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About Schmidt Ventures Online
Some clients may only have an online store while others may have an actual brick and mortar location as well. Processing payments online brings an entire new world of variables to the table that do not exist in the non-virtual world. Retailers need to focus on the business at hand and working with a credible online merchant vendor gives one thing: peace of mind.
Processing an online payment from a customer requires that security be the top priority. When a payment is processed via an online merchant vendor there are a lot of actions going on in the background to ensure safety and efficiency. The first level is encryption of the customer information. The data is transmitted and then the information is validated as a credible card. Name and address is confirmed to ensure that the credit card information matches and the number is matched to make sure that it is not a stolen card/data. This process is accomplished using state of the art software and occurs in nanoseconds so that the transaction is confirmed.
Typically when a retailer processes a payment via an online merchant vendor, once the payment is confirmed as valid, the dollars are deposited into a prearranged retailer account. This allows the retailer to make use of the account for tracking and accounting purposes, but more importantly it is a confirmed method to view the status of income/profit.
It would be almost impossible for the average online or brick and mortar retailer to try to accomplish each of the steps of validation on their own as they do not have access to the vast up-to-the-minute reporting data to match credit cards and typically do not have the ability to set up safety net of encryption. The cost in hours and programming would offset any profits and would simply not be cost effective in any realm of ROI.
Taking advantage of an online merchant vendor to accomplish all of the levels to ensure a safe and efficient payment has an associated cost that is minimal compared to the amount of work that is done in just a matter of seconds.
Processing an online payment from a customer requires that security be the top priority. When a payment is processed via an online merchant vendor there are a lot of actions going on in the background to ensure safety and efficiency. The first level is encryption of the customer information. The data is transmitted and then the information is validated as a credible card. Name and address is confirmed to ensure that the credit card information matches and the number is matched to make sure that it is not a stolen card/data. This process is accomplished using state of the art software and occurs in nanoseconds so that the transaction is confirmed.
Typically when a retailer processes a payment via an online merchant vendor, once the payment is confirmed as valid, the dollars are deposited into a prearranged retailer account. This allows the retailer to make use of the account for tracking and accounting purposes, but more importantly it is a confirmed method to view the status of income/profit.
It would be almost impossible for the average online or brick and mortar retailer to try to accomplish each of the steps of validation on their own as they do not have access to the vast up-to-the-minute reporting data to match credit cards and typically do not have the ability to set up safety net of encryption. The cost in hours and programming would offset any profits and would simply not be cost effective in any realm of ROI.
Taking advantage of an online merchant vendor to accomplish all of the levels to ensure a safe and efficient payment has an associated cost that is minimal compared to the amount of work that is done in just a matter of seconds.
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