News

PayEasy Offers Virtual Terminal Services to SME’s for Accepting Online Payments

Hesitant about taking your business online? Starting an online store and integrating it with an online payment system can be a daunting task for small and medium-scale enterprises (SMEs). The difficulties of building a functional site from scratch can be discouraging. Small online retailers may only have a few items to sell and may not need a complex shopping cart application. Receiving orders via phone, fax or email may be more practical options for them. But how do you process these payment information received non-realtime?

PayEasy introduces a viable alternative to having customers enter their financial data directly with its new Virtual Terminal service. Through Virtual Terminal, online merchants can request for a customer’s credit card information via email, fax or phone, and input it onto the system on the customer’s behalf. Such a model is common for paying magazine subscriptions, buying items from a mail-order catalog, home TV shopping, and many others.

“There are customers who simply refuse to enter any financial information online on a web browser,” said Robertson Chiang, Mozcom’s CTO. “However, these same customers do not mind filling up a form and faxing it to the merchant, or dictating his card details over the phone to a sales representative. Virtual Terminal is the perfect solution for these types of transactions.”

Taken to an extreme, Virtual Terminal also enables merchants to conduct e-commerce without an online presence. They can opt to post ads in traditional media like print, radio, or television, and accept orders over the phone or email. The merchant will simply encode the financial details on his terminal to capture the customer’s payment.

“We are focused in providing more tools for helping SMEs expand their business and compete nationally and globally,” Chiang added.

Mozcom PayEasy is the most comprehensive online payment system in the country today supporting all major credit cards (Visa, MasterCard, American Express, Discover, JCB, Diners Club), BancNet and MegaLink ATM cards, PayPal, Globe G-Cash, Smart Money, UCPB my1Time, and Western Union. For more information, visit http://www.payeasy.ph or call (02)848-2606.