Similar to the internet merchant account, the Mail Order Merchant Accounts & Telephone Order (MOTO) functions offers ‘cardholder not present’ (CNP) processing solutions. For the companies receiving the sales either online or by telephones, the MOTO accounts are to be created for such businesses in order to address the credit card processing.
A MOTO account is basically accessed from a webpage which is secured and is therefore operate-able from any part of the world with the help of internet. It is known as virtual terminal and enables the users to process the debit card and credit card transactions much easier and securely over telephone or fax orders or e-mail orders.
As these accounts are highly risky and deal with various businesses irrespective of their sizes and operation, it can be operated from anywhere across the globe. The transactions can also be made on holidays and the sales process can also be carried on the holidays. The biggest advantages of the MOTO accounts are Mobility and security.
As, there are several customers who hesitate paying online or place order or even giving the credit card credentials on the website looking unprofessional, now you can pitch those customers over telephone and close the deal by convincing by providing the detailed information of your services. You can also present them with option for processing the credit card instantly over the phone and seal the deal!
With Mail Order Merchant Accounts & Telephone Order (MOTO) accoutns, the payment processing through credit cards via a virtual terminal is very much advantageous for the eCommerce merchants.