What to expect from an Ecommerce business account?

“Remember, every ‘mistake’ your customer makes, it’s not because they’re stupid. It’s because your website sucks.” - Peep Laja, Founder of ConversionXL

If you are building an Ecommerce website, one of the things you should consider is setting up a merchant account. More than 75 percent of online transactions are supported by credit cards. For this reason, online shoppers expect Ecommerce sites to have a card processing facility. Without it, you will not be able to compete in the market. Many features are integrated into customer accounts. Although different service providers offer different software packages, many have similar features.

Here's what you can expect from a standard Ecommerce account

Set up your trading account

To qualify for a customer account, you must complete an application and provide your business details. As you apply for a credit account, you must be able to prove that your business is in good standing and has a good credit score. If everything is in order, it shouldn't take more than a few days for your account to be set up and approved. Once approved, you will receive a customer account number that will be referenced on all transactions you process. You can choose the type of customer account that suits your business needs.

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Shopping cart service

A shopping cart is a vital function of an Ecommerce website. It allows customers to browse your website and select different items they want to buy. You can check the items in your cart and pay for them all at once instead of buying each item individually. A good shopping cart should allow customers to track their purchases. Before paying for items, customers should remove everything from the car if they decide not to buy them. The shopping cart will also show the price of all purchases.

Financial registration and payment facilities

This is probably one of the most important features of a successful Ecommerce site. If it works well, you can count on customers returning to your website regularly to buy from you. Unfortunately, this is also an area where many websites fail. Checks are often left or bounced, and the customer is left wondering if the transaction went through or not. A good marketing service provider should have a system that makes payments easy and convenient. It will take 30 seconds or less to get the authorization code and confirm the transaction. Once the transaction is completed, confirmation of purchase and receipt should appear. This gives your customers a purchase receipt so they can track the delivery of their purchase.

The back end

Behind the scenes, a customer account makes credit card authorization easy. At the same time, it checks that all credit card details match what's on the customer's file. Most consumer accounts require you to verify the cardholder's name, the card's expiration date, and the CCV or credit card verification number printed on the back of the card. They can also request for the card's billing address details. All this information is scanned and analysed within seconds. This requires a powerful back-end system, constantly updated and high security. Immediately after approval is granted, an authorization code is linked with the business transaction. The next step in the process is to enable the transfer of funds from the customer's credit card account to your account. A sales representative will contact the customer's bank, withdraw the money, and confirm the transfer so that the money appears in your business account. This process can take between two and three days depending on your banking institution.

Security and fraud prevention

Your account manager should have up-to-date security certifications and fraud protection measures in place. Data stored on your system should be encrypted and stored in a secure format so that it cannot be easily accessed. If customer information is obtained and becomes public, you may lose valuable business. Customers won't be willing to do online shopping on a website that doesn't have enough security. Your account manager should help you keep your Ecommerce website secure.

Title/Topic - What to expect from an Ecommerce business account?

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