Did you know that shopping online is not the only part to e commerce. True, people shopping online for the next birthday present needed or what have you, but there is more to e commerce and credit card processing online.
E commerce includes a large business to business component, whereas online shopping refers generally to consumer purchases. One of the largest industries that uses e commerce is the travel industry. In fact, one third of e commerce transactions was generated by online flight and travel booking services in 2011.
The credit card processing online system has three distinct levels, with Level 3 processing providing the most detail about a transaction, including item description, item quantity, item discount identifier, ship from postal code, and more. These Level 3 credit card transactions involve usually either corporate credit cards or government issued cards.
Online payment services allow businesses and customers to exchange money electronically, in a secure fashion. Credit card processing online does not have to only pertain to the retail customers buying clothes, but can also include the other chunk of e commerce. That is, business to business or B2b credit card processing.
Credit card processing online is a great avenue for both personal and business accounts. If you were the latter, then there are services out there that have features that include a virtual terminal, credit card storage, recurring billing, electronic invoicing, and custom reporting options. Plus there is also the ability to quickly process the heavy Level 2 and Level 3 transactions for merchant accounts.
It would definitely be a good idea to open a credit card merchant account or even multiple internet merchant accounts. The future of e commerce will definitely have to do in large part to the advancements of credit card processing online. Good refereneces: www.arrowpayments.com