15 Reasons to Use an Online Payment Gateway for Your Business

Ray Limburg
Payment Gateway Advantages
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A secure payment gateway is the nucleus for a variety of inbound payment transaction methods.

If you’ve been wondering how to advance inbound payment transaction methods - or are already using a payment gateway with an online virtual terminal but may not be aware of its potential features - then a quick look at how a secure online payment gateway can help improve your business practices, efficiency, and cash flow is a must for keeping abreast of modern, helpful capabilities.

A secure, cloud-based payment gateway can be at the heart of all the inbound payment transactions for a company. Such gateways are capable of processing payment transactions by credit card, debit card, gift card, eCheck, or ACH bank transfer. In addition, there are multiple techniques available for supporting the payment transaction process, including: countertop terminals, point of sale systems, mobile phones, Wi-Fi-connected tablets, website links, and virtual terminals that run in the web browser program of a PC or laptop computer. In addition, an API or Application Program Interface, permits software applications such as ecommerce shopping carts, QuickBooks accounting programs, and other enterprise payment solutions to interface with payment gateways.

Although not all gateways offer the same features and capabilities, the advantages can be numerous and include:

  1. Relieve accounts receivable personnel from payment processing tasks.
  2. Reduce errors by permitting customers to conduct payment transactions by themselves.
  3. Expand payment acceptance hours to 24/7/365 with a secure website payment portal.
  4. Eliminate dealing with credit card payment transaction declines.
  5. Take advantage of Level 3 processing incentives for GSA SmartPay and purchase cards.
  6. Allow customers to pay their bills whenever it is convenient for them.
  7. Integrate a website payment button - giving customers easy access for paying bills.
  8. Process secure payment transactions with any mobile device or computer.
  9. Implement online payments for eCommerce initiatives.
  10. Improve data security by reducing the handling of credit card and bank account numbers by employees.
  11. Comply with PCI standards for data security.
  12. Improve cash flow by acquiring receivables more expeditiously.
  13. Interface with secure, cloud-based storage of cardholder data for repeat customers.
  14. Perform paperless bill collection by emailing a link for immediate payment action.
  15. Consolidate all payment transaction records in a secure, cloud-based environment.

Secure, online payment gateways are available from many merchant services providers who typically act as resellers of the gateway services. The merchant services provider can help business owners and accounting personnel understand which features are available from the gateways that they offer, as well as which payment processing platforms are supported by the gateway. With some gateways costing less than $10.00 per month, the utilization of a secure, online payment gateway can be a worthwhile, cost-effective measure for improving business processes and cash flow.

Process-Direct Merchant Services helps business owners and accounting personnel understand, evaluate, and implement cost-effective solutions for online payment gateways, website payment transactions, and merchant accounts for charge card, eCheck, and ACH payment processing.