As a part of a digital age, there are certain things that have become absolutely necessary when owning and/or running a business. Proper marketing tactics, keeping up with the technology trends, using social media to your advantage to engage your customers and many other things. Something that doesn’t get talked about that much is something that’s typically considered a staple, but I think it warrants some further thought: Accepting credit cards online.

Businesses need to be able to accept credit cards as a form of payment from their customers. By accepting credit cards, small businesses are making it more convenient and easier for customers to make larger purchases. This is especially true online where cash is not an option and consumers are weary about using bank account information when making a purchase.

Real Time Vs. Deferred Credit Card Processing

You will need to carefully consider whether you want to set up real-time or deferred processing. There are advantages to each option, depending on your business needs. Real time processing enables your customers’ cards to be accepted or denied immediately. With deferred processing, the order is sent to your business first so that you can process the order. The greatest benefit of real-time processing lies in the customers’ instantaneous results. This is particularly important if you are in the business of selling goods and services that are delivered quickly, like information or software packages. And, real-time processing provides the ability to automate certain business operations so that you can free yourself or your employees to focus on other jobs.

Benefits of Deferred Credit Card Processing

Deferred credit card processing, also called offline sales, may be the best credit card acceptance system for your business if you don’t offer your products online. With deferred processing, your orders can be manually examined to fix any erroneous information before shipping them to your customers. If you are in the business of shipping products to foreign countries, and you discover that the network of the credit card issuer is experiencing problems due to time zone differences or other difficulties, you will have the ability to call in and approve the transactions rather than decline them. Real-time processing does not allow for this option.

The beauty of accepting cards online now, is that you have providers that can help you with all of the details so all you have to do is set up an account. Like WePay. All major forms of credit cards are accepted, so all you have to do is have an account to make sure the money gets to you safely. They handle the rest. This is much different – and way easier – than back in the days when you had to authorize your own method of credit card acceptance.

Bottom line, if you’re not using some form of accepting plastic over the internet, you’re seriously hindering your company’s progress. People want things fast, they want it now, and they want it easy. So why deny them that? It’s going to end up making you more money in the long run. So, if you don’t have anything set up; get off your butt and get moving!