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FREQUENTLY ASKED QUESTIONS ABOUT FOREX ECOMMERCE

  1. How to offer e – gift certificates on my web site?

E – Gift certificates function in the same way as traditional paper ones do, except that these are used for online shopping. There are several software applications which can provide such a function to your website.

  1. What exactly is check verification or guarantee?

Check verification is a software application which makes sure that your checks get cleared. You will not have to worry about check rebounds any more. This solution will cost you just as much as your credit card acceptance software, but some companies offer at a lower price.

  1. What exactly are checks by email or fax or phone?

Checks by email or fax or phone are a good alternative to accepting credit cards. It permits you to collect payments from your customers through checks given over the mail, fax or phone.

  1. What is processing of Debit Card?

Processing your debit cards is just like processing credit cards. However, here debit cards are used instead of credit cards.

  1. What is EFT or electronic funds transfer?

EFT is a mode of making payments where your customer will use the facilities of the ACH or automated clearing house to transfer money from his account to your account, electronically. This is the only payment mode where the merchant will initiate the payment transaction. It can also be used to pay bills.

One of the important functions is that on the due date money is collected from the customers as cash not as uncollected funds. This method of collecting money is much less costlier than the traditional methods which involve employee costs, postage, mail, using statements and bill collecting. EFT transactions are charged based on the number of transactions and not the value of the transaction. Therefore, with a huge volume this cost becomes negligible.

  1. What is EBT or Electronic Benefits Transfer?

Shopping for groceries is the most widely performed activity in the world. If you have a business dealing with food, you will mostly know that not everybody pays with credit cards or cash. Many people use something called as food stamps. Initially, paper was used to print food stamps which could be used to buy ration. However, now these food stamps are given in the form of “Electronic Benefits Transfer Card”.

  1. What is Secure Order Protection? Is it necessary?

Secure Order Protection is known as Secure Socket Layer or SSL, secure certificate, etc. This must be integrated with all internet based businesses that are using credit card processing in real time. This technology acts as a barrier between your site and the hackers so that your customer’s details are safe and secure.

  1. What exactly is the shopping cart application? Is it necessary?

If you are running a business on the internet, then a shopping cart application is definitely required, more so if you have more products on the shelf. This application will provide a user friendly experience to your customers which are necessary for the growth of your online store. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.