moto (mail order phone order) are systems that allow businesses to take and manage card transactions remotely. This web-based payment system facilitates payment transactions that can be made by phone, email, or written requests.
Many businesses can benefit from a motorcycle payment system, including online retailers and takeaway outlets. moto payment systems are inexpensive and quick and easy to set up, benefiting businesses around the world in an increasingly contactless payment landscape.
what is a motorcycle payment?
A motorcycle payment is a virtual transaction that works in the same way as if the customer paid through an online card machine. the moto system communicates with the customer’s bank to ensure that the funds are available before authorizing the payment.
The retailer logs into a virtual terminal and then enters the relevant data, including the card number and the customer’s name, address and email address. once the customer’s bank has cleared the payment, the retailer receives confirmation and a receipt for the motorcycle transaction is automatically emailed to the customer. Like regular card readers, funds are typically received by the retailer within a few business days.
moto systems are especially useful for businesses that take orders by phone or email, such as take-out services and online retailers. They can also be useful for issuing vouchers over the phone, for businesses like nail salons or massage therapists.
what are the benefits of accepting motorcycle payments?
The ability to process payments remotely can bring many benefits to entrepreneurs and small business owners:
convenience: customers receive a fast, secure and convenient way to pay for goods or services without having to physically present a payment card.
Simple: A motorcycle payment system is easy to set up and use. the retailer can access the virtual terminal from any internet-enabled device from anywhere with an online connection.
Efficient: Optimizing payment processing systems leaves business owners with more time to focus on other aspects of the business.
multi-user access: Virtual terminals can be configured for multi-user access, allowing authorized employees to access the moto system and receive payments from multiple locations 24/7 of the week.
Reach more customers: Offering card payments over the phone, by email, or in writing allows businesses to expand their customer base and reach a larger audience.
save details: once a customer has made a motorcycle transaction, the system securely saves their card details for the next time. this speeds up the subsequent checkout process, increasing convenience for the customer and the retailer.
Split Payments: The integrated payment processing system allows payments in multiple forms of payment, including electronic gift cards, and customers can also split the cost of any transaction quickly, easily and without problems.
Collect: The customer’s bank authorizes each payment before it is processed to verify that funds are available and that funds are received by retailers in a prompt period of time.
how much do motorcycle payments cost?
square’s motorcycle payment rates are completely transparent. square takes about a third of the total fees, which goes directly to funding features and tools to help your business flourish. fees vary depending on the type of transaction.
Card processing fees are set by banks and networks, but are included in the low-cost fees set by square. each fee consists of several components. These include interchange fees, assessment fees, and risk and PCI compliance fees. the lower the risk of each transaction, the lower the overall fee.
There are several types of transactions that can be made without a card present. these include use of our virtual terminal for mail order telephone order transactions and are charged at 2.5% per transaction.
how can I set up motorcycle payments?
Business owners can set up a virtual terminal in minutes, with no upfront cost or monthly fees; there is only a small processing fee for each transaction. Once registered, the square virtual terminal can be used for motorcycle payments. the terminal can be used by any member of staff you choose and each transaction takes no more than a few minutes to complete.
customers automatically receive a receipt directly to their inbox after each transaction and all data is securely stored in the dashboard for your benefit.
square users can also accept card-present payments with a wireless square terminal connected to their computer to provide seamless transactions in any format.
the virtual terminal can be seamlessly integrated into your business alongside other square solutions such as square billing, square point of sale, and square check-in for a seamless online shopping experience.
virtual terminal transactions can be quickly and easily exported to popular accounting software platforms, such as xero, or downloaded for quick analysis.
Getting started with taking moto payments through square is quick and simple, and moto can help you reach more customers, accept payments from multiple locations from multiple employees, and help with payment records and reporting.
>