Renting space in a shopping mall is something many merchants strive towards. Numerous people walk past their shop on a daily basis, and although they may not purchase something the first time they see it, there is no doubt they will be back or recommend that shop to friends and colleagues.
But, the crux of the matter is that owning floor space in a shopping centre costs money. And in order to cover those overheads, merchants have to sell a certain number of products in order to afford the rent and carry on trading the next month.
In addition to this, in today's society, many customers don't carry cash or would prefer to pay using a credit card, making it more difficult for merchants to trade, especially if they have no previous trading history.
There is, however, a cheaper alternative and it comes in the form of Pay Now by Sage Pay. "In the past, only the really big online retailers had the resources to accept online payments. Before they could start trading, though, they would have to have numerous security measures in place and would have to pass a number of security audits before they would be verified by a bank to accept online payments," says Donovan Marais, channel manager at Sage Pay.
This has, however, all changed with the introduction of Pay Now by Sage Pay. "Now, a merchant of any size, with little or no online trading history, is able to accept online payments and doesn't have the headache of keeping customers' card details secure, as it is automatically ensured by using the Sage Pay system," he says.
Getting started with Sage Pay
As a start-up, you may find it difficult to obtain a merchant account to process credit card payments online, particularly if you have little or no trading history. The process can be made easier and more cost-effective by adhering to the following guidelines set out by Sage Pay.
1. Shop around
Fees can differ dramatically between merchant banking facilities. Sage Pay offers competitive pricing for small to medium-sized businesses. With Sage Pay, you don't need a bank merchant account or secure certification to accept online payments; it is part of the Sage Pay offering.
2. Be prepared
You will need to provide your business documents to secure a Sage Pay account. While Sage Pay has done away with a lot of the red tape that other providers insist on, it still has to comply with regulations set out by PASA (Payments Association of South Africa), and the FSB (Finical Services Board). The entire Sage Pay sign-on process is done online.
3. Shout about it
Clearly display your trading terms and conditions and privacy policy on your Web site. Not only is this good practice in general, but Sage Pay will require this before it agrees to issue a merchant account.
For more information, contact a Sage Pay account manager on 0861 338 338 today.
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