Online credit card processing for small business means enabling retail payments through the internet. This makes shopping incredibly efficient and is a good way for a business venture to grow. In South Africa many small businesses either do not offer online credit card processing or they do not handle their own online payments.
Our tips for a small business to start credit card processing
- Set up a credit card processing system on your business website
- What to look for in a processing system
- Payment Express (Now Windcave)
- Virtual Card Services
There are companies (like Etsy and eBay) who handle many outsourced retail goods for companies. However, it’s simple enough to set up your own credit card processing system on your small business website. In addition the growth in your business will be worth the small amount of processing payments you will have to make.
This may also interest you: Easiest Way for Small Business to Accept Credit Cards
Setting up an Online Credit Card Processing System on your Website
Firstly, you will need to set up a store and shopping cart system like Shopify or Volusion. Or if you are using WordPress then Woocommerce is a good one.
After that you can contact a bank or online payment service. Who will allow your customers to pay for their goods directly through the internet for a small processing fee.
The company will then take one of the following routes:
- They will stream your sites customers directly from their shopping cart on your website to a secure payment system on their site
- Or they will embed their sites payment button onto your website
The company you choose will undoubtedly offer tech support and assistance. However you could also contact a professional web designer to help with the setup.
What to Look for in an Online Credit Card Processing System
So customers want your website to be three things:
- Consistent in that payments are made and accepted the same way every time
- Versatile in that all payments are accepted from anywhere at any time
- Safe in that the customer’s money and your own is secure at all times
What you will have to pay
There are several costs associated with a system like this.
These costs include:
- Gateway fees
- Statement fees
- A percentage fee per transaction
Payment Express (Now Windcave)
Payment Express is a payment processing company. It is a Visa and Mastercard solution which facilitates payments from a range of different points. Including wireless, vending, CRM, MOTO (Mail Order/Telephone Order), web, EFTPOS, IVR (Interactive Voice Response) and billing.
Payment Express allows payments from many different cards including Visa, Mastercard, Diners Club, Discover, JCB, Maestro and more. They operate successfully in the USA, United Kingdom, India, Malaysia, Singapore, Hong Kong, Australia, New Zealand, the Pacific Islands and South Africa.
To contact them, simply go to their website and fill in an online questionnaire. Detailing your business, your needs and what you are looking for. They will contact you to discuss your options and what they can do for you.
Virtual Card Services
Virtual Card Services is a credit card payment processing company that was established in 1996. This company offers automated, high volume, secure credit card processing.
Virtual Card Services works with several well known financial service providers. Including ABSA, First National Bank, Nedbank and Standard Bank. And accepts payments from many cards including Mastercard and Visa.
Virtual Card Services has also in been verified by Mastercard, Visa, PASA, AS (Association of System Operators) and ATM Solutions.
“The Virtual Vendor” was one of Virtual Card Services’ first card payment processing systems. Because it catered for businesses who wanted to work within a financial service providers system. But needed automated, electronic transaction systems.
Today Virtual Card Services has a large base of happy and satisfied customers from all over the country. The company is based in Midrand, Gauteng and you can contact them via email, telephone or through their website.
Going through a company that enables you to host and design your own retail system on your website is a good idea. Because it will help your business grow from strength to strength.