Does your business operate primarily online? Or do you have an online store in addition to your brick and mortar location? If so, you could be missing out on other customer bases or paying too high fees if you don’t have the right international payment processing company. What is a payment processing provider? These types of companies handle transactions made with credit and debit cards online. However, if you’re not accepting payments from other countries, you may be neglecting an entire demographic.
Many companies charge high fees for businesses looking for international payment processing. For instance, they may take 10-20% of a transaction’s charge. If you have a customer order a $50 item from your online shop, and the company you use for international charges takes 20%, then you’ve only made $37.50 from that sale. This sort of practice greatly affects small businesses around the globe!
Additionally, some online payment processing companies don’t allow transactions from all countries, or they charge extra when uncommon currencies pay. If you are looking for a company to handle your international payment processing, be sure to find a company that offers a full international currencies list to determine how much reach your online shop can have. Some companies offer over 100 different currencies that can be used when you receive payments.
Payment processors aren’t only useful for international transactions. All online transactions can be made easily and affordably with a great payment processing (or merchant services) company. If your shop has a physical location where you sell your goods and services, then having other features like mobile payment processing and high risk merchant services can also be a great advantage for your business.
Have questions about payment processing? Be sure to contact a payment processing provider as soon as possible to get started. Don’t forget to inquire about all fees as well. For general information, or to tell us about times you’ve used a payment processor, be sure to leave us a comment below. Find out more here: www.bnasmartpayment.com