange fee, you just lost .05% on your deal. Over time, those losses will add up.

Transfer Time

Another thing to keep in mind is that it takes time to accept credit cards and see the money in your account, even if the process appears like it shouldn’t. There is encryption going on behind the scenes, and it can take time to anonymously move money from one bank to another. If you can, try and ask customer service about the average time to process payments with your processor of choice.