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Payment Processing

When it comes to processing your orders, there are many choices of which only two are discussed below. You can either take orders online and process them offline, or use a Commerce Service Provider for real-time order authorisation and fulfilment.

Each of these options has its advantages and disadvantages. Therefore consider the needs of your company and make the choice that's right for you.

Offline Payment Processing

Starting out with e-commerce, the simplest and cheapest solution is to take orders online and process them offline. If credit card information is involved or privacy is a concern, order information should be encrypted before being saved or sent to you by e-mail. After decrypting the information, you can process the order and payment offline.

Payment processing can take various forms - credit card processing probably being the most convenient (and most costly) option. If you decide to accept credit cards, you'll need to get an merchant account with your bank. Banks generally charge % per transaction plus a fixed monthly fee. A minimum monthly transaction turnover of is typically required.

In some business sectors accepting cheques or direct money transfers may be a better option, e.g. expensive goods with low margins.

Real-time order processing

A Commerce Service Provider (CSP) provide real-time authentication of payments and moving of funds from the customers account to your merchant account. The normal transaction fee charged by the bank still applies with the CSP adding a small charge. Typical solutions offered by CSPs are given below.

SETcom

Offers the widest range of services to optionally link with your merchant account. Options include:
  • Use their shopping cart software and checkout page. This option does not require you to have your own secure web server.
  • Use your own shopping card and secure checkout page and link to their payment processing server. For this option, you need to use your own shopping cart software on a secure web server.
Implementation of the system is a simple procedure, even for inexperienced web developers. Signup and monthly fees vary depending on the service option chosen.

Worldpay

Offers secure online payment processing in multiple currencies. The service does not require your have a merchant account with a bank. Instead, payments processed through WorldPay is simply transferred to your normal bank account at regular intervals. Options include:
  • Virtual terminal and/or real-time payment processing directly from your web site.
  • Multiply currencies, e.g. process payment is US Dollar, Pound and Rand.
Secure collection of an order on your web site will not necessaily require a secure web server.

For signup and annual fees, visit the WorldPay web site.




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