Online merchant services Canada (OMSC) can help secure the future of your business in this region. With digital payments becoming more common, working with the proper e-Commerce payment processing merchant service providers in Canada will help your business scale quickly and efficiently.
But many small business owners are hesitant to set up an account with merchant service providers in Canada because they think it’s too complicated or expensive. Whether you have an existing online business that needs to expand its payment options or you’re starting a new venture and in search of one of the many high-risk payment processors, establishing online merchant services Canada is crucial.
Merchant service providers in Canada offer numerous benefits and can help you grow as an organization by increasing efficiency, saving time, and lowering operational costs. Here are four reasons why online merchant services Canada should be in the future of your business operations.
4 Reasons Online Merchant Services Canada Should be Used
Merchant Services in Canada Include Chargeback Management & Fraud Protection
Chargebacks and fraud are some of the biggest problems facing the payments industry. There are many different types of chargebacks and fraud and they each have a different impact on businesses.
The most common type of chargeback is when a customer disputes a transaction. Excessive chargebacks can result in fines and penalties for the business. Occasionally, accounts are terminated. Understanding credit card chargebacks and fraud are crucial to the longevity of your business.
All chargebacks occur when customers use credit cards, as purchasing with plastic allows the cardholder a specific amount of time in which to dispute the transaction if they are not satisfied.
Fortunately, having a merchant services Canada account makes it easier to manage chargebacks and helps reduce fraud. Since you will be the one processing these payments, you will be able to identify and stop suspicious activity. Using your online merchant services Canada system, you can set rules for each type of payment and block or decline payments if they look suspicious.
Setting rules in your merchant services account allows you to set a limit on how much money can be spent on a particular purchase. You can also limit the number of purchases that a customer can make within a certain period.
For example, you may allow customers to make one purchase of up to $5,000 every month. Setting rules helps to reduce the risk of fraud. It also keeps your business from incurring unnecessary expenses.
When you learn how the address verification system (AVS) works, you can decide which types of transactions they apply. The more details you provide, the more accurate the system will be at identifying suspicious activity.
Setting up rules and alerts to monitor your merchant account can protect you from fraudulent charges and enable you to block or decline suspicious payments.
SecureGlobalPay Canada Merchant Services Are Easy to Use
Canada merchant services through SecureGlobalPay make it easy to set up a merchant account and get started. Once you’ve set up your account and provided some basic information, you’ll be able to start accepting payments immediately.
Most merchant service providers in Canada also have online help and step-by-step guides to help you navigate through the process. Simply blacklist countries, and limit IP addresses and domains you do not want to do business with. Adjust processing volumes and average ticket sizes for specific customers. With SecureGlobalPay’s payment gateway for high-risk business, you’ll have more control over the rules and policies associated with each payment method.
In addition, with Canada merchant services through SecureGlobalPay, you can accept alternate payment types like high-risk e-Check gateway transactions and Crypto. You can also set up recurring payments and integrate your Canada merchant services account with other applications.
Setting up an account with an online merchant service provider in Canada is usually pretty easy and only takes a few minutes. You’ll be able to start accepting payments shortly after you are approved and live.
Most Canada merchant services providers also offer 24/7 support, so you’ll never be left without assistance when you need it.
Merchant Service Providers in Canada Can Streamline Payments
Credit card payments are fast and easy, but many other non-electronic payment methods can be slow and tedious. You might have to wait for customers to write a check and then wait several days for it to clear. Depending on the type of business you own, having to accept only cash payments can be a huge disadvantage.
You may have potential customers who only have access to a particular payment method and might be hesitant to make a switch. With a Canada merchant services account, you’ll be able to accept a variety of payment types, including high-risk e-Check gateway transactions, and make it easier for customers to do business with your company.
Also, one of the best payment gateway for high risk also enables you to accept different types of currency, which is especially helpful if you operate in a country that doesn’t use the U.S. dollar.
Once your account is set up, you can monitor its performance and make changes as needed.
Payment solution providers offer detailed reports that help you track your sales and make changes as needed.
Some payment processing providers also offer detailed guides and best practices, as well as a blog with helpful posts that walk you through the basics of setting up an account and what you can do to get the most out of your online merchant service.
Integration with Other Services
Many businesses use accounting or business management software to help streamline their operations. Using Canada merchant services allows you to integrate your payment gateway online merchant account Canada with your existing or recommended software.
This will help you capture and record information about each transaction through your existing front-end. The data that flows through your merchant account will remain the same which can also be used to create an accurate and detailed financial report.
When you integrate your software with your merchant services in Canada account, you don’t have to manually enter each transaction into the software. This will save you time and can help reduce the risk of mistakes.
It also means you don’t have to manually create reports. These reports can be delivered automatically to the people who need them.
Additionally, you can often integrate your online merchant services Canada account with your CRM (customer relationship management) software to help organize your communication with customers. This can be especially helpful if your business has a high volume of transactions or receives many inquiries through your website.
You’ll be able to accept credit cards, debit cards, prepaid cards, electronic checks, and even Crypto. You’ll also be able to take advantage of other online payment options like deferred payments or charging a surcharge to help cover merchant fees. Customers can pay for their purchases with a click of a button, often within just a few hours.
Why You Should Use Online Merchant Services Canada
The advantages of using online merchant services Canada include the following:
- It is more convenient to use because you can do everything from a computer and virtual terminal. It is also more secure because all transactions are protected.
- It is easy to set up because you will be dealing with true professionals who understand the payment processing industry and are eager to assist.
- It is cost-effective because you do not have to invest in expensive equipment and software.
- Because transactions are processed quickly, there are fewer delays and problems with shipping out goods. This means that delivery times can be faster.
- Some merchants can offer additional services, such as accepting payments through mobile apps or in-person payments at store locations.
- Basics on merchant account fraud prevention are included as a standard, protecting your business and income.
With all these advantages, you can earn more money and grow your company confidently, while your chosen merchant services in Canada handle the technical side and protects the business from fraud issues.
Some of the Key Services Provided via Merchant services Canada Include
There are many different types of payment gateways available, and most come with a variety of features that allow you to tailor them to your business’s needs. The most important thing to keep in mind is that you want to choose a payment gateway that allows your customers to shop securely and without hesitation. You also want to find a solution that integrates with your business’s software.
Virtual terminals can be hosted on a merchant’s website or a third-party provider’s site. In either case, the credit card details are entered into the virtual terminal.
Once the purchase is authorized and completed, the virtual terminal will communicate the credit card purchase details with the merchant’s account and often generate an Invoice for the purchase.
A virtual Terminal is a secure online solution for credit card processing.
Mobile payment systems are convenient, secure, and usually cheaper than other payment methods. There are several types of mobile payment systems, including Apple Pay, Google Pay, and others.
To use a mobile payment system, you must have a mobile device that accepts the system, downloads an app, and normally links a credit card.
However, today a lot of people already have an Apple or Android device, so the process is often as simple as getting an app from the app store, connecting it with your mobile device account, and then linking your credit or debit card.
The setup process only takes a few minutes and once set up, the time saved with payments is significant. Once you have the app or device, you can use it to make purchases wherever mobile payments are accepted.
This is why accepting mobile payments is becoming so important for businesses as things move more and more digitally.
Merchant Service Providers Canada – Hardware Options
Credit Card Terminals
Credit card terminals connect to the card network (e.g., Visa, Mastercard, American Express) through a service provider such as a bank or a merchant services company.
The terminal reads information from the card, usually a credit or debit card. After the transaction is approved, the terminal prints a receipt, which the customer can keep as proof of purchase.
A credit card payment terminal is an electronic device that allows merchants to perform credit and debit card processing to easily accept credit cards as a form of payment. It connects to the card network through a service provider.
When you make a purchase using a contactless payment method, you don’t have to swipe your card or enter your PIN to complete the transaction. Instead, the contactless payment system directly transfers funds from your account to the merchant’s account.
When you make a purchase using a contactless payment method, you don’t have to physically hand your card to the cashier. Instead, tap your device against a contactless payment terminal.
Contactless payment readers are secure because they are protected by a PIN or a code. In some cases, like with Apple Pay and Google Pay, you can make contactless payments even if you don’t have your card on you and can even secure the payments using biometrics.
POS (Point of Sale) Systems
POS systems have come a long way in the last few decades. They used to be clunky, mechanical cash registers that took a long time to process each sale.
Currently, POS systems are generally quick, easy-to-use computers that can be accessed from anywhere in your store. They may be stand-alone units or they may be integrated with your inventory management system.
A Poynt smart terminal can also come with a variety of features. You may be able to process credit cards, accept debit cards, or even allow customers to make purchases with their cell phones. Some systems can also be integrated with other business software to help you better manage your inventory and profits.
With all of the above, your business can process payments in a streamlined, fast, and yet secure manner for customers. This helps to improve the buying experience and turn one-time buyers into repeat customers.
An online merchant account does all of this while also securing payments, protecting the business from potential fraudsters, and even supplying some products and services such as a business bank account, card reader, etc. All of which are often managed (and sometimes fully covered cost-wise) under the standard monthly fees.
Bottom Line: Using Online Merchant Services Canada
As online payments become more common, they will become the future of merchant services.
With an online merchant services Canada account, you can accept more types of payments, have more control over the rules, and be better protected against fraud.
The options are there, and they are continually improving. Merchants have more flexibility, security, and convenience in their payment options nowadays.
Ultimately, what matters most is not the type of merchant services you have but how well they serve your business.