Mail order business payments
Traditionally payments for mail order services have been sent via cheque or postal order. These payment methods are now dated. Mail order businesses need to modernise their ways in order to maintain their profits and prevent any unnecessary losses.
What has happened to the cheque?
Banks no longer issue cheque guarantee cards in a bid to phase cheques out completely. According to The Payments Council by 2018 cheques are only likely to make up about 1% of payments from the UK population.
With the banks phasing out cheques they are not used as much anymore, their primary substitute is payment by debit or credit card. Card payments are a lot more secure and since Chip & PIN technology the amount of fraudulent transactions made with lost and stolen debit cards has fallen dramatically.
Virtual Card Terminal
Mail order businesses require a virtual terminal as customers are not present at the point of sale. The customer provides card details over the phone or by email then you are able to enter the details manually. Transactions are quick, easy and secure.
Modernising your mail order business to include web payments is an excellent way to ensure quick and easy transferring of funds. Sign up with an independent payment processor who can provide a payment gateway which ensures that you can take payments securely.