Advantages Offered by Virtual Merchant Account Services
Many brick and mortar companies have a website but purely for information purposes – no selling online. On the other hand, virtual merchants have a website to perform both roles.
As with most web-based services, a virtual merchant account service minimizes the usual costs of operating an online business, giving you all the freedom you can expect from such type of enterprise.
There are lots of benefits to businesses that use a virtual merchant account service, such as an automatic global reach, a more streamlined customer service process, easy integration with your current system, and more.
Safety of Information
As an online business, ensuring secure transactions is one of the best ways you can establish credibility. Using a virtual merchant service is considerered the ideal solution as they will take care of all security processes, ensuring the protection of your customers’ payment details. This happens through through secured-socket layering (SSL) encryption, a technology that allows data to resist interception while in online transit; and a multi-level firewall, which safeguards any information that has been saved or will be saved in your virtual merchant account.
Simple Online Ordering Process
As an online customer, you’ll want to stick with online businesses that are easy to transact with. With certain website functionalities – for example, shopping carts, individual customer accounts, etc. – you will encourage people to come back and become a frequent customer. Nowadays, people always want to be efficient in what they do, and that includes shopping.
And that’s something you can give them through the mentioned features, which you can implement through either hosted or in-house sofware. If you decide to use a hosted solution, the virtual merchant service will manage your payment portal technicalities, provide customization, and let you use their databases and servers for your daily business needs.
If you go with an internal solution, you install the software in your own servers and simply integrate the merchant application into your your current website. Both have inherent benefits, but you can choose based on your specific needs.
Several virtual merchant services partner with both online and offline companies, but those that work mainly with online companies often offer more functionalities.
Such service providers will let you use virtual terminals so you can have a fully functional payment gateway for purchases made on your site, and your customers can have a seamless shopping experience.
Though virtual merchant account services are generally useful for any online business, not all providers are the same. Make sure you do your homework before deciding which provider to use. Read reviews about them, ask about their fees and look into their business history. The more you educate yourself about virtual merchant account service providers, the wiser your choice will be.