With 42 percent of mobile device users between the ages of 25 years old and 44 years old making purchases via mobile device, and 6.7 percent of all mobile device users making a purchase out of the 12 percent of shoppers that visit stores through mobile devices during 2011, doubling the rate from 2010, it is clear that internet merchant accounts are on the rise. Software as a service is often provided for online payment processor use that partner with merchants, including for electronic bill payments that surpassed the paper bill payment services used across most industries during 2007. There are three levels for credit card processing, and level 3 processing offers the highest amount of detail for a transaction, with item descriptions, quantities, discount identifiers and postal codes included.
A lot of credit card processing online is focused on b2b credit card processing, or business to business payments. B2B payments have impacted the industry of internet merchant accounts and online payment systems in a major way. The evolution of online payment processing shows no sign of slowing down any time soon. Some internet merchant accounts will be prevalent across all industries for decades to come. There are also certain merchant accounts linked to web payment processing that come and go. Learn more about how your company can benefit from the use of a reliable web merchant account management service and improve how easy it is to drive your online sales.