online payment solutions

Things to Consider While Selecting Online Payment Solution Provider for eCommerce Business

in Business

At present, more than fifty percent of the world prefers to buy items online. It is convenient and hassle-free. Online business success depends on sales. So, why risk sales potential by restricting payment options.

Customers get motivated to make purchases on websites that offer an array of purchase methods along with best payment methods. Accepting a single payment form or still depending on primitive ways will restrict your customer base growth and overall revenue.

However, make sure to select a secure online payment solution because payments conducted from your website need not disturb visitors. They should feel safe during the transaction and bond well with your business. Ease of transaction can affect sales, to determine a proper online payment solution.

Page load is not the only concern for an e-commerce website, but even smooth payment gateway experience is crucial. Bad payment options or bothersome payment gateway experience can cut your total sales.

There are abundant of good payment solutions available. Offering extra payment methods will certainly improve customer experience and produce more sales. Many businesses apply different digital payment methods, to handle the exploding online activity.

To make your payment process more secure businesses can integrate with professional e-commerce payment networks. There are many e-commerce payment networks, but while choosing to consider the following factors besides global reach.

On/off site transaction processing – User may be directed off-site for completing the payment like PayPal. PayPal is an e-commerce payment solution mediator, but users are transferred to an external website for making payment. However, with a small monthly service charge, you can enable onsite processing. Thus, the customer can complete entire payment process on your website.

Transaction fees – You will need to compare setup fees, transaction fees, monthly maintenance fees, and other relevant fees.

What is sold? – The selection of an appropriate online payment solution provider will depend on your kind of business.

Payment method types – Online payment solution providers differ in their ability to process different kinds of payment methods. For example, Bitcoins, credit/debit/gift cards, e-checks, ACH transfers, and third-party online payment.

Channels for outreach – It depends on your preference to enable transaction via the website or through mobile or through links via SMS or transaction links via 3 social media websites.

Fraud protection extent & chargeback terms – On the official website of probable payment solution services the terms regarding the extent merchant is liable will be published along with possible fines and associated fees. Determine your affordable limits and choose a suitable provider.

You can also visit this useful website to learn more about how you can put your SME on a fast-track path to success https://www.thepaypers.com/expert-opinion/grow-your-sme-with-online-payment-solutions/771102

Many e-commerce payment networks are available, but the services offered by Payment Asia is different, affordable, and much simplified. The back-end of any e-commerce business needs can be integrated with Payment Asia solutions.

  • Networking malfunction downtime is brought to zero
  • Optimal load balancing system keeps track of workflow in real time
  • Helps fraud detection
  • Resolves technical problems in minutes
  • Introduced ‘Chat-box’ for real-time inquiries
  • Automated reporting feature to be introduced soon

Choose payment solutions provider that offers several methods, so that you gain better customer response. Reaching the global audience requires business owners to understand top payment solutions related to their target market and ensure that your website accommodates those payments.

Make payment options and process as simple as possible.

1 Comment

  1. I strongly believe as stated in the last sentence the importance of having simple check out solution is the BEST SOLUTION.

    Also would add here additional factor to consider, which is targeted regions. If your customers are people living in India, China and Dubai let’s say, then it would be good to have a payment gateway that offers payment solutions that cover those three regions. G2A Pay for instance enables many local and global options that’s why I would put it as a first suggestion when it comes to international payment gateways. If your business is based on services with monthly subscription then you might consider PayPal for recurring billing.

    Nevertheless, I see it’s important to research and compare all the options available (PayPal, G2A Pay, Stripe, 2checkout..) in terms as was mentioned fees, security, set up and integration process

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