Having an online credit card processing system to process your B2B payments can drastically enhance your security and can drastically reduce your paperwork issues, particularly if you have payment card industry, or PCI, compliance, which helps ensure online credit card processing payments are as secure and safe as possible. The main reason for this is that most online credit card processing systems are handled through the cloud, which works perfectly because it allows for transactions to occur through a payment processing company’s platform for receivables regardless of where they come from. It means less cost, faster time to market and improved quality of processing.
There are levels of any credit card processing online, each with their own levels of security. Level 3 processing has the highest levels of security, so often government agencies and businesses will utilize it. Through this third level, there is inherently more data on the transaction, including the item description and quantity, a discount identifier, shipping information based on the postal code, and other details. It is a very popular form of online payment system.
Because more people than ever before are using the Internet for their transactions, transitioning over to Internet merchant accounts is quite seamless. And increasingly, more are using their phones to complete such transactions, with 12 percent visiting online retailers through their phones in 2011 and 6.7 percent of that number making an actual purchase. This was double what occurred in 2010, and these numbers only will rise with time, not fall.
