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Showing posts from October, 2008

The Benefits of Electronic Payments for B2B Transactions

In the digital age, businesses are increasingly moving away from traditional payment methods such as checks and cash, and adopting electronic payment methods for B2B transactions. Electronic payments offer numerous advantages over traditional payment methods, making them an ideal choice for businesses looking to streamline their payment processes and improve cash flow. What are the benefits of electronic payments for B2B transactions? Faster payment processing Electronic payments are processed much faster than traditional payment methods. With electronic payments, the payment is transferred directly from the payer's bank account to the payee's account, eliminating the need for physical checks or cash. This significantly reduces payment processing time, allowing businesses to receive payments faster and improve cash flow. Increased convenience Electronic payments offer increased convenience for both the payer and the payee. With electronic payments, businesses can make and recei

Accepting ACH or Check Transactions

ACH transactions have been around a long time. 75 million Americans use checks instead of credit cards, and with the advent of the web and ecommerce they are easier than ever to use. ACH transaction fees are often much lower than credit cards so it makes sense that you should offer this option of payment to your customers. Payments Gateway Most payment gateways will allow you to send over a ACH or Check transaction. This can be done from your website or customized software. The gateway will return an Approved or Declined message similar to a credit card. Checks by phone Checks ( ACH ) can be collected by phone using a Virtual Terminal. The Virtual Terminal will allow you to login to a website and enter the check Transit Routing Number or TRN and the account number along with the customer information. Checks by phone or using the Virtual Terminal to perform check transactions allows you to get up and running very quickly. All you need is an internet connection. Accept Checks Onli

Accepting Credit Cards

So your customers are complaining that you don't accept credit cards. What do you do? Well you can accept cash only, or break down and get a merchant account. A merchant account will allow you to accept all major credit cards MasterCard, Visa, American Express and Discover. The first thing the merchant account provider will ask is what kind of business are you doing. They are usually broken down in to three major categories. ecommerce and internet, retail, mail order telephone (moto). Depending on what type of business your doing and how your doing it will affect the prices you receive. eCommerce and Internet When doing e-Commerce type transactions you'll need a Virtual Terminal and a Payment Gateway. These should be included in your merchant account. The Virtual Terminal is like a credit card machine but for the web. The payment gateway allows you to perform transactions on your website. Retail Credit Card Processing Normally for businesses with a POS terminal. The