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. |