How MOTO Credit Card Processing Works

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MOTO businesses do things a little differently than their retail shop counterparts when it comes to MOTO credit card processing transactions—and, truth be told, they have it a little easier in some ways if you know about the technology available.

Payment integrations give you less work to do for MOTO credit card processing transactions

For the uninitiated (unintegrated), a transaction and sales process might look something like this:

Take a customer’s phone call. Begin the order fulfillment process as the customer tells you his order.
Walk over to credit card terminal either having copied down customer’s card information or keeping the customer on the phone. Enter the customer’s card information.
Retrieve the receipt from the terminal, print out an invoice. Staple the two pieces of paper together. Place them in a pile on your desk or somewhere else.
After closing time, sit down at your accounting computer and make your way through the stack of invoices, entering the proper amounts for each one. Balance your general ledger to reflect the paid invoices.

I’m positive that doesn’t sound very easy or fun, but it’s quite common. Most of these MOTO businesses, although extremely technologically advanced in most aspects, are still living in the distant past when it comes to MOTO credit card processing transactions. It might be because someone in the company had a bad experience with a processor once so now the company sticks with just one way of doing things—or, maybe it’s just because “that’s just the way things always been.” No matter the reason, it’s an absolutely needless hindrance that keeps these businesses from real productivity.

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With a payment integration, your process may look a little more like this:

Take a customer’s phone call. Begin the order fulfillment process as the customer tells you his order.
Enter the customer’s credit card information directly into your accounting system, as you would have to do anyway at the end of the day. The integration module applies your customer’s payment to his invoice automatically and balances your general ledger to show the proper daily totals.

Clearly, for businesses that accept a good number of credit card payments each day, using a payment integration module for MOTO credit card processing can be absolutely invaluable. It saves several steps, not to mention a great block of time at the end of the day. Just imagine what you could do with an extra 20 or 30 minutes every day. Maybe an hour! Your entire outlook on the day would change.

Standalone virtual gateways streamline other tasks for businesses that can’t integrate payments

While some businesses would be perfect candidates for payment integration for MOTO credit card processing, others use special procedures or have certain ERP systems that make integration impossible. What are they to do?

Well, no matter what, they don’t have to continue using a physical terminal. One consistent feature of all physical terminals is their lack of any sort of reporting tools or customization. A virtual gateway gives merchants a starting point for better reporting, filtering transactions by channel (for example, shopping cart purchases, mobile purchases, and phone orders), by user (if you want to measure individual performance), and, simply an easier processing experience. Whereas terminals simply accept transactions and spit out a piece of paper, virtual gateways crunch numbers and do other work for you, saving you an untold amount of time generating data.

Technology reduces basic transaction costs for MOTO credit card processing

In addition to increased efficiency, using either a payment integration or a virtual gateway for MOTO credit card processing can sometimes lower the final cost of accepting credit cards for payment. A lower base price can be obtained when the back end of the payment module or gateway gives additional information to Visa, MasterCard, and card-issuing banks; when the card-issuers receive the extra data, they reward your processor with a lower cost, which can then be passed on to you as an advantage of doing business with that company.

The interchange (base) costs make up the bulk of what companies pay in transaction fees, so it’s a bit different than your processor’s profit margin, which you can obviously negotiate directly with them.

In summary

For MOTO businesses, the advantages of the payment integration and the virtual gateway may have been hiding in plain sight all along, but it certainly isn’t too late to see how they might positively affect your business, by saving time and even improving overall morale. When thinking about yourself and your workers, all of whom spend a third or more of their living hours under your company’s roof, it’s an effect that can’t be overstated.

Use the links above or click this one here to schedule a call back from Century Business Solutions to discuss which MOTO credit card processing solutions will make your payment acceptance as efficient as the rest of your business. Or, choose one of the links below to read about the plugin that fits your exact software:

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