The Digital Payment Processing Innovations That Are Changing The Future Of Payments
The customers are more likely to pay using the debit cards, credit cards, e-wallets, ach payment processing for the goods and services they purchase either through a retail store or from an e-commerce website and this is also beneficial for a business to accept eCommerce credit card processing. As it helps to gain more customers and as per experts analysis customers tend to purchase a lot more than they tend to purchase with the benefit of digital credit card payment system, debit card or any other contactless method of digital payments. As the development in advanced technology and payment methods, the whole world is switching from cash payments to digital payment processing method for payments because they provide a more convenient and reliable environment for payment. The rapid increase of growth in smartphones, contactless payments, internet banking is keeping on making a digital change in the method of fund transferring.
A History From Where All The Digital Payment Processing Started
The digital payment processing started from the roots in the era of the 1870s, where first electronic fund transfer was initiated. This encouraged the buyers and sellers to attract towards the digital method of payment to send or receive funds without being physically present for the goods and services they trade.
Initially, the digital payments were very adapted by the method of the telegraph to transfer money to very few business partners during the timeline from the era of 1870s to 1960s.
In 1959, the first plastic card to transfer money with the help of digital payment processing was introduced. Later on, ACH (auto clearing house) method was introduced in 1972, which is able to process the large batch volumes of transactions. Thanks to Internet banking services offered by banks during the 1990s, which helped the individual to purchase the goods and services from e-commerce websites through the online payment method.
Benefits Of Digital Payment Processing
The digital payment processing provides several benefits to the customers because of the digital platform, and a customer gets various methods to pay online to the business merchants. That’s why nowadays, most of the consumers are more interested in paying using debit cards payments, third party credit card processing payments, echeck services payments, and now even with a digital cryptocurrency like bitcoin payment merchant. Customers also tend to feel safe using digital payments with handled by the third-party processors where an individual doesn’t have to provide their sensitive credit card information every time with the business merchants as they are fed into the high risk credit card processing application, which provides them with an additional layer of protection.
How To Select The Best Processor To Accept The Digital Payment Processing For Your Business?
When you are searching for a digital goods payment processor to support you with digital payment processing facility, so that you can attract more customers and sales so that you can gain more profits from your business, you may find a lot of processors industry. But you have to select the processor which suits best according to your business needs.
For example, if you just started a small business or running a retail store, then you will need a processor like Quadrapay who provides inventory management facility with the e-commerce merchant account. So that you can manage you ensure you always have the demanding products in the inventory while doing your billing for your valuable customers.
Quadrapay has all the solutions for the best credit card merchant for small business to enterprise digital goods payment processing with the team of experts in the industry of merchant account services. Especially for e-commerce and small business, we provide ease of the merchant account application process. You just have to fill the form with the required information and submit the documents to complete your verification process. After the approval of your e-commerce merchant account, you can take the benefits of extra features provided with the merchant account like:
- PCI DSS secured digital goods payment gateway
- Faster processing of payments
- Low processing fee for the transactions
- Chargeback alerts facility
- Dashboard facility where you can easily monitor and manage your orders and transactions
- 24*7 Customer service and support team to assist you whenever you need
If you are still stuck in something or need further assistance regarding digital payment processing, we are always available at [email protected].