Payment services are the modern solution for merchants looking to expand their payment options. The ability to receive credit and ach payments can be achieved for a business of any size through a payment services provider. Many electronic markets including auction sites and wholesale sites offer a third-party payment service to meet the payment processing needs of e-commerce. The third-party payment service provides the necessary security and support to manage financial transactions quickly and efficiently.
Online Payment Services to Receive Money
Online payment services enable merchants to receive payment from several options based on the customer’s needs. Customers may choose to pay using a credit card, ach checking payment, gift card, or even apply for financing options. The cost to receive payment as a merchant can vary and typically will involve a fee-per-payment pricing plan. Some payment service providers can also offer fully functional website tools including shopping carts and shipping screens. For merchants with customer accounts that are billed monthly, online services can include invoicing and pre-authorized monthly auto transactions.
Online Bill Payment Services to Send Money
Online bill payment services provide merchants a convenient and hassle free way to pay obligations and vendor invoices. Vendors may send invoices electronically to the merchant providing all of the invoices in an online searchable format for easy reporting purposes. Merchants can typically set their payment preferences to auto-pay invoices or pay on a scheduled date as selected. No paper checks or stamps are required to utilize this bill payment option and mostpayment services providers do not charge for this feature.
Online Payment Service Providers
Online payment service providers can offer many different plans and features to suit a business’s needs. A provider will typically begin with an application and approval process before creating a merchant account. After the approval, the payment service provider will work with the merchant to determine what features will best suit the business’s needs. Pricing plans will vary and may include a monthly service fee in addition to fee-per-payment pricing. Technical and professional support will work to quickly set up new merchant accounts and features. Ongoing customer support may be provided on site or by toll-free customer service phone numbers.