| Summary A look at the basic elements of Electronic payments. A concise explanation of the terms Merchant Services, Customer Not Present and Basic Web Trading. |
This section introduces you to the basic components of Electronic payments - how debit and credit card payments are actually collected and how taking card details over the Internet involves some slightly different features.
The next sections cover the different types of electronic payment available and some of the cost and application information you will need to make an informed choice about the electronic payment method that suits your company.
The Fundamentals pages cover:
- Merchant Services – Looking at how a normal high street shop takes credit-card payments;
- Customer Not Present – When a customer orders by mail-order or over a phone , the shop does not see the credit-card so the Merchant Service has slightly different terms and conditions;
- Basic Web Trading –To enable customers to place orders over the Internet you need some software to collect the card details and authorise the transaction.
Understand these fundamental electronic payment components and you will be able to use these new payment options to capture more revenues for your business.