Online payment is probably everyone’s go-to option; you know exactly how much you’ve got on you at all times with a simple check on your mobile banking app, you can handle all your payments entirely remotely and best of all you don’t need to scurry through your wallet to find the exact change. It’s simple, it’s so much more convenient and it’s the way payments will be made for quite some time.
But with the increase of interest in online payment methods, your simple VISA is no longer the shiniest card in your wallet. Mobile payments, crypto payments and so many other forms of technology driven online payments are in demand for businesses across the globe.
Not only do they get the payment needs sorted swiftly and securely, but they also come with nifty features and bonuses that help keep all e-commerce transactions secure and stable. Fraud detection and protection, analytics and reporting, saving methods, in-app insurance options and even perks such as VIP access are all possibilities.
Finding competitive ways to stand out in the market includes accessibility, giving your market the payment means that they need to effect a transaction could be the make or break in gaining or losing a client. Here are some options you might want to consider:
Using Amazon as your payment gateway and processor is a simple and convenient way to affect your ecommerce business. Amazon is probably the biggest portal for consumer goods and also partners with a multitude of businesses including PrestaShop, Shopify, OpenCart and BigCommerce. Activating this function as a business allows for the fre plug-in to feature on your site.
Apart from the reassurance and security that you’ll be providing to your customers, Amazon Payments are known for their fast check-out options that have always been met with good reputation. Using your Amazon credentials to checkout their goods is a familiar experience that will encourage friendlier user experience. As a business owner you can expect to experience anti-fraud detections in addition to a happier consumer base.
A subsidiary to PayPal, BrainTree is an all-in-one partner that handles not only the movement of funds, but is also considered a ‘white glove service’ that offers fraud detection and protection. Moreover, your customers will experience data security, reports and analytics by means of the user-friendly dashboard, allowing them to manage all their transactions. Another great feature is the email receipts that you will receive through the app – and BrainTree is also fully compatible with 3DCart, BigCommerce, WooCommerce and Yodle.
Deciding to integrate BrainTree with your business website is totally customisable, you can adopt the simple, easy-to-install approach or go for a full customisation of the platform, bringing in your own UI and UX experiences. Choose between BrainTree Direct and BrainTree Auth where a myriad of card options will be made available to your market base.
Due is known for its security in credit card and debit card processing, as well as time tracking and invoicing solutions – all offered at a low cost! The Custom Payment Solutions and even the Enterprise Solutions can be attained on a Standard Plan and could greatly benefit your business if you are an SME dealing with both physical products or downloadable services.
Due also allows its users to track their hours and invoice clients based on their billed time. This is a great feature for all entrepreneurs looking to hit two birds with one stone. There are so many in-built functions that could simplify your payment methods.
If it’s elegance and functionality you are looking for, Stripe might be your answer. Stripe is flexible and well-designed to give you the UX you deserve when spending hours on end on the same platform. Built with developers in mind, Stripe Checkout is simple to use and although professional in tone of voice and execution, does not require much technical knowledge.
You can easily embed Stripe onto your site with fraud prevention, banking integration and mobile access all at your fingertips. Stripe also accepts over 100 different currencies, cryptocurrencies and local payments.
Cryptocurrencies are all the rage at the moment, with big dog Bitcoin taking the lead and Ethereum trailing behind, effecting your online payments by means of crypto could be an ideal feature to include on your website. Crypto is nothing more than a digital currency that is encrypted and protected by the blockchain, it is decentralised for increased protection and will soon become the most common form of payment – not only online.
Understanding the pros and cons of cryptocurrencies, and accepting this form of payment as a merchant requires a lot of research and analysis, but the truth still remains that all those who have made the move to crypto will need to spend their money somewhere, and you should definitely be one of their options. As a perk, you will receive lower transaction fees as a vendor.
When collecting payments online, there are many options from which you can choose. Many, however, offer more than just payment processing, and such useful features, such as fraud detection and protection, reports and analytics, and so on, are certainly bonuses you should consider when making your decision. In this article, we presented some of the best options for collecting payments, and hopefully, there’s something that meets the needs of your business.
Be sure to research all the perks, insights and set-ups for each of the above online payment methods and also keep PayPal and Shopify in mind too. Sometimes your set-up requires a simple solution and in other instances a complex payment method solution.
If you’re not entirely sure which route you should take, contact 4Sight for expert advice, or even a full set-up of your online payments portal.