Business.com |
| How to Accept Credit Card Payments Over the Phone Posted: 13 Oct 2019 05:30 AM PDT  Credit cards and debit cards have become ubiquitous. Almost everyone carries them, and fewer customers are paying cash than ever. For most businesses, accepting credit cards is imperative. Partnering with a credit card processor and setting up a card reader at the point of sale is often just another cost of doing business for entrepreneurs. But what happens when a customer wants to use their credit card outside the point of sale? Many businesses, from restaurants to retailers, take orders over the phone. It's generally thought of as an added service to boost customer satisfaction in an increasingly card-centric society. If you've ever wondered how to accept credit card payments over the phone, this guide can help. We will also walk you through the pros and cons of accepting credit cards over the phone and how you can best ensure your customers' data remains safe. How to accept credit card payments over the phoneAccepting credit cards over the phone is often important to boosting customer satisfaction. It offers your customers another way to pay that might be more convenient to them, helping you to drive sales. Luckily, there are several methods for accepting a customer's credit card over the phone.
It's important to note that accepting credit cards over the phone is less secure than accepting a card physically at the point of sale. To account for this higher risk of fraud, credit card processors generally charge higher rates and per-transaction fees for card-not-present transactions, including keying in card information over the phone.
Editor's note: Looking for a credit card processor for your business? Fill out the below questionnaire to have our vendor partners contact you with free information.
What does it cost to accept credit cards over the phone?Exactly what accepting cards over the phone will cost you depends on your credit card processor and the pricing model you select. For a breakdown of the common pricing models and how the rates apply to card-not-present transactions, see our best picks page for credit card processors. Generally, though, accepting credit cards over the phone is going to cost you more than accepting a physical card with a credit card reader. Most credit card processors charge 2% to 4% of a given transaction. With card-not-present transactions, that number is likely to be on the high end because of the increased risk of accepting a payment without a physical credit card. In addition, it is common for credit card processors to tack on a per-transaction fee to the percentage rate for higher-risk transactions like payments over the phone. Is it safe to pay over the phone with a credit card?When a customer pays with a credit or debit card over the phone, there is always the risk that the customer is not the authorized card user. It's this risk that leads credit card processors to hike rates on card-not-present transactions, including keyed-in card numbers accepted over the phone. To avoid fraudulent charges, you should take several extra steps to secure transactions over the phone.
While accepting credit cards over the phone is often convenient and sometimes necessary to keep customers happy, it does come with an added risk. Still, if you take the right steps, accepting payment by card over the phone can be a benefit to your business. Just be sure to follow best practices at all times to avoid engaging in fraudulent transactions. Can I take a credit card payment over the phone with PayPal?To accept credit card payments over the phone using PayPal, you will need a virtual terminal. PayPal's virtual terminal can be used on a mobile device or desktop, so long as you maintain internet access. When a customer calls in to place an order, you simply launch the virtual terminal on PayPal and key in the customer's credit card information, billing address and shipping address. Once you've filled out all the customer's information, you can complete the transaction and print a receipt, packing slip or shipping label. PayPal's virtual terminal costs $30 per month, with a transaction rate of 3.1% plus 30 cents per transaction. The virtual terminal subscription includes PayPal Payments Pro, which essentially allows you to turn your website into an e-commerce site, including shopping cart integrations. Online transactions through PayPal Payments Pro cost 2.9% plus 30 cents. Can I use Square for over-the-phone credit card processing?When using Square, you have the option to manually key in a customer's credit card information over the phone. First, download the Square Point of Sale app on an Android or iOS mobile device. When signing up, you can also elect to have a free magstripe card reader mailed to you or purchase an EMV-compliant card reader. Once your account is active, you can set up inventory and adjust pricing and tax settings accordingly, or you can manually enter the price of an item when a customer is ready to make a purchase. You can accept credit cards over the phone by simply keying in the customer's card number, expiration date and CSV code. Manually keying in customers' credit cards is significantly more expensive with Square, however. Swiped cards start at a flat rate of 2.6% plus 10 cents, while keyed-in cards cost 3.5% plus 15 cents per transaction. Accepting credit cards over the phone has its pros and consIn many cases, small businesses have no choice but to accept at least some credit cards over the phone. The modern customer seldom carries cash and, especially for delivery-based businesses, often expects to complete an order from the comfort of their own home. That means businesses are expected to accept payment over the phone, whether credit card processors charge more for the pleasure or not. Offering your customers the option to pay by card over the phone is good for business, but it also carries a significant risk of fraud. Implementing best practices and policies to ensure your business doesn't unknowingly engage in fraudulent transactions is an absolute must when you begin accepting cards over the phone. Always take down the customer's complete information, invest in a highly secure POS system and credit card reader, and always confirm the receipt of goods with the customer to establish a paper trail. In many cases, small business owners are caught in between customer demand and secure payment methods. In a perfect world, every transaction would be airtight. Unfortunately, customers expect your business to support their preferred payment method. To do so the right way, take the appropriate precautions and ensure your staff always adheres to the policies you've established. |
| How to Keep Customers on Your Site and Boost Sales Posted: 13 Oct 2019 05:00 AM PDT  Keeping customers on your website is essential for several reasons. The longer users engage with your content, the more likely they are to invest in your brand and move down the sales funnel. They can't turn into paying customers until they trust your business and believe it has something valuable to offer. Your business can't expand without customer loyalty, and, as such, it's crucial to create a user experience on your website that's smooth and efficient. Disruptions, lags, and confusing navigation are the easiest ways to skyrocket your bounce rate and lose conversions. If customers don't enjoy their time on your website, why would they come back? We're going to look at six ways to keep customers engaged on your website, including:
Let's dive in. 1. Use popup opt-insFor new visitors especially, it's harder to convince them to join your email list and engage with your content longer. It's crucial to do everything you can to pique visitors' interest and keep in contact to further your marketing efforts. Popup opt-ins are a great way to get their attention and convince them to subscribe to your email list. When users spend a certain amount of time on your website or scroll to a point on your webpage, they're hit with a popup opt-in asking them for their information. If you ever wondered how to capture the information of users who are about to abandon your website and skyrocket your bounce rate, exit intent popups are the way to go. When your site senses a visitor is about to exit your website, it triggers the opt-in to display. From there, users can decide if they want to hand over their information or continue on their way. Since it can boost your website conversions by 53%, a popup is worth considering to capture leads and reduce cart abandonment. 2. Increase site speedWe've all had the unfortunate experience of eagerly visiting a website only for it to take ages to load. Many people abandon the webpage. Attention spans are getting shorter, and for mobile users especially, it's important that content loads quickly. Any more than three seconds and users will exit your website, increasing your bounce rate and decreasing conversions. To enhance the user experience, improve your website speed. Compress big image files so they load alongside other content on your webpages. Tons of resources let you test your website's speed and tell you what you can do so it loads faster. 3. Improve customer supportFar too many websites make it difficult not only to reach the business but to receive customer support. Recent studies show that 79% of consumers would take their business to a competitor within a week because of poor customer service. You could have the best products on the market, but if you don't care about consumers' needs or solve their pain points, it doesn't matter. Customer service must be a core part of your business strategy. Without it, you have no way of collecting feedback and improving your brand's operations. If it's difficult for customers to receive support, it's time to implement stellar customer service practices that convince them to stay on your website. Use live chat to provide 24/7 accessibility to visitors. If you have an in-house customer service team, they can't tend to customers around the clock, why is why live chat is so useful. Live chat uses artificial intelligence technology to have conversations with visitors, answer their questions, and provide instant assistance. Because it offers convenience and helps users quickly, live chat support increases conversions as well as user engagement. You can track recurring issues and ask visitors how your business can improve so your business continues to grow. [Related article: The Best Chat Software of 2019] 4. Incorporate social proofWhen visitors browse your website for the first time, they're looking for cues that tell them your business is trustworthy. With so many options to choose from due to e-commerce, brands must work extra hard to convince new customers they're worth spending their dollars on. By incorporating social proof on your website, visitors can see that others love and trust your brand. Therefore, they should too. It also helps that 92% of customers trust recommendations from people they're familiar with, so positive talk about your brand goes a long way. Consumers today are less trusting about native advertising and what businesses themselves have to say. They'd rather hear from customers, clients and brands who have done business with you. You can use the following types of social proof on your website to keep visitors engaged:
5. Add videoIt's no secret that users love video content. The human brain processes visuals approximately 60,000 times faster than text, making it easier to consume and understand. Visual content breaks the monotony and gives users something interesting to look at, improving engagement and encouraging them to stay on your website longer. Incorporate video marketing into your conversion strategy. Grab users' attention by adding video content to your homepage, the most visited webpage on your site. If you can engage visitors the second they land on your homepage, you're guaranteed to keep them on your website where they can continue to explore. Consider how video can help you boost sales. Instead of using static images to display your products, use video demonstrations, since 64% of consumers buy a product after they watch a video about it. Potential customers can get a clearer look at your products and make an informed purchasing decision when they have videos to guide them. 6. Reduce frictionIf your website is difficult to navigate, you can bet your bounce rate will increase. When there are points of friction in your website's UX, it causes irritation and annoyance. Friction is anything that disrupts a user from having a smooth experience on your website and causes them to bounce. Around 80% of customers say the experience a company provides is just as important as its products and services, so it's crucial to pay attention to this aspect of your website. Shorten the steps it takes for visitors to go from discovery to purchase. The fewer actions they have to take, the better. Update your product descriptions so they're clear, detailed and informative. Create a FAQ page that answers visitors' most commonly asked questions so they don't have to contact you or search the internet for answers. Make your website mobile-friendly so those on mobile and tablet devices can easily scour your content. Simplify the checkout process so it doesn't feel like a task to purchase products. Avoid asking customers to fill out more information than necessary since 81% of users abandon a form after they start it. Over to youGetting customers to your website is one thing, but keeping them there is another story. You need to make sure your site answers their questions, leads them through the sales funnel and provides support. Otherwise, you'll see an increased bounce rate and a reduction in sales. How will you keep customers engaged on your website? |
| You are subscribed to email updates from Business.com. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment