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Many of the businesses which look to take advantage of micro payment solutions often provide services which require for a fast payment to be processed at the precise time the order is placed. During our analysis of these payment processes we spend time analyzing the average amount of time it takes to authorize a payment and the amount of time required for that information to be relayed to the providing merchant.
With many businesses offering smaller transactions to their customers there are often volumes being associated with how they do business. It is important for the payment processors which we recommend to be historically reliable and capable of handling the payments with as few issues or limitations as possible. A reliable payment processor will have minimal downtime incidents and a strong reputation in their industry.
It is important for internal processes within the processor’s network to be as efficient as possible in order to reduce the types of fees being incurred by their merchants and the amount of work put into maintaining their payment processing solutions. We ensure the processors we recommend have figured out how to minimize their own costs for providing their services through efficient internal processes and technologies.
Many businesses offering their clients micro transactions require a variety of payment methods in order to offer as many paying customers the ability to make a payment as possible. We investigate the overall array of offerings provided by each payment processor. Having different methods of accepting payment, storing payment information, and maintaining their financial accounts ensures the best fit solution for the merchant.
It is important for micro payment solutions to be accurately tracked and reported to merchants in a timely manner to provide them with an understanding of their performance. Reports should include information about the fees incurred through their use of the processing service, the total volume of their transactions, and the source of the transactions in regards to the purchased products and services.