In this guide we’ll share useful insights that help businesses accept card payments quickly and easily:
Whether you're talking about taking card payments online, contactless payments, smartphone payment solutions, payments in person or card machines it's all based on similar 30+ year old underlying technology. However, many innovations in recent years have evolved the way we use credit, debit, and prepaid cards everyday. Utilising point-of-sale terminals and payment gateways, it offers convenience, security, and global accessibility. With features like chip technology, encryption, and smartphone wallets on mobile devices it has transformed the basic way card details and card information are used for sellers to get paid. While not a perfect solution, credit and debit card transactions provide users with seamless, efficient, and secure means of conducting financial transactions as well as a suitable way for business owners to get paid and charged transaction fees. It's also one of the leading ways businesses can take card payment without cash which has driven global commerce increasingly towards a cashless society.
Accepting card payments with enterprise functionality, regardless of your business size
With the way technology has advanced in recent years, there's no major reason why enterprise functionality shouldn't be accessible for businesses to accept secure payment by card, no matter whether they are a small business or global business. Advanced payment systems like Rvvup's Payments 3.0 platform can cater to diverse needs, offering scalability, robust reporting tools, and seamless integration with existing enterprise software. Whether a small startup or a large corporation, businesses can benefit from features like Visa, Mastercard, American Express, Apple Pay, Google Pay, other mobile payment methods, card reader payments, POS systems, soft-POS, all in one reconciliation and AI enhanced insights. This ensures a tailored and efficient payment processing system, optimising operations and enhancing customer experiences with the way small businesses and large businesses alike accept Pay by Card. By adopting such versatile solutions, businesses, irrespective of size, can stay agile, competitive, and future-ready in the dynamic landscape of card payment technology. Offering their customers the latest payment methods and future proofing their checkout process.
How card payments are processed — card payments for your business
When debit and credit card payments are accepted they undergo a complex yet reasonably rapid processing journey. When a customer initiates a transaction, the card reader, point-of-sale (POS) terminal or online checkout captures the card details, encrypts the data, and sends it to a payment gateway like Rvvup. The payment gateway acts as a bridge, securely transmitting the information to the acquiring bank, which validates the transaction with the issuing bank. Once approved, funds transfer from the customer's account to the merchant's. This process is usually completed within seconds although behind the scenes settlement can sometimes take between 3-7 days to completely filter through the depths of the legacy layers of issuers and banks. Customers and businesses generally benefit from quick transactions, enhanced security features, fraud detection and streamlined record-keeping, contributing to an improved overall card payments experience. It's worth noting that some newer payment methods like Rvvup Pay by Bank also known as Account to Account payments can offer fast, instant settlement and lower fees than most debit and credit card payments so it's useful for small businesses and enterprise retailers to optimise their checkouts with the best combination of multiple payment methods.
Ways you can accept card payments in-person or online
Businesses that want to accept and start accepting card payment details today have various options for accepting, both in-person and online. In-person transactions can utilise traditional point-of-sale (POS) terminals, contactless payments, or mobile payment apps, providing flexibility for customers. Online, businesses can integrate payment gateways like Rvvup into their websites, offering a secure platform for payments made through card networks. E-commerce platforms, virtual terminals, and digital wallets further expand payment options. Whether through chip cards provided by likes of Mastercard, mobile phone apps, card reader machines, chip and pin including Visa, Pay Links which also allow card payments in person, QR code or secure online portals, businesses today can cater to diverse customer preferences, ensuring a seamless and efficient card payment experience, thereby enhancing customer satisfaction and broadening the scope of their financial transactions. With technology advancements, particularly in recent years, it's never been easier to process card payments through a range of payment terminals and digital solutions for any kind of business. In addition, with solutions that offer multiple payment methods in one integration, sellers can also offer and accept credit with Buy Now, Pay Later (BNPL) at limited risk to their business account and without hidden fees.
Security when taking credit and debit card payments
Ensuring security when accepting credit and debit payments is paramount. Utilising encryption technologies, tokenization, and implementing robust cybersecurity measures safeguards sensitive cardholder data on smartphone or tablet, in-store, PSPs, hardware and software POS, etc.... Compliance with Payment Card Industry Data Security Standard (PCI DSS) is essential. Secure payment gateways, two-factor authentication, and regular security audits add layers of protection. Educating staff and customers about phishing risks and fraud prevention also contributes to a secure card payment environment, instilling trust and confidence in the transaction process. It's important that businesses can quickly and easily take different payments without needing to manually enter card details per transaction or set up new merchant accounts for each payment method.
How Rvvup can help you optimise your checkout and accept card payments
Rvvup Pay by Card is one of multiple payment methods that can be added to your checkout or sent to your customers' via Rvvup Pay links. Our Payments 3.0 platform is designed to make it as easy as possible to open a merchant account, receive a payment and get set so businesses can accept credit or debit based on a customer's card alongside other payment methods like Pay by Bank, Buy Now Pay Later, PayPal, Apple Pay and even new digital currencies all-in-one integration and interface. This means you can receive payment, accept any transaction amount whether set in your e-commerce store or manually created for bespoke orders with Pay Links so customers can use physical cards, wallets, credit limits with BNPL, Apple and Google Pay. The ability to add multiple payment methods and re-order them easily also helps businesses to optimise their checkout for conversion, basket size or cost. Start taking payments today — Schedule Demo
Other useful information to get paid: