Merchants choose payment tools, do you take into account these two situations, do not be careless

Mar 10 - 2022

Merchants choose payment tools, do you take into account these two situations, do not be careless

Losing the right to get paid quickly

An online merchant opens her business and starts selling. At first everything seems to be fine, but global payments credit card processing then the payment service provider suddenly notifies the merchant that suspicious activity needs to be investigated and her account will be frozen for a few weeks.

At the same time, the merchant's bills started piling up, but she couldn't pay them with her own account funds.

Most online merchants are unaware that their payment service has a policy of freezing all funds they receive for several business days after a customer completes a payment.

The merchant must immediately send the product to the customer, although it will take a few days for the merchant to see the money charged to his account.

In the early days of people using online payment methods, such freezes were more common, but now it is usually a simple process to clear transactions that could trigger anti-fraud monitoring by the payment service provider, such as unusual transactions, cross-border sales or sudden spikes in sales volume.

Any time we are unable to make a customer payment withdrawal can cause problems for your business and your own growth, find your own payment service provider that allows you to make the fastest possible withdrawals from your online sales.

No Payment Options Available to Customers

Today's customers expect more options, and the more payment options you offer, the greater the chance of a successful sale. Despite the availability of secure payment processing agreements.

Some customers are still reluctant to use credit cards online, and for others, they will give up shopping if they don't offer preferred payment options.

Offering other trusted payment options besides credit cards can help you attract more customers, reduce shopping cart scrap rates, and ultimately increase sales.

By:Carrie