Some merchant account providers will charge you a fee for every charge back you incur. If your business typically receives a disproportionately high amount of charge backs, then charge back fees can hit you hard.
Another important aspect while selecting your service provider is the kind of Customer Service it provides. Communication is critical. Make sure your merchant account provider has the customer care platform to swiftly and reliably answer questions and resolve problems.
Remember, rates and fees are simply a part of the big picture. Getting a wider perspective on initially intangible items like sensible policies and superior customer service is essential in choosing the best provider for your unique business needs. Look for the details that distinguish one provider from the next.
Security Certification and Encryption
As discussed earlier, the most vital aspect of a sound payment processing system is security and authentication of all transactions on your website. A customer needs to have complete faith in the security infrastructure of your payment processing system.
The most trusted technology for ensuring a highly secure transaction is by implementing Digital signatures via web server certificates that enable authentication and SSL (Secure Sockets Layer) encryption. SSL web server certificates lead to a secure online payment management system, to allow your e-commerce web site to securely and automatically accept, process, and manage payments online. SSL comes in two strengths, 40-bit and 128-bit. 128-bit SSL encryption is the world's strongest form of commercial encryption, and hence the safest. Your customers should be very comfortable with a 128-bit SSL encryption. The 128-bit SSL encryption is what all payment processing companies make use of these days.
SSL server certificates fulfill two necessary functions to establish trust for online payment:
SSL server authentication -- Server certificates allow customers to confirm a web server's identity.
SSL encryption -- SSL server certificates establish a secure channel that encrypts all information sent between a customer’s web browser and your web server, protecting private information from interception over the Internet.
Only after you have built a web site and implemented SSL certificates to authenticate your business to customers and encrypt communications and transactions, you can address other crucial components of the payment processing system: enabling customers to easily pay for products and services online, and processing and managing those payments in conjunction with a complex network of financial institutions.
Testing, testing, testing
You have designed a very usable web site, you have hosted it using a very reliable web hosting company, and you have integrated a safe and trusted payment processing system with your website. However, all these can prove to be useless until you know your site is actually working and accessible. If you want to create an accessible website, you will need to test, test and test again.
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