International Credit Card Processing Issues
Below is a MRR and PLR article in category Internet Business -> subcategory Web Hosting.
International Credit Card Processing Challenges
Overview:
Deferred Processing
Deferred processing offers a cost-effective alternative to real-time credit card processing. Easier to implement, it does not require a secure gateway. Rest assured, the absence of a secure gateway doesn’t indicate a lack of safety. Most customers remain unaware of whether you use real-time or deferred processing.
Deferred processing allows for manual credit card transactions. Although lacking automation, it involves a meticulous manual approach. Handling numerous orders via a credit card terminal can become repetitive and error-prone, as mistyping numbers might lead to failed transactions.
How Deferred Processing Works:
1. Product Selection: Customers add items to their shopping cart.
2. Secure Connection: As customers enter payment details, their browser encrypts the data, ensuring security.
3. Order Completion: Customers finalize their orders and leave the vendor's site.
4. Vendor Processing: Later, vendors manually process the orders through a credit card terminal.
5. Feedback: The terminal informs vendors about the success or failure of transactions.
International Credit Card Processing
To safeguard against security breaches and fraud, avoid accepting international credit cards. Instead, consider alternatives like international money orders or wire transfers. Accepting international cards carries risks, primarily because address verification may not be possible. If a stolen card is used, the financial burden, including chargeback fees and shipping costs, falls on you.
Handling International Orders
Accepting international orders can significantly complicate your business operations. Apart from the payment concerns mentioned, international shipping is considerably more expensive than domestic shipping. These orders require added effort, increasing costs and reducing profit margins. It is essential to weigh these factors carefully when deciding to accept international transactions.
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