PAYMENT OPTIONS WITH MP3 MERCHANT ACCOUNTS

Merchant accounts are of various types so is e payment option in merchant account. A customer can enjoy the right of freedom regarding how to make payments and through which ways should payments be done. The banks which provide merchant account also provide the internet banking facility to its customer. Payments can be made online. It is considered to be the most reliable method of making payment.

The customer is also given a personal and unique user-id and password. To use the internet banking service, the customer has t log into the appropriate bank’s website. If a customer faces any kind of problem while logging then, a customer support is available 24 hours a day who are always ready to help the customers who are in trouble. The user-id and password that is given by the bank is needed to log in to the personal account. Now, the customer has to select the Bill Pay option in the given list of the menu. The latter has to register as a biller while registering. This is done only once, after opening a new account. Afterwards, the customer can make bill payments through the internet banking system.

Secondly, when the customer wants to make payments through electronic checks, he has to log in to the bank’s website. Then the person has to select the option “Click to Pay” in order to make payments. The system prompts for the check number and the given code. These include the transaction code and the IFS code, which is also provided by the bank at the time of issuing the merchant account. These codes resemble the bank’s location and area. The latter can, then, proceed with the online check payment. Another payment option in merchant account is the Auto-Debit system. In this system, the payments are done on monthly basis. The amount that has to be paid is debited to the customer’s account and the customer has to make payment to the bank at the end of the month. The amount is calculated as minimum due or the total amount due.

A customer can also make payment to the merchant’s bank account directly by using the mobile phone. The transaction of payment can be done using the mobile banking services or the customer can also phone the bank officials and request for a telephone transfer (TT) to the merchant’s bank account. In the early days, it use to take 3 working days to clear such transactions but now, sue to the use of internet banking services, it is done instantly. Therefore it is very convenient as well as reliable and fast. Another way of making payments is by using the credit card through credit card terminals. A customer can choose from a wide variety of products that are available on the internet. He can also pay through the online payment gateways. It is also a secure option as the customer and the merchant are physically present and chances of being cheated is less. These are the payment options in merchant accounts. 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.