MOTO (Mail Order & Telephone Order) Merchant Account

MOTO (Mail Order & Telephone Order) Merchant Account

Customers are increasingly shifting towards plastic money to pay for products and services. With the changes in payment preferences, merchants need to be aware of the customer payment trends and take steps to adapt their businesses accordingly.

A Merchant Account basically allows a merchant to accept credit/debit card payments from your customers. Quality credit card processing services will not only enhance your business but also help it expand and grow.

There are different types of merchant accounts that are designed to suit your business requirements and demands. It becomes important that a merchant understands their business and customer preferences in order to obtain the right merchant account services.

Now, if you are a business that accepts orders from customers via phone or in-mail, then you should be looking for MOTO Merchant Account solutions.

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What is a MOTO Merchant Account?

MOTO stands for Mail Order/Telephone Order. It is a credit card processing system best used for card not present transactions. Products and services can be bought by customers and paid via e-mail, telephone or fax without the need for the customer or card present at the time of transaction.

With a MOTO Merchant Account, a merchant has to manually enter the card details into a payment gateway via a virtual terminal or web page.

This the most ideal solution a merchant who wants to go for Card Not Present transactions and can accept payments from anywhere in the world.

How does a MOTO Merchant Account work?

  • Payment details are sent to a merchant by the customer via mail order or telephone
  • The merchant then keys in the card details into a payment gateway via a virtual terminal
  • The transaction takes place in real-time and the end result is displayed on the virtual terminal

Accept Payments easily with IBS MOTO Merchant Account Solutions

Due to fraud and chargeback risks, MOTO merchants fall under the high risk category making it difficult for them to obtain merchant account services.

But there are quality merchant account providers like IBS that offer MOTO Merchant Account Solutions that are designed to meet the requirements of your business.

International Bank Services (IBS) based in London, UK & Europe is a leading merchant account provider that specializes in offering the best services to high risk verticals at affordable rates. With an extensive network of acquiring banks and significant experience in dealing with high risk merchants, we ensure the best MOTO merchant account solutions to merchants across various industries.

Before starting your hunt for a MOTO merchant account it is important to know whether there is a need for your business to obtain such services. Since it card not present transactions take place with MOTO merchant accounts, the processing rates for them tend to be a bit higher than regular accounts.

Another important point to take into consideration is that if you are a merchant accepting only MOTO payments, a MOTO merchant account is enough. However, if you also operate a e-commerce store, a payment gateway that accepts MOTO payments will also be required.

Are you considering getting a MOTO Merchant Account? Contact us now & Apply with IBS!

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