Accepting Online Credit Cards

If you’ve been following the latest credit card trends, you’ve probably heard about the emergence of Near Field Communication (NFC) payments. NFC is a technology that sends information such as text messages and credit card data wirelessly over a short range and is also behind today’s fastest-growing payment system: mobile payments.

Such systems can be a convenient way to process payments anywhere, anytime: at point of sale, online, or on your cell phone while in transit. But there are some complexities involved with accepting online credit cards which should be considered before implementing a system like this into your business:

1) The upfront cost to purchase hardware and software like NFC-enabled readers can be costly.

2) Hardware such as terminals and readers must be installed, managed and supported in-house. That’s a lot of maintenance.

3) Merchants must purchase both hardware and software at the same time to ensure compatibility.

4) Since terminals send a small amount of data over a short range that can only be interpreted by the terminal, merchants have limited options for receiving payments on their end (unless they implement payment capture into their software).

5) Manufacturing and implementing new applications can lead to costly integration issues that many merchants aren’t ready to solve when they are just starting out or making the transition from paper check processing to online processing.

6) Having mobile payments requires you to install a payment capture system that is compatible with your POS software. This can be an added expense to your business and more software does not always lead to better efficiency.

Nowadays, it’s becoming increasingly popular for businesses of all sizes to accept online payments. Whether this is because of the convenience factor or cost savings, online processing has become an essential part of our economy. The lack of affordable hardware and software options makes it difficult for small businesses to choose the right payment solution as they transition from a paper-based check charging system or manual credit card processing system into the world of online credit card processing . . . Enter Zuora.

Zuora is revolutionizing online processing by providing a mobile-friendly payment solution that allows merchant services providers to accept online payments from their clients via cellular network connections. By accepting credit card payments over websites, mobile devices, or by sending text messages, Zuora can significantly increase the convenience and efficiency of accepting credit card transactions. It also allows merchant services providers to make more money by providing them with many new online payment options which not only benefit the business by increasing sales, but also the customer who enjoys the ease of “one-click” purchasing.

We like to say that Zuora is a payment gateway for mobile payments. It enables merchants to be able to accept credit cards from their clients no matter where they are or what type of device they are on (computer, smartphone or tablet). The technology connects directly with your website via an app that can be installed in any web browser. This eliminates the need for partnerships between hardware makers and software providers, as well as maintaining expensive terminal equipment and expensive live support personnel.

There are two ways to accept payments from your clients: (1) They can pay you in full from their computer or mobile device when they are shopping or making a purchase. The website they visit is responsible for the payment system. (2) They can use text messaging to pay you by sending the minimum payment of $0.05 via their mobile phone number, which sends a text message containing the credit card number and amount to your bank account each month, with an option to turn off this payment option at any time. You have full control over these transactions and can view all of them on your account page in Zuora.

Zuora offers free, hosted or virtual private servers that can easily be deployed within minutes. Merchants can start by accepting payments with a few clicks and easily implement additional features and tools as they grow. The ability to add features on-the-fly is invaluable because it lets you focus on what matters most to your business, which is increasing your revenue stream.

Now that you’ve made the decision to accept online credit cards, Zuora will take the guesswork out of choosing a payment solution by providing a free, comprehensive payment gateway that seamlessly integrates with your current online processing system. And because it’s cloud-based, there’s no need for upfront investments in hardware or software. It’s easy to reduce or eliminate the need for complicated integration issues by allowing your staff to use their existing software. And since it’s hosted on an industry-standard infrastructure, there are a wealth of online payment processing tools available for you to choose from.

Converting your paper-based credit card processing system into an online one can be a daunting task, so we think that it’s best to start with a free trial and compare what Zuora can do for your business from there. We’re confident that you won’t regret it.

To your success . . .

Zuora Publications

B2B e-Commerce Success Stories

Over 200+ e-Commerce Success Stories from the field focusing on strategies, tactics, and the tools needed to succeed. With case studies from established companies such as Cisco Systems, QuickBooks, Amazon and Amway, as well as smaller companies like FreshBooks and iContact. This book gives you the information you need to succeed in today's business world.

http://zuora.com/success-stories/

Zuora Marketing Resources

Zuora Blog: Zuora is blogging about trends, tools, best practices and customer success stories. You can also read and interact with the Zuora team on our blog: http://blog.zuora.com

Twitter: Zuora is now Tweeting about what’s happening in e-Commerce. Follow us @zuora for the latest marketing updates from the team at ZUORA. Check out our Twitter feed to keep up with what’s happening in e-Commerce today! http://twitter.com/zuora

YouTube: Zuora is now on YouTube! We are uploading videos, highlighting new features and making them available on the Zuora channel. Be sure to subscribe in order to stay up to date with the latest information from ZUORA. http://www.youtube.com/zuora

LinkedIn: Zuora is now also on LinkedIn! Follow us at http://www.linkedin.com/company/zuora and visit our page (http://www.linkedin.com/company-beta-profile?view=profile&trk=nav_responsive_tab_cont&id=18978049).

Conclusion

We hope you enjoyed this book! If you’re interested in the future of e-Commerce, and want to be kept up-to-date on all of the latest news about Zuora and the solutions we offer, please consider subscribing to our blog. We'll be posting lots of new information there on a regular basis.

http://blog.zuora.com/

Table of Contents

1 Online Payment Solutions 1.1 Introduction 1.2 Zuora Overview 1.3 Business Model 1.4 Business Challenges with Online Credit Card Processing

2 Payment Gateway Services 2.1 Types of Gateway Services 2.