Many traditional businesses rely on outdated forms of payment. Staying competitive in an ever-changing landscape of payment acceptance options means these companies need to adapt to allow for a broad range of payment options to keep customers returning. It can be challenging to find a processor familiar with the unique challenges of a Mail Order/Telephone Order, or MOTO, business. Whether your customers are across the street or on the other side of the world, the demand for fast and secure payment options is the same. Payment Savvy is skilled in helping MOTO businesses and will create a custom solution to meet your current needs and future goals.
EXPERIENCE A STREAMLINED PAYMENT PROCESS
From creating a solution precisely suited to your business model to seamless integration with your software, Payment Savvy will work towards optimizing all of your payment processes. Experience payments being deposited into your business checking account faster all while reducing your overall costs! From global organizations to local companies, we will help you start taking control of your payment acceptance.
Collecting credit card, debit card and ACH payment information in a Card Not Present, or CNP, environment is commonplace nowadays. With our Savvy suite of products and services, we’ll have your company processing on state-of-the-art gateway 24/7/365. On our platform expect to receive a merchant service geared towards a MOTO business’ needs:
- Secure Processing – Payment Savvy’s payment gateway is compliant with all of the latest security standards. There is no need to worry about your customer’s sensitive financial information going where it is not supposed to.
- Easily Accept Multiple Payment Options – In an increasingly cashless world, having an easy to navigate system to process credit and debit cards, as well as ACH payments means increased customer satisfaction. Multiple payment options mean more opportunities for your business to receive payment for goods or services.
- Recurring Bill Options –With Payment Savvy’s payment gateway your business can easily can set up weekly or monthly payments best suited to your customers’ needs.
Mail Order/Telephone Order businesses have a unique set of challenges when it comes to payment processing. If you are setting up a MOTO business, here are some essential tips from our Savvy Squad of experts:
- Set up your merchant account weeks before you will need it. We’ll have you approved fast, but when starting a new business, it’s imperative to allow yourself adequate time to ensure you have all policies and procedures in place before taking your first CNP payment either over the phone or through the mail.
- Your local bank is not an adequate payment solution for your business model. You will save both time and money working with a payment processor knowledgeable with the ins and outs of a MOTO business.
- Ensure your discount rate takes into account you are a Mail Order/Telephone Order business. Many merchants perceive themselves as a standard retail business. The prices and the structure of accepting payments in a Card Not Present environment are a bit different than that of a retail merchant, and it is critical to apply for the correct account for your business model.
MOTO MERCHANTS ARE UNIQUE
Payment Savvy is experienced with MOTO merchants and the environment required to process a CNP successfully. We will establish a payment acceptance solution for your company that you can trust.
Here is an easy to follow breakdown of how a MOTO payment is cycled through your merchant account:
- The customer calls or mails in payment for a product or service. The merchant then enters the authorized payment information into their software or payment gateway system.
- Payment Savvy’s gateway system instantly processes the payment for authorization.
- The cardholder’s issuing bank will provide an approval or decline code depending on whether or not the requested funds are available.
- An authorization code is sent back through payment system from the issuing bank to Payment Savvy’s gateway. Steps 1 – 4 happens in real-time and takes on average 3 to 15 seconds to complete.
- At the end of a business day, the merchant will settle all the payments run in a batch. This can be set up to happen automatically to reduce human error. Once a batch is closed, it typically takes about 48 hours for customer payments to be deposited in a merchant’s business bank account.
Our innovative merchant account solutions allow companies of all sizes to conduct mail order/telephone order payments quickly and securely. By offering multiple payment options to your customers, you will increase satisfaction and user experience. Payment Savvy is here to help you stay ahead of the competition with our first-rate product and service options. Talk to one of our MOTO payment specialists today to take the first steps towards running a successful operation. If you want to get paid, it’s time to be Savvy!!