Businesses Need Phone Order Accounts Even if they’ve Internet Merchant Accounts

MOTO (Mail Order/Telephone Order payment processing system), accounts are much like the traditional IMA (Internet Merchant Account payment processing system) as both of them enable a business organization to accept payments without requiring the payee or the credit card to be physically present. These systems are popular by the name Cardholder Not Present or CNP solutions in the business world.

Many businesses use either one of these two and only fraction of e-commerce and telemarketing companies are aware of the fact that using both of them is actually the way to move forward!

How MOTO Merchant Accounts Came to Be Used?

The concept of Mail Order/Telephone Order merchant accounts saw the light of the day as an increasingly large number of companies over the last few years began to receive their product orders either via mail or telephones. Payment details were made available to these companies telephonically or in a written form.

What Are the Issues that need to be addressed?

Since the payee is not physically present at the time of payment processing initiation, it’s considered to be a high-risk payment processing. Therefore, the payment processing with a phone merchant account is carried out through a highly secure virtual terminal. Technically, the terminal is much like Secure Shell (SSH) communication used for ultra-secure communication on the internet. The terminal can be accessed through a web-browser without inviting any trouble after it has been setup and cross checked for security by an established high risk merchant services company. Values can be entered on the terminal through a keypad without having to worry about the transaction details being hacked or accessed by any malicious program or person with evil intent.

Who can benefit from Mail Order Merchant Accounts?

Businesses that receive payment details from their customers telephonically or via fax and email can benefit a great deal from MOTO merchant accounts. Over the last couple of years, an increasingly large number of people have begun to trust professionally run organizations with their credit card details. In fact, many people believe that they’re more comfortable in giving away payment details to a real person at the other end of the phone than making an online payment through a website that may or may not be genuine. It is due to this reason that e-commerce enterprises and telemarketing companies are now making use of mail order merchant accounts to the fullest. 
If you already have a high risk internet merchant account (IMA) for your company, you can also go a step further to simply payment processing for your prospective customers by setting up a phone order account. The setup process and essential criteria for both of these accounts are fundamentally same. Choosing the right high risk merchant services company is important. You should also consider the total transaction volume before making a final decision. Established companies can ensure maximum customer satisfaction and also help you reduce expenses related to each transaction to a significant level.