If you are an in-store merchant or the owner of an online shop, you must be sure you have a convenient way for your customers to make a purchase. The payment method you choose actually plays a major role in customer satisfaction and it should be an aspect of your business that is given careful consideration. Without customers being able to make a purchase, you will not be able to make a sale or a profit. This may all seem very logical, but for those who are new to the retail industry, this may all seem very daunting. Fear not! Below we will look at some of the different payment methods available.
The Different Types of Payment Solutions
Website payments:
If your business is predominantly in the form of an online shopping platform, you will have to have an integrated payment solution that is accessible to online shoppers. Website payments are easy, fast, and reliable online payments that will greatly benefit your business, all while providing the customer with a convenient check out system. Website payment solutions require very little integration and are aimed at online businesses with limited technical resources. Once your customer has selected their products for purchase and they are ready to check out, they will be redirected to a secure payment page. This secure payment page is hosted by your chosen payment solution company. This method of payment is simplified from the integration phase and little time is required for the integration process. In addition, a web developer from the payment solution company you have selected will be able to configure the look and feel of the payment page to match the look and feel of your online store.
Pay by Link:
Paying via link or email is a payment solution created for merchants who send their customers a payment request in real time. There is no redirected page the customer is taken to. The merchant instead obtains the email address of the customer during the transaction interaction, and sends the customer a link via email, which immediately requests payment. These requests can be set with a validity period if you as the merchant choose to have it that way. You can also attach an invoice to the link payment request if you wish to. The email contains a personalised message to the customer, requesting them to complete the purchasing process by following the URL link attached to the email. Once the customer clicks on the link provided, they are taken to a secure one-time payment page. This is the page where the customer will enter their private credit card details and both parties involved in the transaction will be notified once money has been paid or received.
Card Machine:
This is the payment method most people are familiar with. In the world we live in today, most merchants are rooting for cashless payment methods. It is hassle free and more secure. Card machines work best for those who have physical stores. Card machines offer both the merchant and the customer maximum convenience.
If after reading this, you remain unsure on which solution will best suit your business, find payment solutions companies to give you further guidance in your decision-making process.
