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Accepting Online Payments Stripe WordPress

How To Accept Payments With Stripe for WordPress

Setting up Stripe for WordPress is quick and easy with Payment Page
San Francisco, CA, USA, March 15, 2021: Woman holding a smart phone with Stripe app on the screen. Stripe is an American financial services company. Business and finance

Are you a freelancer or entrepreneur running a business through WordPress? Adding a payment option right on your website is a great way to increase conversions.

According to a study by the Baymard Institute, 18% of customers abandon their carts due to a complicated checkout process. Adding a payment option to your website instead of redirecting your customers to a third-party payment page will simplify your checkout process and increase your conversion rates.

So, how do you enable payments through your WordPress website?

You’ll need a payment gateway.

A payment gateway is a service that acts as an intermediary for monetary transactions between a buyer and a seller. Payment gateways enable customers to use different payment methods such as wallets, credit cards, debit cards, and bank transfers.

In recent years, many payment gateway providers have appeared on the market. Stripe and PayPal are among the most popular gateways — around 3.2 million websites across the globe use Stripe to accept online payments. Stripe offers easy setup and a flat rate fee, making it an excellent choice for freelancers and other small businesses.

To set up Stripe for your WordPress website, you’ll need to install a To set up Stripe for your WordPress website, you’ll need to install a Stripe WordPress plugin, like Payment Page.

Let’s see how you can use Stripe for WordPress to accept payments and donations.

Here’s what you’ll learn:

Stripe Payment Gateway Basics

Setting up Stripe for WordPress is quick and easy with Payment Page

Stripe is a payment processing platform that lets customers pay on a merchant’s website. When a customer makes a payment on a website, Stripe processes that payment and transfers it to the seller’s account.

Stripe Supported Payment Methods

Stripe offers diverse payment options, empowering your customers to pay using their preferred payment method.

The Baymard Institute study found that 9% of customers abandon their online shopping carts if there aren’t enough payment methods. While that number may not seem high, why take the risk when you don’t have to?

Offering diverse payment choices by setting up Stripe for WordPress will help your customers quickly finish the checkout process.

Stripe supports a wide range of payment options for online transactions, such as:

  • Credit and debit cards
  • Wallets, including:
    • Google Pay
    • Apple Pay
    • Alipay
    • WeChat Pay
    • Microsoft Pay
    • Click to Pay
  • Bank directs debits and credit transfers
  • Bank redirects
  • Buy now, pay later methods

How Does Stripe Work?

A business needs a merchant account to accept credit or debit card payments. When you use the Stripe payment gateway, you won’t need to open a merchant account as you’ll be using Stripe’s.

Here’s what happens when a customer makes an online payment on your Stripe-powered WordPress site:

  • Stripe encrypts the payment information and sends it to the business’s bank (acquirer).
  • The transaction passes through the credit card network to the customer’s issuing bank.
  • The issuing bank verifies the transaction and transfers money to the acquiring bank.
  • The acquiring bank deposits the money in Stripe’s merchant account.
  • Stripe transfers the money from the merchant account to the online store owner’s account.

Stripe Payment Gateway Fees

Stripe doesn’t have monthly or yearly fees. Instead, it debits fees per transaction. Stripe charges a flat rate of 2.9% plus 30 cents per transaction for online wallets and debit and credit card payments.

For bank account transfers, Stripe charges the below transaction fees based on the type of transaction:

  • ACH credit: $1 per transaction
  • ACH debit: 0.8% per transaction
  • Wire transfer: $8 per transfer

Now that you know how Stripe works, let’s get into how to set up Stripe on your WordPress website.

How To Set Up Stripe on WordPress

After opening a Stripe account, you’ll need to install a Stripe WordPress plugin to start accepting payments on your WordPress website.

E-commerce plugins like WooCommerce come with Stripe integrated. If you don’t want to create a complete e-commerce checkout, go for a standalone Stripe plugin like Payment Page.

Stripe also offers a new payment link feature where merchants can create Stripe-hosted payment links and share them across emails, messages, or chats. Alternatively, you can redirect your customers to a page hosted by a third-party payment gateway.

Let’s look at each of these options in detail.

Standalone Stripe WordPress Plugins

Stripe WordPress plugins are the simplest way to set up a payment page on your website. Some of these plugins offer both free and premium plans. You’ll find two types of Stripe plugins:

Plugins for Payment Buttons

If you have a product page and need simple payment buttons, you can use plugins like WP Simple Pay. Once a customer clicks the pay button, a payment form pops up to collect the customer’s card details.

While these plugins are simple, they offer a very basic payment form. You won’t be able to customize your payment page or collect additional customer information.

Stripe Plugins With Payment Form

If you want to create a beautiful payment page to match your brand, you need to go for form-based Stripe plugins. These plugins will integrate Stripe with your website and empower you to design a customized payment page.

You’ll find several form-based payment plugins like Payment Page and WPForms. Some of these plugins provide a simple form with basic customizations. But plugins like Payment Page offer advanced customization and styling options to create versatile payment pages.

Accept Stripe payments through customizable payment forms.

Top Stripe WordPress Plugins

Here are a few standalone Stripe WordPress plugins that’ll help you enable Stripe payments:

  • Payment Page
  • WPForms
  • PaySimple
  • WP Simple Pay Lite/Pro
  • WP Full Stripe
  • WPSmartPay

Stripe Integrated E-Commerce Plugins

If you’re planning to build an online store with a full e-commerce checkout flow, you can go for WooCommerce or Easy Digital Downloads. These plugins come with Stripe integration.

While this option is suitable for an e-commerce store, building a full-fledged WooCommerce store might be overkill if you just need to offer a few services or set up a subscription service.

Stripe Payment Links

Payment Links is a new Stripe functionality that helps you create a simple payment page hosted by Stripe. You can then share a link to your hosted payment page over email, WhatsApp, or social media channels.

While Stripe Payment Links is a simple option to set up a payment page, you’ll only get limited customization options. Also, a payment page hosted on a domain outside your business’s website might not look very professional.

Link to a Third-Party Payment Gateway

If you don’t want to make changes to your website, you can redirect your customers to a payment page hosted by a third party. While this option is quick and easy, redirecting your customers to a different page may add checkout delays and lead to cart abandonment.

How To Accept Payments on Your Website Through Stripe + Payment Page

Payment Page is a Stripe verified partner.

With Payment Page, you’ll be able to create beautiful, Stripe-powered payment forms that match your brand. Payment Page is a Stripe verified partner vetted by Stripe for security and quality of service.

Payment Page is suitable for freelancers, coaches, NGOs, and other online businesses. With a few simple steps, you can accept donations or create subscription plans.

Here’s a step-by-step guide on how to create a beautiful Stripe-powered payment form:

5 Steps To Set Up a Stripe-Powered Payment Form

Step 1: Download and install Payment Page on your WordPress website.

Payment Page offers a freemium account if you would like to experiment. We also offer Premium, Pro, and Personal plans if you need advanced features. Before starting out, ensure your website has an active SSL certificate for secure data transfer.

Step 2: Connect your Stripe account in test or live mode.

On your WordPress dashboard, click the Payment Page icon to connect your Stripe account to WordPress. You can connect Stripe in test mode first and if everything looks good, enable Stripe payments using the live mode.

Connect your Stripe account using Payment Page plugin

Step 3: Activate the Stripe payment options you want to include.

Payment Page supports all Stripe payment methods like credit cards, debit cards, and wallets. We’ve also added Plaid + Stripe integration to accept ACH direct debit or credit.

Choose the Stripe checkout options you want to offer

Step 4: Import and customize a template.

Payment Page has 11 stylish payment form templates to cater to any online business — freelancers, NGOs, coaches, agencies, or SaaS. Once you import a template, configure the fields of your payment form and save changes.

Payment Page has 11 beautiful templates, and we’ll add new templates soon.

Step 5: Publish your payment page and start accepting Stripe payments on your WordPress website.

Final Thoughts: Accept Online Payments by Setting Up Stripe for WordPress

Millions of websites rely on Stripe to accept online payments. Creating a Stripe-powered payment page will boost your conversion rate. Stripe is a PCI Level 1 service provider, which means you can trust the service with your customers’ credit card information.

You have multiple options to set up Stripe payments on your WordPress website, such as:

  • Stripe WordPress plugins like Payment Page
  • Stripe integrated e-commerce plugins
  • Stripe payment links
  • Third-party payment pages

Are you ready to take your business to the next level by accepting online payments? You only need a few minutes to set up a highly customized, Stripe verified payment form with Payment Page. Get started today.

Categories
Announcements PayPal Stripe

Here’s What’s New With Payment Page

Payment Page Feature Update WordPress Payment Gateway Plugin.

We’ve got some great news! The Payment Page features we’ve been working on for the past few months are now available. In addition to the much awaited PayPal integration, we’ve added more Stripe payment methods, 11 stylish payment page templates, and a multitude of payment form customization options.

Keep reading to see how these new Payment Page features will help you create a beautiful and effective payment page for your business.

Multiple Payment Gateways are Now Available

Do you have customers around the world who have diverse payment preferences? Our new multiple payment gateway integration gives you access to over 20+ different payment methods to accept payments globally, which can have a strong impact on improving your conversion rates and closing the deal.

As we add more gateways and their corresponding payment methods, we’ll be sure to keep you updated, but here’s what we’ve done so far:

Payment Page Now Supports PayPal

With 426 million active users, PayPal is one of the most popular payment gateways in the world. With PayPal support, you can now make your payment forms truly diverse.

It only takes one click to connect your PayPal account with Payment Page. You can instantly start accepting payments from your customers with the Standard PayPal email checkout flow. Soon, we’ll be adding:

We’ve Added More Payment Methods to Stripe

Payment Page offers multiple payment methods powered by Stripe. You can now create a Stripe-powered payment form with the following payment methods:

  • Credit and debit cards
  • Apple Pay
  • Google Pay
  • Microsoft Wallet
  • WeChat Pay
  • Alipay
  • SEPA Direct Debit
Choose the Stripe checkout options you want to offer

Stripe + Plaid Integration for ACH Debit

We’ve also added the Stripe + Plaid integration, so your customers can now pay directly from their bank accounts using ACH Debit.

Fully Revamped Templates To Support Any Business Niche

Who says online payment forms can’t be beautiful?

At Payment Page, we love creating diverse templates for every business niche, so we’ve designed a collection of brand new stylish payment page templates. From Enterprise SaaS companies to yoga teachers, and freelancers to flower shops, anyone can start accepting payments with our eye-catching templates.

Payment Page now offers 11 exciting templates customized for:

  • Freelancers
  • Consultants
  • Non-Profits
  • Agencies
  • Coaches
  • Online Tutors
  • IT Support Reps
  • Yoga Teachers
  • Flower Shops
  • Content Writers
  • SaaS

These templates are fully customizable with the Elementor page builder, and we’ll be adding support for more page builders soon. We also have several customization options you can play around with and have fun designing your custom payment form.

Payment Page has 11 beautiful templates, and we’ll add new templates soon.

Plus, we’ve created a new settings user interface and first time user experience so you can quickly onboard your payment gateways and select a template.

New Customization Options for Payment Forms

Payment Page offers tons of customization options for payment forms, and we’ve added some more, like:

  • Drag-and-drop to reorder form fields.
  • Form field column width customization for up to 6 fields on a single row.
  • Responsive settings to adjust the column width on mobile.
  • Custom form fields.
  • Custom dependent fields based on pricing plans or payment methods.

Want us to add a specific feature or another Stripe payment method? Vote for a product idea or reach out to us through our suggestions page, and we’ll add them to our Roadmap. We’re eager to hear from you and love community requests!

Categories
Announcements Stripe

Payment Page is now a Stripe Verified Partner!

Payment Page is a Stripe Verified Partner
We’re excited to announce that Payment Page has become a Stripe Verified Partner!

What does being a Stripe Verified Partner mean?

Our team is thrilled to achieve this milestone because Verified Partners undertake a rigorous security and verification process, so that everyone can be confident in the quality of a partner’s integration with Stripe.

Our team at Payment Page can now provide better experiences for our amazing customers because we have access to partner webinars, exclusive invites to product betas, and dedicated support to streamline issues.

Here’s our Stripe Partner Program listing.

Learn more about getting started with Payment Page on Stripe’s website.

About Payment Page

Payment Page helps small businesses get paid online with beautiful and fully customizable payment pages. Host your page with us, build your own page with our WordPress Plugin, or even create payment pages for your multi-vendor marketplace.

About Stripe

Stripe is a technology company that builds economic infrastructure for the internet. Businesses of every size use the company’s software to accept online payments and run technically sophisticated financial operations in more than 100 countries.
Categories
WordPress

How to Accept Payments on WordPress

Screenshot of the WordPress Admin Dashboard
This article is all about how to Accept Payments on WordPress.

Let’s go through some of the best methods of accepting payments on WordPress and share some advice on how you can get started accepting payments today.

Continue reading “How to Accept Payments on WordPress”
Categories
Featured

How Can My Business Benefit from Having A Hosted Payment Page

Person Paying with Card Online

Whether you’re selling a product, subscription, or other services, incorporating a hosted payment page isn’t as easy as you think. You’ll need to establish a framework for accepting and processing payments, creating order confirmations and invoices, and transmitting the data for the purpose of fulfillment. Through the use of a Payment Page, you can be sure to have lots of advantages.

1. It’s easy to set up

Hosted payment pages are ideal for SMEs who are on the lookout for the quickest way to start accepting payments. Setting up a payment page takes little to no technical know-how and can be as easy as copy-pasting a line of code onto your website. 

2. It provides enhanced security

When self-hosting payment solutions, the responsibility of managing, transmitting, and protecting sensitive data lies entirely on you. With a hosted payment solution, you can outsource data protection and keep your business less at risk of fraud. 

3. Checkout processes are simple

If a customer has previously abandoned their cart due to an overly complex payment system, hosted payment forms making checking out much more effortless. Navigation is intuitive, mobile-friendly, and supports a variety of payment tools and options.

Choosing a Hosted Checkout Page

Though they may inherently serve the same purpose, not every hosted payment system is identical. Picking the wrong provider can affect your conversions tremendously, so ensure that you’re working with a third-party such as Payment Page! When shopping for a payment provider, consider the following. 

1. Is it easy to integrate?

When it comes to a hosted payment page, integration should be uncomplicated. If your chosen provider is outlining a process that appears to be too complex, it may not be worth your time. 

2. Is it customizable?

Payment pages are fairly straightforward but also need to reflect your branding. Payment Page curates beautiful checkout pages that are easy to navigate and pleasing to the eye. This better optimizes the checkout process for picky buyers.

3. Does it offer a variety of payment methods?

The majority of online users prefer credit cards as an available payment method, so if you’re only incorporating cash on delivery or bank transfers, it’s important to consider other methods of receiving payments. Payment Page currently offers Stripe as its primary option and is working towards incorporating other payment options such as PayPal. 

4. Are global options available?

Cross-border eCommerce is constantly and rapidly on the rise, encouraging merchants to consider international payment solutions. Beyond incorporating a payment page that supports multiple languages and currencies, Payment Page employs Stripe, which makes it easier for Asian customers, for example, to take advantage of its WePay extension. 

Conclusion

For any eCommerce business or web agency, a hosted payment page can secure sensitive customer data, improve their checkout experience, and make accepting payments that much simpler. You never know—you might even see your conversions rise!

For payment forms that are visually stunning, easy to use, flexible with global payments, and impenetrably secure, sign up with us at Payment Page! With us, your payment processes are made easier with a plugin that delivers results. 

Categories
eCommerce

Why Your Business Needs an Optimized Checkout Process

Online Payments

When it comes to online shopping and retailing websites, customers want a streamlined, hassle-free experience. What this means is that they want the least amount of steps possible from opening the website to checking out their orders. If you are a webpage owner, it might be the right time to have a look at whether or not your customers are getting the best shopping experience. 

Studies have found that badly optimized websites, and eCommerce websites that have too many steps to fulfill have seen an increase in cart abandonment. This is because people want a hassle-free experience, which you should be providing to get the best conversion rates. 

Every eCommerce checkout process includes the same basic elements for a successful transaction, which are the following: personal details, delivery options, and payment information. While this is mostly successful, not all buyers pull through with their purchases. Some customers could have had doubts about the integrity of the merchant, or because the checkout process was too complicated and they gave up. These are the reasons why you need to optimize your checkout procedure for online retailing, which will be discussed below:

What Is Checkout Optimization?

In eCommerce, checkout optimization means keeping customers excited about their purchase even while filling out the boring albeit necessary forms, making sure nothing stops completion. The trick to the whole process is layouts and perhaps even using a payment page builder. 

Streamlining The Layout Of Your Checkout Area

The first tip is to create a one-page checkout page. While a trend in eCommerce is to utilize multi-page checkouts (e.g. page 1 has personal information, page 2 will be shipping methods, etc.), studies found that they aren’t all that great. If customers have any inclination to exit, whether it stems from tiredness, anxieties, feeling rushed, this is when customers will take the way out. 

By utilizing apps like Stripe checkout, you can cut down the steps needed per page by making everything into one whole checkout form that looks secure and clean. 

The second tip is to limit options for things like shipping to two of the most sought after–cheap or fast. Additionally, don’t require customers to create an account to purchase a product, and guide them through checkout making the choices obvious and providing easy instructions. 

Another tip is to remember that not all customers take the time to read everything on your website, so make sure that the purchase buttons stand out to ensure the correct ones are clicked and redirected to the checkout page. Also, note that after the purchase is completed customers know when they can exit the page or if there are any next steps they have to take. If not, redirect them to a thank you page and email them the necessary tracking information and numbers for contact. 

Reduce Checkout Page Distractions

While your site may look awesome, you do not need to make the payment page look just as awesome. By using a payment page builder, you can add only the necessary tools and information needed for the customer to complete their order. This is because the chances are that they are already persuaded that your product is good once they reach the checkout page. 

Some tips to consider when building the checkout page are to hide navigation options that lead them off the page accidentally, remove ads and banners, and remove visual clutter around it. Your end goal is to get them to buy, so make sure that they are staying on task towards paying for your product and finally buying it. 

Conclusion

Using apps like Stripe checkout are good ways to streamline your eCommerce checkout process because of its modularity and versatile design. Remember that customers are often impatient and easily irritable, especially when it comes to bad web design and shady websites. Make your website stand out not just with good web design, but with trouble-free and easier ways of checking out to  anyone who aims to purchase your products. 

If you are looking for the best payment page builder integrated with Stripe checkout, Payment Page can help you with growing your business through the final parts of a sale. With the ability to accept payments from all over the world with different payment methods, your eCommerce website will easily grow into an international retailing powerhouse with our help. Contact us today if you are an entrepreneur or small enterprise owner looking for ways to streamline your sales processes. We will be happy to help.

Categories
Marketing

Three Ways to Achieve Effective Checkout Pages for Higher Conversions

Shopping on an Ecommerce Site

No matter how far the modern business landscape has come, the common problem of shopping cart abandonment is one that continues to persist among all types of businesses.

Whether you’re selling car parts, food products, shoes, or clothing, customers will go through everything you have on sale, read all the available reviews, and put in their order, only to abandon their plan and not pay at all. This particular problem has become so common that almost 70 percent or shopping carts are left abandoned and eventually act as a pillar of potential profit that is never realized. 

As annoying as this issue may be, the truth is that it’s only a mere indicator of a bigger problem at hand: There are other details on your payment page that are causing lower conversion rates. 

A further explanation

While there may be many different ways to explain why shopping cart abandonment is at an all-time high, the main explanation that any e-commerce website owner should be aware of is the expectation of seamlessness.

Although most owners can argue that nothing could possibly be perfect when it comes to putting a checkout page together, the truth is that customers expect near-perfection in every purchase. Certain mistakes, such as long load times, hard-to-read texts, and fields that are inconvenient to deal with all pose the significant risk of having more abandoned carts, which can lead to compromised returns. 

On avoiding abandoned shopping carts

Fortunately, solving the problem of shopping cart abandonment isn’t an impossible feat as most claim it to be because any situation can be turned around with the help of a few simple, yet effective tips. If you want to reduce the occurrence of this issue, take the time to incorporate these key pointers into your next hosted payment page or Stripe checkout page update:

Tip #1: Streamline your checkout process by reducing the number of form fields

When people turn to the Internet to satisfy their wants and needs, they don’t want to end up typing into a long-winded essay form that’s no different from a credit card or mortgage application.

Once the customers make up their minds, it’s absolutely essential that you capitalize on the period of intended purchase before they change their minds by streamlining the whole process. A quick and easy way to do this is to use Payment Page’s customizable fields to get straight to the point and ask customers only for the exact pieces of information you need! By taking the time to cut down the number of fields needed for entry and eliminating unnecessary steps, you can shorten the fill-in period and streamline your way to profits!

Tip #2: Add guarantees to your checkout page

Among all the different motivating or driving factors that cause potential customers to drop their orders before paying, none are more pivotal than the security concerns that they have.

Customers now are inclined to watch out for their safety by double or triple-checking the legitimacy of checkout pages because of the sensitivity of their information. Fortunately, you can easily circumvent this problem and assure your customers that their information is stored securely by adding security badges and using Payment Page to make your checkout page look far more authoritative!

Tip #3: Outfit your checkout page with more payment options

Aside from security, one of the most pivotal reasons most customers end up leaving their shopping carts is the concept of payment options, or the lack thereof. With the help of Payment Page, however, you can easily avoid losing potential customers by adding more payment options for your customers to use so that you can easily accept customers worldwide!

Conclusion

As troubling as the experience of having high shopping cart abandonment may be, you can simply solve the problem at hand, and best prepare yourself for success by making a few tweaks to your checkout page. With the help of the three tips mentioned above, you’ll be able to start seeing an improvement in your results right away and prevent any problems from coming up in the long run!


If you’re looking to accept credit card payments worldwide or use ACH bank transfer with an appealing and effective form on your website, then Payment Page is for you. You can easily build a custom payment form to have a more profitable business with a user-friendly tool in an instant!  Get in touch with us today to see how we can help!

Categories
eCommerce

Payment Processing Mistakes You Might be Making and How to Avoid Them

Ecommerce Website

How you design your payment page can dictate whether or not you achieve a conversion. Though your payment options may be plentiful, an inefficient processing system may result in unnecessary expenditures or unprotected data. If you’re making any of the following processing mistakes, it may be time to reevaluate your partnership with your provider or outsource solutions if you haven’t already incorporated them.

1. You Lack Payment Options 

Though a fairly elementary concept, it can be easy to settle for a basic credit card and cash on delivery payment option for your consumers. After all, you want to start  selling as soon as possible. However, if you’re targeting clients who prefer to make purchases using mobile wallets, for example, foregoing the option entirely can hurt your prospects in the long run. 

2. Forgetting to Ask Important Questions 

Though some queries on your laundry list of questions may seem trivial, it’s important that you ask any potential credit card provider every single one. Glossing over something you feel is unimportant can, in fact, cause trouble down the lane. The relationship you’ll have with your provider is a long-term one, thus encouraging transparency will help them better meet your needs. 

3. Completely Overlooking Chargebacks

Every eCommerce business knows the horrors of a chargeback. Whether a customer has filed a fraud claim due to a forgotten purchase or failed to recognize a purchase made by another family member, most chargebacks are caused by innocuous oversights. However, others may be driven by more malicious reasons such as dissatisfaction with your product or feeling misled. 

To avoid unnecessary chargebacks, ensure that the overall shopping experience you provide is intuitive, streamlined, and descriptive. Don’t make any promises your product can’t surely deliver and avoid vague product descriptions. Ensure that your payment form is user-friendly that your terms and conditions, along with your shipping and returns policies, are clearly communicated and easy to access. 

4. Overpaying Processing Providers 

If there’s one thing business owners adhere to most, it’s that every dollar counts. If you’re spending far more than you should on credit card processing for a fairly mediocre job, you’ll need to zero in on discrepancies you may not have noticed in the first place. As a general rule, doing your research on a credit card provider can help you avoid unmerited charges. Consider whether a provider is capable of meeting your needs at competitive rates without hidden charges. 

Make sure to review your statements every month and consider whether or not you’re spending far more than you can account for. Similarly, if you have a little bit of financial wiggle room and aren’t satisfied with the service you’re getting, you might consider a more capable provider. 

Conclusion

Accepting payments isn’t as simple as opening a bank account for your business. You’ll need to develop an understanding of various payment methods and how best to process these. A responsible payment processor will not only take on the job for you but will also help you make more informed decisions regarding your payment schemes. 

By signing up with Payment Page, you can fully customize your payment forms using a versatile payment page builder. We can help you accommodate all types of payment methods and create beautiful designs that get you converting in no time.

Categories
eCommerce

Tips for Protecting Your Business From Remote Payments Fraud

Woman Making a Credit Card Payment on her Computer

As business owners step away from in-store purchases and focus primarily on online options during the pandemic, it’s important to review the implications of remote payment fraud. Especially for businesses that don’t primarily function as an eCommerce enterprise, remote payment options can appear intimidating. As online alternatives continue to keep businesses afloat, protecting your operations from fraud is a must. Here’s how you can get started. 

1. Arm Your Payment Page With the Address Verification System (AVS)

A hosted payment page removes the security provided by a physical credit card, ID, and being able to interface with a customer in person. Thus, some remote credit card terminals will charge higher rates on transactions that require additional information regarding a customer’s billing address, zip code, and contact information. 

These additional requests manifest as AVS prompts and can result in fraud if they are dismissed. Responding to AVS prompts can take time away from your hands but can help reduce the risks of fraud and keep your rates low. 

2. Sell Only to Known Customers

New prospects are what make a business flourish but if you aren’t well-versed in accepting remote payments, can also lead to potential fraud. This is particularly true when it comes to accepting subscriptions, as customers sometimes receive products before their credit card is charged.

Incorporating an anti-fraud system takes time, so prioritizing known and trustworthy customers, meanwhile, can protect your business from losing money. Nowadays, lifelong customers tend to patronize their favorite businesses on a regular basis, which you can easily take advantage of while you consider your options. 

3. Trust Your Gut

While it may seem counterintuitive, trusting your instincts when it comes to evaluating a sale that seems too good to be true can keep fraudulent transactions at bay. Perhaps you’ve come across a customer whose billing and shipping addresses don’t match or whose credit card information simply won’t go through. If so, you may be better off foregoing the sale or even choosing to temporarily suspend international or out-of-state orders. 

4. Create an Electronic Defense System for Sensitive Data

Not only does a robust security system protect your customers’ data—but it also protects your business. By adhering to PCI security standards and assessing any third-party provider’s cybersecurity risk, you can build an impenetrable payment system that allows clients to trust you and you to trust your clients. When outsourcing a payment processor, review their disaster recovery strategy and consider whether their protocols align with yours. 

Conclusion

No business owner wants to lose a sale but while some of these practices may seem unnecessary or over-the-top, they’re also useful in preventing scams and chargebacks. Over time, you may choose to relax some of these measures but should prioritize AVS for over-the-phone transactions. 

With Payments Page, you can incorporate branded elements into your payment portals such as unique payment buttons and a stunning design that reflects your business. Better yet, you can ensure that your transactions are fully protected and that your payment gateway displays comprehensive business information to clients. Ready to accept payments? Sign up today with a 30% discount!

Categories
eCommerce

Recurring Revenue: What Is It and What Are Its Benefits

Revenue Graph

Online businesses benefit from having recurring revenue. This business model centers on a product or service that people purchase regularly. An example of this is subscription-based services that customers pay for on a monthly, semi-annually, or annual basis. 

Recurring payments allow a business to compute more accurately the return on their investments, and it helps reduce the time they spend on related tasks like marketing to new audiences. Here are some things you can expect if you adopt this model for your business.

Steady and scalable monthly income

It is easier to sell to existing customers than finding new people to opt into your service or product. People who are already making monthly payments are likely to keep paying. Furthermore, if you have a recurring revenue business, you do not need to trade your time directly for money. You can grow your business faster since you have a cushion for your efforts.

Increased lifetime value for customers

Recurring revenue lets you increase the lifetime value for your customers. If they pay for something regularly, it is an incentive for you to keep improving your product and adding bonuses that they would find engaging. It means more purchases, which leads to a higher ROI on the money you spend. When you increase your number of subscriptions, you can focus on customer acquisition and retention and make a bigger impact.

Time for your business to strategize better

Companies built around one-time purchases have to market and promote their products every month. With recurring payments, you can keep selling to the same group of people and not worry as much about being unable to meet your sales goals. This business model also allows you to optimize your business and make it more suitable for recurring revenue. You can start by looking out for these three things.

1. Know why you want subscription-based services

Do you want more revenue, more customers, or to reach another goal? Identify your goals at the start to lock in the best pricing scheme for your product. If you are tying your revenue to a pricing strategy, you need to be strategic—you cannot change your fee schedules on a whim, or you will alienate customers. Being able to justify your pricing model will help you find the best price points, differentiate the tiers, and bring in appropriate bonuses or add-ons.

2. Concentrate on customer satisfaction 

Your business relies on how happy your customers are about your products. When people sign up for subscriptions, they need to have as great an experience as possible. If you focus on their journey, you will surely see an improvement in your acquisition numbers. Furthermore, a great onboarding process will lead to people being more willing to pay for your products.

3. Make it easy for them to make payments

There are plenty of complex processes involved in billing, and you have to know what these are for you to succeed in implementing this business model. One way to make things easy for you is by teaming up with a hosted payment page provider, or a company that creates plugins for websites. This way, you can build on structures that other companies use, taking one thing out of your to-do list.

Conclusion

This is the best time to start a recurring revenue business. Membership websites and SaaS providers are all over the internet—people are used to the idea of paying a monthly fee. What you need to do is concentrate on delivering a product or service that they love.

Make the collection of recurring payments a breeze by using our services at Payment Page. After you create a hosted payment page with us, you can concentrate on giving customers the best product or service! Get in touch with us today for more details.

Payment Page, an innovative WordPress payment plugin, helps you create a customizable payment form in less than 60 seconds.

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