Why Do Companies Adopt An Online Payment Solution?

Why Do Companies Adopt An Online Payment Solution?

When we mention the advantages of online banking with a Visa card to buy a product on the Internet, we often place ourselves on the customer’s side. Online payment services are also very advantageous for banks and merchants, provided that transactions through the system with a credit card are carried out securely. As with online invoicing and invoice management, entrepreneurs sometimes find using a web-based online payment solution tedious, expensive, and risky.

However, banks and owners of virtual shops think the opposite and increasingly recommend these means of remote payment, which avoid withdrawing money. Overview of the main advantages that encourage companies to adopt an online payment solution and Facebook’s Outage and PCI.

What Are The Benefits Of Getting Paid Online?

Online payment solutions like E-Complish for example, purchases, and sales in three steps

Merchants with an online payment solution send a clear message to their customers. They tell them that if they wish, they can make and pay for their purchases remotely on the Internet, from a computer or a mobile terminal, with a visa or other credit card issued by a banking entity. If he uses a certified solution, the merchant guarantees his customers that the banking transactions and other payment methods are 100% secure. When the buyer fills his basket and confirms the purchase, the sales process is carried out in three main stages.

  • Merchants email their customers an invoice that summarizes the details of the purchase
  • The customer checks his invoice and makes the payment online, usually with a bank card
  • The seller receives a notification, and the amount due is paid into their bank account, usually within 24 hours

How Much Does An Online Payment Service Cost?

The price of an online payment solution varies depending on the provider and its structure. Some players offer advanced tools, with a very responsive and available technical team that solves problems on the terminal in real time. This type of advanced system has a cost but can, in the long term, prove very profitable. Publishers of online payment solutions such as PayPal do not charge for setting up the service and using the terminal. They receive a commission on each bank transaction, which most often varies between 1 and 3% of the price of the item sold on the Internet.

Compare The Different Online Payment Solutions

It is advisable to take the time to compare the different online payment solutions before making your choice. This meticulous study must take into account several determining factors for the profitability of the company and the security of transactions:

  • service activation and transaction fees, both fixed and variable
  • the mechanisms used to guarantee the security of payments
  • the features that merchants can access
  • the time it takes for sales to be credited to the merchant’s bank account after the purchase
  • bank cards compatible with the solution
  • the banking entities that collaborate with the system setup, in particular, your bank
  • the place and method of storing the data
  • software or service certifications that guarantee data protection
  • the reputation of the supplier
  • the possibility of carrying out a transaction throughout France and abroad;
  • user reviews
  • ease of installation and use
  • comparisons published on the Internet by sites and organizations specializing in online payment solutions

If in doubt about the quality of a solution or the usefulness of such a payment system, it is sometimes possible to ask the supplier for a trial period.

Leave a Reply

Your email address will not be published. Required fields are marked *