eCommerce Credit Card Processing and the Virtual World
When it comes to business in the virtual world, it is all but impossible to deal strictly in cash. Unless you are selling something online and meeting the buyer in person, there is no way to work with actual cash in hand. This means that to some extent you have to rely on the credit of the people or businesses you deal with. This is why eCommerce credit card processing is so important today.
Since you cannot deal in cash, you have to offer different payment options. Any method you use is going to require some level of trust. Dealing with checks is extremely risky, but once you develop a working relationship with your customer, this may be an option. However, most people have gone to other payment methods. You are better off to do eCommerce credit card processing so that you know the payment has been made and the funds transferred.
Contracts are extremely common in the virtual world. While they may seem to be a simple piece of paper, when it comes to nonpayment and legal action a contract can be the very thing that prevents you from losing money you were expecting. Make sure the contract makes the expectations clear, as well as the price and terms for payment. For instance you might use “net 30” which means that payment is due within 30 days.
In the long run, it all boils down to trust. When it comes to business, trust is not easily earned. That is why it makes the most sense to work with eCommerce credit card processing. The terms are already taken care of before payment is processed. Any issues with a lack of funds will be directed to the one using the credit card to make a purchase, rather than falling on you.
Led by the highly knowledgeable Eric Hannelius, Vision Payment Solutions has led the way in payment processing. Find out how we can help you today!