what card details are needed to make a payment over the phone

To have credit card payments over the phone, you'll demand to work with either a merchant business relationship provider or payment service provider. With your chosen provider, you'll be able to take telephone payments by inputting credit card data into a virtual concluding, an online software product typically provided past your merchant account or payments services provider that allows you to input and process a client'southward payment data when their menu is not present. Your point-of-auction arrangement may be able to operate as a virtual terminal and handle phone-based payments too.

What you need

To accept credit card payments over the telephone, y'all'll need either a merchant account or a payment service provider, which will give you admission to a virtual terminal or a POS organisation that offers virtual concluding functionality and can process carte-non-present transactions.

Merchant account provider or payment service provider

With a merchant business relationship provider , like Payment Depot or Dharma Merchant Services , you receive a dedicated merchant business relationship for your business concern, plus the hardware and software tools that you lot need to take credit card payments. Merchant account providers can charge extensive fees and require an awarding and a contract but are considered more secure.

With payment service providers like Square or Stripe, you lot do not receive a unique merchant account — the service volition transfer the advisable funds into your business organization depository financial institution business relationship. Payment service providers typically accuse fewer fees and let you to receive service instantly later signing up for an account online, but customers can face bug with them holding funds and freezing or closing accounts.

Virtual terminal

A virtual terminal , typically provided past your merchant account or payment services provider, allows you to central-in card transactions and usually includes security measures, the ability to ship electronic receipts and sometimes the option to save payment information.

Some POS systems can operate as virtual terminals and process card-not-present transactions. For instance, if you use Foursquare POS, y'all can apply the Square POS app to charge a "manual carte du jour entry." You can type in a customer's card data every bit they provide it over the phone and hit "accuse."

Make payments make sense

Find the right payment provider to run into your unique business organization needs.

The step-by-step process

Once you have access to a virtual terminal or POS organisation with card-not-present capabilities, you'll be able to accept credit card payments over the phone.

1. Determine what credit carte information is required

Some payment providers and POS systems have unlike requirements for credit bill of fare data. Check your contract or provider website to meet what information you lot'll need.

Generally, y'all'll at least be required to ask your customers for the following information to process their credit carte through your virtual terminal:

Credit card number.
Expiration date.
Security or CVV code.
Customer name.
Billing ZIP code.

Y'all may also need to ask for the blazon of carte (Mastercard, Visa, etc.), as well equally the customer's address, email or phone number. If y'all're going to be aircraft orders, you'll need the customer'south shipping data, and if you're going to be sending e-mail or text receipts, yous'll demand contact information.

2. Take the customer'south club and input it into your organisation

While you accept your customer on the phone, input their order details into your system and calculate the total lodge amount, considering any sales taxes and shipping costs. So, verbally communicate the concluding sales total to your customer.

3. Inquire for their credit card information, key it into your virtual last and submit the payment

Your virtual terminal should notify you if the transaction has been approved and you lot've successfully accepted the payment. If the transaction is declined, yous might need to reconfirm the details with your client or ask if they tin can employ another carte du jour.

4. Transport the customer a receipt and complete the society

Depending on your system, you can transport an email or text receipt or print i to mail service to the customer. You'll also desire to save a receipt and any additional information advisable for your records. As menu-not-nowadays transactions pose more run a risk, yous may determine to brand specific notes regarding the sale and your telephone call with the customer.

How to avoid fraud and chargebacks

Aside from beingness more expensive to have, card-not-present transactions come with a higher risk of fraud, which could potentially mean more than chargebacks for your business concern if unauthorized payments go through. Here'due south how y'all can limit fraud and chargebacks.

Save transaction records and have notes

Because phone payments are typically riskier than in-person payments, you lot may want to accept more detailed notes, including the customer's proper noun, the engagement and time and anything else y'all find relevant. In case of a chargeback, y'all may be able to employ that information in a counter-dispute.

Set up a delivery confirmation

If you're aircraft orders to customers paying over the phone, it'due south helpful to buy tracking or insurance for the shipment, especially if it's a particularly plush purchase. This can add together protection in the example of a chargeback or lost shipment claim. You might also require a signature from the customer when they receive the shipment or crave your shipping service to provide you with proof of delivery.

Many virtual terminals too come up with an address verification system to cross-check a customer's billing accost with the address on file at their credit card visitor.

Cost to take credit card payments over the phone

Square

Cost: three.5% plus 15 cents per transaction for keyed-in or virtual terminal card transactions.

Square is a payment service provider that allows you to procedure phone payments using its POS app. Yous can also utilise its virtual terminal on the calculator. There are no monthly charges, and so y'all'll only pay per-transaction processing fees. The card-not-present rate is higher than the in-person payment rate, usually 2.half dozen% plus 10 cents per transaction.

The provider does non charge potency fees, statement fees or refund fees.

Payment Depot

Cost: $59 and up per month, and interchange plus 15 cents per transaction for carte du jour transactions with the Starter plan.

Payment Depot is a more than traditional merchant account provider that too offers virtual terminals. There'due south a monthly subscription and interchange-plus pricing construction. This means that fees depend on the rates set by the customer's credit card issuing bank.

The company does not accuse cancellation fees, account fees, statement fees or service fees on any of its plans.

Clover

Cost: $9.95 and upward per month, and 3.five% plus ten cents per transaction for keyed-in carte du jour transactions.

Clover offers a virtual last with its point-of-sale plans at no additional cost. You can access the Clover Web Dashboard on whatever device and accept keyed-in payments, and you'll pay the aforementioned per-transaction fee every bit you would for card-not-present payments on a Clover hardware device.

A version of this article was first published on Fundera, a subsidiary of NerdWallet.

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Source: https://www.nerdwallet.com/article/small-business/credit-card-payments-over-phone