After the advent of the internet, it was finally possible for almost anyone to start their own business without outlaying tons of money to cover start up costs. All one needs is an idea for an innovative product or service, the means to produce it, a computer, and an internet connection, right? Not quite. If an online based entrepreneur wants to get paid, and assuming he does, it is crucial that he offers customers some type of online payment system. An online payments system will allow the entrepreneur to perform credit card processing online.
If one has ever dreamed of starting their own business, and is confident with computers and the internet, there is no better time to than the present. In fact, on “Cyber Monday” of 2011, consumers spent almost 1.25 billion dollars online, which means that over 10.4 billion dollars of expenditures were made by online shoppers that November. This clearly shows how popular online shopping has become for consumers, and is the reason that so many online businesses thrive.
Of course, certain online entrepreneurs also serve other businesses, which requires B2b credit card processing. The processing of B2B payments must be done bit differently in order to meet the unique businesses related needs of business clients. Regardless if an online payment systems is geared toward consumers or businesses, a system that meets PCI compliance will guarantee online merchants and their customers that the online payment system is secure.
In addition to the speed and security offered by online payment processing is the availability of cloud based online payment processing. While cloud based payment processing offers all of the advantages of the best online payment systems, it also saves businesses time and money. This is possible because cloud based payment processing takes place via an integrated receivables management platform, which means that there is a faster turnaround time and overall higher quality of transaction processing. Ultimately, cloud based online payment systems creates a better experience all around for both online patrons and business owners, alike.