Behind the splash page of every e‑commerce company's Web site, software from payment processing service providers manages the money. To maintain healthy profit margins, e‑commerce vendors must rely on their service providers to keep interchange rates low and prevent chargebacks. As e‑commerce continues to grow, the market is expanding for payment processors.
According to industry operator, Litle & Company, vendors should consider at least seven key factors when they review payment processing systems. These include:
- Choosing the platform that works best for the company
- Choosing a platform that allows for alternative and, if necessary, international, payments
- Choosing a vendor that will act as a business partner with an understanding of the specific industry
Read the rest of Litle's suggestions and share this data with your payment processing vendors. Is it time to write new bullet points for the e‑mail marketing campaign they plan to launch this spring?[Source: Litle & Co. Shares Seven Payment Processing Laws for Merchants, PaymentsNews, February 2009]