Electronic Payment Solution for Telephone Orders
With shopping online becoming more and more common, many people think
telephone orders are a thing of the past. But many companies still
offer this type of payment for their customers. If you want to take
orders over the phone, then you will need an electronic payment solution
for those telephone orders. Learn more about these payment solutions
and how they work.
Why Take Telephone Orders?
of credit card information is still an issue for many people shopping
online. Some customers just feel more secure giving that information
directly to another person over the phone. Also, in many service
industries, such as the hotel industry, it is still very commonplace to
take a reservation and credit card information from a customer on the
phone. If you don’t offer this type of payment to your customers, you
could lose a substantial amount of business to another company that
does. But to take that telephone order, you do need a way to process the
payment that is different from a typical card-present transaction.
How an Electronic Payment Works
you think of a telephone order, you’re probably not thinking about
electronic payments. However, even though you are taking the order over
the phone, you still need to process the credit card information
electronically to get the information to your merchant account provider.
Using a Virtual Terminal
you take credit card payments over the internet, then you may already
be familiar with a virtual terminal. A virtual terminal is computer
software that allows you to process credit card payments without having
to swipe the actual card. Once you’ve taken all of the information from
the customer, you then enter it into the virtual terminal. The virtual
terminal sends that information via an internet connection to your
merchant account provider. Because the card isn’t being swiped in these
types of electronic payments, they are also sometimes referred to as
Your Merchant Account
merchant account is always necessary for any type of credit card
processing, but if you already have one for card-present transactions,
you won’t necessarily be able to use that account for other electronic
transactions. Many merchant account providers treat the risk of
card-not-present transactions differently, therefore increasing some of
the fees involved. To get the best rates for all of your payment
solutions, be sure to compare various merchant account providers.
telephone orders are an important part of your business, then make sure
you have the right solution for processing those payments. A proper
virtual terminal and a good merchant account provider will make the
process easier for you and your company.