Online stores achieve this because of lower overheads. In fact, many online stores offer free delivery which is a recommended option for any business looking to gain a foothold in this tremendously competitive industry. Also of great importance is the number of payment options afforded to the consumer. Although paying by credit card is convenient, not everyone in the world has one this is why a successful Zimpler online payment options must offer alternative payment methods.
PayPal is one of the world’s most famous electronic payment methods. There are more than 230 million PayPal accounts worldwide which means that online stores would be incredibly foolish to ignore this as a payment option. PayPal offers a rapid payment method with the money often arriving in a merchant’s account within seconds. PayPal does have some downsides and limitations, however. Their user agreement document is 34 pages long and overly complex. The company also routinely freezes accounts, citing inadequate user information as one of their reasons. They also charge a fee of between 2-3% and offer an unfair exchange rate when converting one foreign currency to another.
The debit card is another convenient method of payment. With the money coming directly from a bank account instead of being charged on a credit card, there is no danger of having to pay late fees. The debit card is one of Canada’s favorite methods of payment with more than 35 million cards in circulation. With Interac Online, customers can pay securely without having to divulge any bank details. These merchants charge a fee of $1.50 per transaction.
Simply put, no online store can survive without an option to pay by credit card. More than $3 trillion was placed on credit cards in America last year for online and offline goods and services. Online stores looking to set up credit card processing need an internet merchant account to help deal with cards such as American Express and MasterCard. It is possible to get this account through a financial institution like a bank or a third party such as Moneris. Third party merchants do not ask for security deposits like banks do, are easy to set up and may include extras like an Internet gateway which is essential for card processing as well as a shopping cart. The downside is that these merchants charge higher fees than banks. For businesses that want to expand product and service portfolios, attract new money flows and new customers it is advisable to use White Label Payment Gateway. With its help, you will easily find new customers and be able to maintain connections with your regular clients due to flexible transaction solutions. The visitors to your website, who want to purchase a particular item or order a package of services, will get the opportunity to settle money transfer using debit and credit cards, electronic wallets, etc. Having intuitive, user-friendly, universal transaction solutions, your regular and potential customers will most probably stick with your company. Therefore, the result of Online Payment Processing acceptance is business growth.
The benefit of online payment system is the fact that you do not need to add some extra payment options or technology resources to process online payments because White Label Payment Gateway is a full-fledged payment solution. You can be sure that it involves the best technologies as well as powerful security and fraud detection systems that ensure fast and effective Online Payment Processing. Besides, the system platform uses the logo and brand colors of your company.
In summation, an Zimpler online payment options should have as many different payment methods as possible. If your store caters to the above trio of options, 99.9% of online shoppers will be able to purchase goods from you. It is also possible to offer options such as payment by post, but this is time-consuming and risky. Electronic cash is the way to go for lightning fast payment and peace of mind.