MOTO (mail order/telephone order) payment processing continues to grow in popularity, with use in the US increasing by 18% in June 2021. Most merchants can benefit from having a MOTO virtual terminal merchant account, but since this type of payment processing depends on virtual terminals and card-not-present (CNP) transactions, businesses that use this model are termed high-risk by traditional banking providers.
It may be challenging to find a tier-one financial firm to provide MOTO processing services for your business. Thankfully, PaymentUSA’s reliable solutions allow your customers more ease and convenience in making payments.
Let’s take you through why a business like yours needs a MOTO merchant account and what types of businesses should look into a MOTO payment processing partner. We’ll also examine the features you should check out when selecting a reliable provider.
What Makes a MOTO Business High Risk?
Since MOTO transactions involve a virtual terminal and the physical absence of the customer, the chances of fraudulent practices are on the higher side. This business type also incurs huge bank fees, which can quickly affect a company’s bottom line.
In addition, it is possible to enter the incorrect payment details of a customer, as this is done manually, leading to extra charges. Faulty MOTO transactions are more difficult to process. The level of security when a customer places an order via mail or telephone is significantly lower than when placed at a retail store. There are no signature proofs or PINs to confirm a customer authorized the payment. The merchant bank account will be directly responsible for extra fees if fraudulent activity arises.
There are several other reasons why banks and other financial facilities have termed this business type high risk. Yet, payment processors like PaymentUSA ensure you do not bear this alone with the fantastic solutions available.
If you often accept orders via mobile and customers confirm the transactions and pay by bank transfer, you should extend your payment methods to include MOTO credit card processing systems. The benefits are extensive since you’re in control of your payment systems and can still provide excellent customer service to your clients.
With PaymentUSA’s powerful security encryption, you’re assured of a reliable and secure payment gateway that complies with PCI guidelines. Here are the primary benefits of signing up for MOTO processing services.
One of the valuable values MOTO payment processing can give is the level of convenience regarding payments. Your customers will enjoy a faster way of making payments after placing an order.
With the world steadily moving towards online shopping, everyone wants a way to complete transactions in the fastest and safest way possible. MOTO businesses offer this. Clients can call or send an email to order a product or service and still find popular and secure payment methods to choose from.
A MOTO payment processing system accepts all leading credit and debit cards. This includes American Express, Mastercard, and Visa, among others.
MOTO payment processing is easy to set up and the dashboard can be accessed from any device. Since businesses with a MOTO merchant account only need a virtual terminal, the setup cost is lower than that of other merchant accounts.
In addition, the level of integration is high. However, this depends on the payment processing partner you choose. With PaymentUSA’s easy integration, getting started with this payment model type is as swift and easy. No matter the management tools you use, a good MOTO virtual terminal merchant account can quickly load up and begin operations in no time.
Furthermore, anywhere can become a business store for you. With a strong internet connection and a device, you can access your dashboard to confirm payments from anywhere.
Many customers now prefer online shopping. With the ease that a mail or telephone order brings, a more straightforward mode of payment ensures your clients reap the benefits of online orders. And when customers enjoy your products or services and find it simple to order and pay, they’ll recommend your business to others.
Your customers can now enjoy less stress when paying for a product or service, especially with telephone orders. There’s no need for them to go online or deal with a checkout page. Hence, shortening the payment experience saves them the need to load a website just to place and confirm an order.
This is a perfect alternative for customers who can’t access in-person shopping for reasons such as mobility, health, and so on.
With a telephone order merchant account, you increase your customer base to include all ages. Even the elderly can quickly purchase and get assistance for your goods. This helps you build your customer base and makes your product or service more accessible to a wider market.
A common question that arises with many merchants is the question of security for MOTO payments. While they do present a significant risk of fraud and data breaches, most card issuers and payment processors offer higher levels of protection for their MOTO merchant accounts.
PaymentUSA provides merchants with cutting-edge fraud detection technology for MOTO payments. Besides chargeback and anti-fraud tools, we protect your transactions with a robust level 1 PCI-DSS MOTO payment gateway. . So, you can rest assured that with PaymentUSA, your high-risk transactions are secure.
Are MOTO Payments Safe?
A common question that arises with many merchants is the question of security for MOTO payments. While they do present a significant risk of fraud and data breaches, most card issuers and payment processors offer higher levels of protection for their MOTO merchant accounts.
PaymentUSA provides merchants with cutting-edge fraud detection technology for MOTO payments. Besides chargeback and anti-fraud tools, we protect your transactions with a robust level 1 PCI-DSS MOTO payment gateway. . So, you can rest assured that with PaymentUSA, your high-risk transactions are secure.
Before you start accepting MOTO payments, there are a few features you should understand. This information isn’t important for customers, but for merchants, it is helpful to know how payments occur and the components involved.
Mail and telephone orders go hand-in-hand with MOTO merchant accounts. This is not an optional tool. As long as you’re going remote for orders and payments, a MOTO merchant account ensures you’re able to offer all the digital payment processing solutions for your customers.
Another essential element that should be in place is PCI compliance. PCIe guidelines are regulations that every merchant must comply with. This protects you and your customer’s data during information transfer through the payment gateway.
This essential implementation is part of the package we at paymentUSA offer our merchants. Our PCI compliance team can take you through the process of safeguarding your information, protecting you from data loss, potential hacks, or lawsuits.
There are specific fees involved when operating a MOTO merchant account. One of the crucial charges is the card-not-present (CNP) fee, which varies depending on your provider. We will discuss this further in a separate section so you can prepare once you decide to file an application.
Several fees are associated with a MOTO merchant account. As you’ve read, these depend on your payment processing provider. It’s important to research the different options before submitting an application for an account. Remember that it could be challenging to get a MOTO merchant account with a traditional bank. That’s where PaymentUSA comes in.
Here’s an overview of the different fees involved with a MOTO credit card processing feature for your business:
Some of these rates are optional as not all providers use them. You should clarify with your provider which will be charged to your account so you don’t get a nasty surprise. You can reach out to our dedicated customer support to get a breakdown of our competitive rates.
A MOTO account can help place your business on the map of serious enterprises. Here’s how to go about applying for one.
The choice of a payment processor affects the fees you pay, the type of security you get, and other factors. Don’t jump on the first offer you get. Instead, research to find a provider with excellent customer support, reasonable fees, and credibility.
Once you’ve found a provider that ticks the boxes, applying for an account comes next. You must outline the specifics of your business truthfully in your application. This helps your potential MOTO merchant services provider choose the right strategy for you.
Because MOTO accounts cater to high-risk businesses, they undergo a process for assessing the level of risk. Some of the information required might include bank statements, proof of business, identification, marketing material, and financial history.
Accept Payments Using Merchant MOTO Account Merchant Services From PaymentUSA
Despite the risks involved with MOTO payments, credible account providers like PaymentUSA have robust solutions that can meet your needs. We partner with new and existing businesses that range from low to high-risk enterprises, offering successful, proven, and reliable payment solutions. Our aim for every online merchant account is to:
We pay attention to the needs of each customer. Our goal is to provide each merchant with a quick, effective, and cost-efficient solution for their business. Furthermore, because we care about taking your brand global, we support payments in different currencies. You can quickly get paid from other countries with a small processing fee.
Our customer support agents are always available to answer your questions and clear up any issues you might have.
Adding alternative payment methods to drive your sales and increase profits is always wise. But those alternative methods must be secure. Reach out to us for a free consultation and choose the right merchant payment service for your business.
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