Book Store Payment Processing and Payment Service Provider
Scheduling a ride, downloading the latest best seller to read on the train, ordering takeout while walking home, or converting a print into a high-quality digital image has never been simpler. These are now available at the touch of a tablet or smart phone thanks to technological improvements and app development. The emergence of smart gadgets has fueled the app development business, resulting in an explosion of freelance programmers working tirelessly to create the next big thing.
The steady expansion of the eBook reader population in recent years has offered an attractive opportunity for publishers to sell their material directly from their eBook shops.
However, as the proprietor of an eBook shop, the first thing you must do is incorporate a payment gateway. In this article, we’ll go through why you need a payment gateway, how it works, and how to incorporate it into your eBook shop step by step.
Why the e-book business require payment gateway?
If you own an eBook store, a payment gateway is a must-have since you cannot accept online payments without one. It serves as the primary building component as well as a link between banks, authorizing payments for businesses.
Payment Gateway helps to encrypt sensitive information like as names, addresses, and card numbers to guarantee that all personal information is entirely safe between customers and merchants. It is also known as a physical point of sale terminal situated in your eBook shop.
EmerchantPro will help you set up a payment Gateway for Book Store. We will assist your electronic payment processing as long as your chargeback rate is less than 3%.
What are the requirements for obtaining a Book Store Merchant Account?
EmerchantPro takes pride in making the Book Store merchant account procedure as simple and straightforward as possible. After completing short online application, merchants must submit some standard documents for approval by underwriters and processors.
In addition to an application, the following documents must be supplied to processors:
- A legitimate government-issued identification document, such as a driver’s licence or passport
- A bank letter or avoided check that has already been printed
- A safe and functional website
- Three months’ worth of bank statements
- If appropriate, three months of the most recent processing statements
- A chargeback ratio of less than 2%
While no clearance is assured, we guarantee a fair procedure. Apply today to get started. Eligible retailers can expect to be authorized within 24 to 48 hours.
Increase the amount book store merchant accounts
It is not uncommon for high-risk firms to be accepted for merchant accounts that have monthly credit card processing volume limitations. This implies that retailers have a monthly restriction on the number of credit card transactions they may take. When a business achieves that limit in a given month, he or she is no longer permitted to accept credit cards as payment. This effectively closes an e-commerce store till the following month.
Fortunately, software and e-book merchants that can demonstrate they can operate with low chargeback ratios and no unpaid invoices will soon have their limits lifted. They can request additional processing volume limitations in as little as three months.
Book Store Payment Processing & how do it works?
- The entire payment processing process via payment gateways is pretty straightforward. Here is a step-by-step explanation of how it works:
- When a consumer purchases your eBook from your shop, it is encrypted and transmitted to a web service. SSL is used to perform this encryption (Secure Socket Layer)
- After that, all transaction information is transferred to the relevant payment gateway, which subsequently transmits it to the merchant’s acquiring bank.
- As soon as the acquiring bank receives this information, it sends it to the issuing bank, which owns the customer’s credit/debit card, and the transaction is accepted by them.
- When the issuing bank receives this information, it sends a message back to the payment gateway to confirm whether the requested transaction was approved or declined (with a reason in the case of a decline).
- The payment gateway provides an encrypted answer to the merchant’s server, which then sends it to the customer. This is to let them know if the transaction was successful or not.
- The entire process described above takes less than 5 seconds.
A payment gateway is an excellent solution for allowing your eBook shop to take credit card payments from clients. There are various ready-made options on the market for integrating a payment gateway into your eBook shop.
Once you’ve decided on a payment gateway, you can easily integrate it into your online eBook shop. It is critical to pick the correct service provider to give an enhanced user experience and optimum security to your clients in order to expand your business.
Get your Book Store Merchant Accounts from EmerchantPro
As the world moves away from paper, software and e-books are becoming more popular as a commodity supplied by internet businesses. Businesses that sell software and e-books have great economic potential, but they are also prone to failure. The enormous amount of transactions in the business, together with the associated chargeback rates, make this business model high risk and difficult to approve for traditional financial institutions.
Startups and small software businesses that lack the track record of industry behemoths like Amazon are at a significant disadvantage when they investigate their possibilities for electronic payment systems.
EmerchantPro is a reputable merchant service provider. We are a rapidly expanding PSP that supports businesses all over the world. We collaborate with payment service providers who adhere to the most recent PCI DSS requirements. Our team has adequate experience to provide the best payment processing solutions. The respective representative is familiar with the merchant’s business concept and requirements. Our experts will advise the merchant on the finest and most reliable payment gateways based on their needs.
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