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Author: Brandon Ernst, Founder & CEO

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eCommerce

A Guide to Setting up an Online Payment Form Using an Outsourced Solution

client screenshot

North America spends over $25 billion in check processing costs each year. Every single check a company writes costs an additional $10. Switching to electronic payments helps reduce the paper, printing, mailing, and processing costs for these checks.

Making the shift, though, is easier said than done. It can be challenging to convert in-house processing systems, and not all vendors and contractors are willing to let go of physical check payments. A happy medium would be to set up an online payment processing option.

The benefits of having an online payment form

Online payment helps you save money. Employees who process checks can work on other tasks. What’s more, outsourcing means doing away with having to update payment processing systems onsite.

Moreover, securing financial data requires stringent protocols, and it makes your financial department responsible for managing incredible amounts of risk. Outsourcing takes the worry for cyber theft off your hands and gives it to a team specializing in it.

In addition to theft, check fraud is another thing that sellers and retailers should monitor. This type of fraud can come from inside the company or from people posing as vendors. An adequately certified external team will have the resources to prevent fraud.

What options are available for my company?

Online modes of payment have evolved beyond bank transfers and credit card purchases. Here are some of the most common payment methods you can access online in 2020.

Via debit and credit cards

This method is the most basic way you can accept payments through the internet. You should choose between enabling a dedicated merchant account or using an intermediary holding account, and these have different business processes and funding times. 

A dedicated merchant account is like an internet-based account expressly for receiving payments for your online offerings. Meanwhile, an intermediary account acts as a clearinghouse for cash, mainly from transactions involving foreign currency.

Electronic checks through ACH Processing

You could also include payments through electronic checks, which are direct debits of bank accounts. With ACH or automated clearing house processing, the customer inputs their information on an online check interface. After this, the software processes the payment and sends it through the ACH network for clearing.

Payments through mobile apps

If you have a combination of physical and online stores, you can set up a mobile app system that allows you to receive payments by dipping a chip card, swiping a credit card, or keying in a number. Paying through mobile apps is convenient for many people, since they do not need to bother with physical notes, coins, and sometimes even cards.

Through online payment gateways

If you have an e-commerce store, adding a hosted payment page allows customers to pay directly on your website. You can even have returning browsers create accounts. It lets them save their delivery and payment information and speed through billing and ordering.

With online payment forms, you can offer various methods like credit, debit, or e-check. This method also integrates well with your social media marketing strategy, since you can link your page through email newsletters or social posts.

Using click-to-pay invoicing and recurring billing

Email invoicing allows people to pay bills without leaving their inbox. Instead of asking them to open your app or visit your website, you can send the invoice to your customers through e-mail and give them a receipt right after completing the transaction.

You can pair this with recurring billing, a popular way for customers to settle monthly dues for subscriptions. This is convenient for both the customer and the vendor; they do not forget to pay their bill, and you get your payments on time.

Conclusion

More and more payment options for your business are coming out online. While you should offer more than one payment method, you should not provide all of the options discussed. Study your core audience and learn what they use in their everyday life. Responding with two or three tailored solutions is better than offering five ill-fitting ones.

With Payment Page, you can customize your payment solutions for your audience. Our WordPress plugin allows you to integrate a Stripe checkout or other payment gateways into your website. Join us today or contact us for more information!

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Stripe Tutorials

ACH Payments: How to Have This Payment Processing

Payment Online

If you’ve made an electronic payment through Venmo, PayPal, or directly through your bank account, you’ve likely participated in ACH payments as a consumer. However, not every eCommerce manager will have a strong grasp of its intricacies. If you’re thinking about accepting ACH deposits as a small business owner, understanding how it functions as an alternative to cash, credit cards, debit cards, and checks will determine whether or not you should stake your claim in this rising network. 

What is an ACH Payment?

An Automated Clearing House is a U.S. financial network that facilitates automatic transfers between banks. The network is regulated by the federal government and the National Automated Clearing House Association (NACHA). 

ACH payments function in the form of:

  • Individuals making electronic deposits to other individuals via online banking, Venmo, PayPal, or Zelle
  • Individuals paying service providers (cable, electric, gas, etc) online
  • Direct payroll deposits
  • Fund transfers between bank accounts
  • Direct tax refund deposits
  • Business transfer funds

The 2 Types of ACH Transactions

The two main types of ACH transactions differ based on the directionality of the processing. These encompass: 

  • Direct ACH deposits, in which deposit transactions made by consumers, businesses, or other entities are made directly to other bank accounts—whether their own or between individuals. 
  • Direct ACH payments, in which individuals, businesses, or other entities pull money from these accounts. This method is commonly used for recurring payments. 

How ACH Payments Work

Here is a step-by-step breakdown of how ACH payment processing occurs. 

  1. Originators, such as individuals, banks, or businesses, initiate an ACH transaction through a payment form that is differentiated as a direct payment or deposit. 
  2. The originating bank or payment processor, known as an Originating Depository Financial Institution (ODFI) submits the entry. 
  3. The ODFI sends entry batches to an ACH operator according to a predetermined schedule.
  4. The operator sorts through batches of entries to determine whether they are deposits or payments.
  5. The operator then transmits these entries to their respective Receiving Depository Financial Institutions (RDFI).
  6. If the transaction involves pulling funds, the receiving bank ensures that there is a sufficient amount of funds in the ODFI. 
  7. The RDFI will then debit or credit the receiver’s account depending on whether the transaction is a deposit or payment. 

How Safe are ACH Transactions?

For an ACH payment to be transmitted, it will require the exchange of sensitive bank information such as routing numbers, bank account numbers, and the type of account involved. Recurring payments will require the exchange of business bank account details as well. 

However, as previously stated, this information is regulated and protected by the federal government and NACHA, under which financial institutions, businesses, credit unions, industry providers, and government agencies must abide by strict guidelines. Hence, the safest payment processors are those that comply with NACHA regulations. 

ACH Payment Processing Times

ACH transactions are usually processed in batches three times a day during business hours. If your business accepts these types of payments, it may take a few days for the funds to be delivered to your business bank account. To be eligible for same-day payment processing, you may need to fund an expedited service. 

The Pros and Cons of ACH Payments

If you’re considering an ACH payment processor for your small business, consider the following advantages and drawbacks. 

Pros

  • Lower processing fees determined as a flat rate or percentage of the transaction
  • Easy to accept from paying customers across the country
  • Transactions are automatically recorded and can be easily accessed through an online portal

Cons

  • Accepts only domestic transactions
  • Not every provider offers same-day fund processing

Conclusion

On the whole, integrating an ACH payment processor into your transaction scheme is a simple process. However, it’s important to consider whether the costs of this transaction method outweigh the benefits it guarantees to  your business . Note whether your customers are willing to provide their bank information and if  payments for your products and services are easier facilitated using cash or credit. 

If you’re accepting online payments, Payment Page caters to clients from all around the world. Create a more seamless payment process for easier purchases with a hosted payment page that is as stunning as it is functional.

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WordPress

What You Must Know About WordPress Payments

WordPress Site on a Laptop on a Table

Bringing money into your eCommerce business is one thing—knowing how to do so involves selecting a payment gateway that best suits your customers’ needs. To achieve a completed checkout, you want to create a hosted payment page that effectively streamlines the process. If you’re hosting your eCommerce shop on WordPress, familiarize yourself with the process of accepting payments on this popular network.

Who is Involved in Processing Online Payments?

When processing online payments, the three parties involved are: 

  1. The merchant, who accepts credit card payments through an acquirer, who deposits them into a payment processor. 
  2. The customer, who initiates the payment using a credit or debit card. 
  3. The technology, which includes a payment processor and gateway.

WordPress Payment Processors Vs. WordPress Payment Gateways

Though seemingly identical, payment processors and gateways are different in that: 

  • Processors are intermediaries who handle transactions in bulk, managing risks between credit card companies and your business, collecting financial data, and transferring funds. 
  • Gateways are third-party tools that evaluate and process customer payments. They must be Payment Card Industry Data Security Standard compliant and can shoulder direct or indirect payments. 

Some all-in-one providers will offer both processing and gateway services, which may occasionally eliminate the need for a merchant account. 

Choosing the Appropriate Processing Solution

Selecting a gateway isn’t as simple as looking at a comparison table. How you accept payments will depend on what you sell and who you sell to. Before selecting a payment gateway, consider the following. 

1. What Payment Options Do You Accept?

Most online businesses will accept debit and credit card payments, of which debit transactions adhere to smaller fees. To process credit card purchases, some retailers may require at least a $10 buy to shoulder higher fees. However, some consumers prefer to use Apple, Android Pay, and Venmo to shop online, which is something for your business to consider. If you offer subscriptions, ensure that your processor can support this need. 

2. Who Do You Sell To?

If you sell your products internationally, you’ll have to work with a processor that can support various currencies and languages. However, not all processors will be compatible with your specific bank.

3. What Fees Can You Shoulder?

Parties that handle transactions will likely receive a cut of the total amount processed. Credit and debit cards will usually incur an interchange fee, assessment fee, and merchant fee that will depend on your merchant bank or credit card association. If customers file disputes, you’ll also need to pay for a chargeback, which can vary according to your processor. 

4. Other Considerations

When dealing with sensitive information, you’ll want to ensure customers that they can consult with 24/7 support regarding their purchase. To cater to even more potential customers, use a mobile-compatible platform. On your end of the spectrum, consider the fees you can comfortably afford and whether they offer the necessary features that can deliver your payments on time.  

Stripe as a Payment Processor

Of the WordPress payment processors that fit the bill, Stripe is quickly rising to in-demand status. With Stripe checkout, you can zero in on security and anti-fraud measures. Because transactions are handled on-site, you gain more control over the checkout process. 

As compared to PayPal, Stripe boasts lower transaction fees and transfers the money to your bank in just 2 days. With it, you can also personalize your checkout page and support mobile and desktop transactions that accommodate Apple Pay, Amazon Pay, and Venmo. 

Conclusion

One of the most overlooked aspects of setting up your eCommerce website, payment processing can ultimately affect your bottom line. When selecting a provider, consider a system that is seamless, inclusive, and secure. 

To receive your payment in minutes, sign up for our up-and-coming payment page builder. At Payment Page, you can expect beautifully designed layouts that are intuitive and clearly display your business information. 

Categories
Marketing

How to Increase Conversions On Your Donation Page

Donate Prompt

A common mistake that newbies often make when it comes to online fundraising is assuming that they need just one donation page. The truth is, donors have varied motivations, and what nudges one person to action might not work for another.

Sending your traffic to a single payment form will not generate good returns. If you use different types of pages, like general, campaign, and instant donation pages, you will see better results. 

Here is a closer look at each type of donation page, and how you can use each one:

General donation page

All organizations have a general donation page, but not all present information in a compelling way. To build this page successfully, you must appeal to various reasons people have for giving to charitable causes.

According to a 2018 benchmark report of fundraising campaigns, 83 percent of page visitors leave without donating. To remedy this, you could include a call-to-action headline with a specific ask on your main page.

You can also use bold text and headers for their most compelling points, and show broad reasons for your fundraising. However, keep your message clear and make your points short enough for bullet-point lists. Another option is to offer gifts for certain giving levels to promote engagement.

Campaign donation page

If you just focus on the general reasons people should support your organization, some donors won’t be satisfied. They want to know where their money will go and understand the impact of their donation.

Instead of a general donation page, you can create a campaign donation page. This will provide copy specific to the cause you are raising funds for, merely touching on your organization’s broad goals.

Use a payment page builder to include a progress bar on your form. It will indicate how close you are to the target amount, and a countdown clock to show how urgent it is that people donate. Furthermore, note that videos might not be as useful for pages like these.

Instant donation page

Take a different route to fundraising by using an instant donation page. Instead of acquiring a subscriber and cultivating him for months, an instant page converts subscribers into donors right away. 

They do this by offering a free book, course, or petition to acquire an email address, and putting the donation ask in the context of the freebie. You might see low conversion rates, but that shouldn’t be a problem. Instant pages are more for recouping the costs of your advertising.

Eliminating friction from a donation page

People get discouraged or encounter friction when donating to a cause when there are significant barriers to sending fundings. Things that cause friction include the number of fields a person must fill out, needing to make too many decisions, or having to register for an account to donate.

Remove these barriers by simplifying your donating process. Keep forms short and try not to ask donors how they want their gift designated. Most people are not informed enough to answer this. Keep in mind that removing friction does not immediately translate to more funds raised.

The length of your copy also does not matter as much as how it is written. A short paragraph that conveys your value proposition will work much better than a feature article-length discussion of your organization and its current initiative.

Finally, there are debates about the functionality of the donation shortcut button. When a visitor clicks this, it jumps him past the copy and right to the donation form. Though the shortcut makes it easier to donate, it does not allow the donors to understand the impact of their actions. This can lead to fewer conversions in the long run.

Conclusion

Put yourself in the shoes of potential donors so you can better convince them to participate. Empathy, when coupled with testing and experimentation, allows you to inspire generosity and see significant returns for your efforts.

Get more conversions by having a hosted payment page that integrates various payment methods. Payment Page integrates with Stripe and has a WordPress plugin that allows fundraisers to accept donations easily. Join us today or get in touch for more information!

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Marketing

How Optimizing Your Checkout Process Can Boost Your Sales

Shopping on an Ecommerce Site

One of the most important aspects of online retail is the user experience. Your website must be designed in such a way that its users are naturally drawn to your offerings. Besides high-quality design and helpful information, it must also offer convenience to effectively make sales.

To illustrate this point, even a delay of one second in your website’s loading time can cause a drop in conversions of up to 7 percent. This is particularly problematic when you consider that 70 percent of website visitors will abandon their shopping cart before making a purchase.

As such, it is important to optimize your checkout process. There must be as few clicks as possible between your landing page and the payment page. Even then, your page must be perfectly designed to make that purchase all the easier. In this article, we will show you how to make that possible by going over a few important facts.

The underlying causes

Through a series of surveys and data gathering, most of the underlying causes of failed conversions have been determined. Marketers, designers, and business owners use this information to better understand customer behavior. Once that is understood, intelligent strategies could be employed to increase sales.

Here are some of the data points of interest:

  • 61% of customers were deterred by additional shipping and tax costs
  • 35% of customers did not want to make a customer account
  • 27% say that the checkout process was too long and complicated
  • 24% were put off by the fact that they didn’t know what the total cost was
  • 22% said that errors occurred on the e-commerce website
  • 18% were hesitant to put their bank account information on the website.

As you can see, the most important concerns apparent are related to transparency, security, and convenience. These are the things that must be addressed when thinking about optimizing your checkout process.

Pitfalls to avoid, and strategies to employ

Based on various studies, surveys, and statistics, different strategies can now increase the likelihood of turning a site visitor into a customer. Here are some of the tried-and-tested tactics you could employ for your online shop:

1. Don’t surprise customers with additional costs

The most annoying thing for nearly any buyer is finding that the price you intended to pay was less than the actual cost. While shipping is already a common thing people prepare for, other fees like taxes can turn off a customer from making a purchase. This is the most important thing to address, as it can account for up to 61 percent of people leaving before they buy.

If free shipping is not possible, make sure your customer is informed about the price even before they hit the checkout page. This way, they are more likely to make an informed decision. 

2. Allow different options

The most common payment methods are the following: PayPal, Stripe checkout, credit cards, debit cards, and cash. Online payment has become such a commonplace practice that having a robust set of options can raise your conversions by up to 200 percent. 

3. Allow guest checkouts

Many people are reluctant to provide their email addresses to other websites, especially with all the fears surrounding data privacy and security. As such, it is important to give them an option for guest checkouts. This can allow them to safely make a purchase and can push them to make more down the line as you prove to be a trustworthy website.

4. Reduce the number of clicks

There is a reason why many online shops have a “Buy now!” button right next to their “Add to cart!” It reduces the number of clicks towards a purchase. It allows the customer to buy a product before their hesitation sets in. Additionally, a website should be easy to navigate and understand, and that often entails reducing the number of clicks and designing intuitive payment buttons.

In conclusion

As we’ve mentioned before, convenience is the key to customer satisfaction. And by convenience, we mean that the customer has less to worry about—security, ease of access, and so on. Whatever product you might sell or service you might offer, keep in mind the user experience, and you can quite easily boost your sales.

If you are looking to optimize your payment page, send us at Payment Page a message. We can make the purchase process a smoother experience for both you and your customers. 

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Stripe Tutorials

How to Accept EPS Payments through Stripe: A Guide

Online Payment Gateway

Countries operate in preferences, and the very same applies to payment methods. In the charming country of Austria, customers expect to pay through the EPS, which is a local online transfer payment method. Developed by Austrian banks and the government, EPS is an authenticated bank debit that allows immediate and secure payments. With over 2.5 million Austrian bank account holders, turning EPS down as a payment method can be detrimental to your business venture. 

Customers are able to choose EPS as their preferred method of payment during checkout, then selecting their bank. They will then be asked to login their details, promoting them to authorize the payment before crediting to your business account. 

If you wish to enter the Austrian business landscape, adopting the EPS payment method is a must. Dominating a market share of a whopping 18%, 80% of online businesses in Austria make sure that they offer the payment method—without it, your customers will be unlikely to trust your brand. 

If you wish to learn how to win over Austrian trust and engagement, here’s a quick guide for you:

How will it work for my business and future Austrian customers?

Step 1: Once your customers are satisfied with the items in their cart, they will checkout on the website. Stripe will then allow them to choose EPS as their preferred method of payment, compelling them to continue the transaction.

Step 2: As they get redirected to the EPS page, they will be asked to choose their bank on a highly secured page. Account credentials will then be inputted into the interface, to be then authorized using a scanner or SMS. 

Step 3: Once the account details have been verified, the customer will receive a message informing them that the payment has been completed. Funds will be transferred to your business account, and your move to ship out the item will be the next step.

How are disputed payments and refunds resolved? 

Given the nature of EPS, the risk of unrecognized payments or fraud is low. Customers are asked to authenticate the payment with their respective brands, meaning that you will not have to deal with disputes turning into chargebacks—your Stripe account will remain untouched. For refunds, on the other hand, EPS allows customers up to 180 days after the payment date. 

What advantages will I be able to enjoy?

The advantages of the EPS payment method for the customers are undeniable, but what kind of privileges will you enjoy as a business? 

For one, you’ll be able to enjoy a real-time online payment method. This means that you’re offering unparalleled convenience to customers, all without the risk of returns and disputes. You’ll also be able to enjoy the advantages of offering a trust local payment solution, which is exactly the prompt you need to increase sales. 

Payments initiated cannot be reversed by the bank, and your Stripe business account will remain intact. Customers are also automatically enrolled, saving you the trouble of conducting registrations.  

Need the Help of A Hosted Payment Page?

The modern marketplace is highly competitive. With so many merchants and entrepreneurs in the space, it can be difficult to win over new customers, especially in a new target audience. It’s therefore vitally important that you know exactly what compels prospective customers to trust your brand. In more ways than one, simply offering their most preferred payment method can do wonders for your business venture. 

To discover payment methods to try, Payment Page is ready to help! Offering a payment page builder integrated with Stripe, we’ll help your business soar into new heights. Dedicated to helping entrepreneurs diversify their business operations, we’re exactly what you need for continuous growth, security, and reliability. To learn more, reach out to us today! 

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Business

Contactless Payments: How Exactly Do They Work?

Person Paying Using Mobile phone

While contactless payments have been around since as early as 2007, their ease of use and tap-feature is more important today than ever before. It first started with credit cards having a chip that works by transferring data to a terminal that has a proper reader, removing the need for a swipe or a pin-input. Nowadays, technology has evolved significantly that even digital wallets and payment systems like Apple Pay and Google Pay require nothing more than your phone for transactions. 

Not only is this convenient, but 2020 has found this feature especially useful to avoid unnecessary contact with items that can transmit the COVID-19 virus. Thanks to the radio frequency identification technology, or also known as RFID, these signals can be picked up from a set range for ease of use. 

Contactless Payments

As mentioned above, contactless payments work through chips that have RFID technology to transmit radio waves to a reader. If you are using a credit card, make sure it has the chip for contactless transactions, such as Visa’s payWave and other similar markings on a credit card. When utilizing mobile device-specific payment apps like Apple Pay and Google Pay, your phone must have what is called near-field communication (NFC) to transmit data. 

When paying for items, the POS system will usually display an option to tap your card or phone, which should be just as easy as holding it nearby the screen of the terminal. This technology is often not perfect either, meaning it can fail and require you to input your pin instead. 

How This RFID Technology Is Used

Contactless payments are usable with many devices, as it is slowly becoming a standard for all technologies. While the most common are credit cards and mobile devices; fitness trackers, watches, key fobs, and stickers are also now utilizing RFID technology. These cards are also often used to open doors and gates, as security passes, and other kinds of payment areas. 

Where Can This Be Used?

This technology is great because it is now being recognized by places all around the world. Contactless payment can be used at retail stores, restaurants, bars, cafes, and other automated services for ease of transaction. In some countries, these have even been integrated with public transportation to expedite the riding process. 

What Are The Advantages Of Using Contactless Payment Systems?

Using this system saves a significant amount of time and effort you would normally be using to punch in your pin number. Having your phone set up to be your wallet means carrying less cash and cards all the time while also saving you the trouble of fishing around your bag. 

Nowadays, COVID-19 is serious, and the fact that you can pay with your credit card or even Apple Pay and avoid touching money makes going out much safer. It is known that the virus can be spread through money due to its fabric material, so going down the route of cashless transactions using contactless payment will expedite everything. 

What Are The Risks Of Using Contactless Payment Systems?

The issue with contactless payments is that if someone else gets a hold of your card, or your wallet or phone is stolen, they can use it to make purchases without any need for a pin input. The fraud activity due to RFID technology is high, so be sure to report any missing cards as soon as possible and check your credit card statements on a regular basis. Report any suspicious and unrecognizable transactions to your bank whenever you see them. 

Conclusion

This technology has proven to be extremely effective and efficient not only for payments and transactions, but also for other aspects of business such as security and identification. Thanks to RFID technology, there have been many advancements towards the ease of business, but has also come with risks due to fraud and safety concerns. 

Creating an easier way for your business to accept payments has never been easier with Payment Page, wherein our WordPress plugin can create a hosted payment page with ease. Sign up for our services on our website to be at the forefront when we launch our products. 

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Stripe Tutorials

How to Accept Apple Pay Payments through Stripe: A Guide

Apple Pay App

Apple Pay is among today’s leading digital wallets for iPhone, iPad, and Apple Watch users. To make online payments, users verify their transactions with Face or Touch ID, or simply input their Apple passcode. Apple’s pioneering two-factor authentication is what makes it a go-to payment method for users seeking security and avoiding the risk of disputes. If you’re in the process of introducing Apple Pay to your hosted payment page, here’s what you need to know. 

What Does Apple Pay Entail?

Apple Pay is applicable to use wherever it’s supported as a contactless method and present mostly in eCommerce marketplaces and on-demand services. It can support recurring payments, such as those on a subscription, and can provide refunds to unsatisfied customers. 

Apple Pay is a popular gateway across the U.S., supporting major banks and credit unions such as American Express, Visa, and MasterCard. Its system is also applicable to holders of federal-payment cards such as the Direct Express Network and GSA SmartPay. 

Apple Pay doesn’t save transaction information or credit card details onto its server, making it a secure method of payment. Instead, it replaces your details with a number or token and creates a Device Account Number for each card. These tokens are encrypted, and merchants have no direct access to your card. 

Apple Pay – Website Applications

To best support Apple Pay as a collection option, consider incorporating a Stripe system into your payment gateway. With Stripe, your storefront enables frictionless payments and eliminates the need to input payment and shipment details manually. 

To integrate a seamless Apple Pay experience into your desktop website, allowing shoppers to check out with a fingerprint is the first step. In a single touch, you can receive payments, streamlining shipping methods, and gather contact information to exchange physical goods and subscriptions. 

In 2019 alone, Apple Pay conducted roughly 10 billion transactions. Now available on various markets, your desktop shop can accommodate international customers, who make up 85% of Apple Pay users outside of the U.S.

Apple Pay – iOS Applications

With iOS SDK, eCommerce sellers can accept Apple Pay transactions through a unified source. Customers can quickly settle physical goods—such as clothing, groceries, electronics, or appliances—and services—such as club or gym memberships, hotel reservations, and event tickets—in a single touch. 

Customers using their mobile devices to shop online need only to set up their Apple Wallet and connect their credit, debit, or store cards to start shopping. In some cases, user banks may request additional verification—but the process is relatively quick. 

Conclusion

Increasing eCommerce sales has just as much to do with the payment options you make available as to how beneficial your products and services are. By introducing new payment gateways and incorporating various “trust” factors into your payment page, you can encourage more sales on your website. 

To achieve a beautifully designed checkout page, join us at Payment Page and get up to a 30% discount upon the first launch. With our intuitive payment page builder, you can facilitate a payment process even without a unique website.

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Stripe Tutorials

How to Accept Alipay Payments through Stripe – A Guide

Alipay on Smartphone

Operated by the Ant Financial Services Group, Alipay is China’s most preferred payment method. Functioning as a digital wallet, it has become a popular platform, earning over one billion active users worldwide since its inception. Its growth isn’t stopping anytime soon, especially since various corners of the world house Chinese immigrants, all of which continue to use Alipay as their main mode of digital transactions. 

Seeing as it has reached global success, Alipay also is also used by eCommerce merchants and other marketplaces, along with on-demand services. It accepts a wide variety of currencies, including USD, EUR, CAD, and AUD, among others. 

Alipay users are allowed to pay via their mobile phones or on the web, via a secure method that requires their login credentials. Funds used to pay for goods and services are withdrawn from their bank accounts or Alipay accounts, ensuring hassle-free and secure payments. 

If you plan to target Chinese consumers, hosting Alipay is the best route to go. Supported through Stripe, you’ll be able to gain the trust of Chinese customers from all over the world. Seeing as these prospects are lovers of online shopping, your business venture should be enjoying growth and prosperity. To successfully offer Alipay for your future Chinese customers, here’s a quick guide for you.

How Alipay Works 

For on-demand service and mobile payments: 

Step 1: Once your customer is ready to pay for the items on their cart, they will be redirected to the payment gateway where they will be free to choose Alipay as their payment method.

Step 2: They will be then redirected to Alipay’s secure platform, where a QR code will need to be scanned. This will then enter the code from the mobile phone, prompting it to redirect onto another secure page.

Step 3: The customer will receive a message notifying them that the payment has been successful. Depending on your website’s mechanism, the customer will be directed back to your site for further browsing.

For web page payment: 

Step 1: Upon checkout, customers will be allowed to choose Alipay as their preferred method of payment.

Step 2: They will be redirected onto a secure page, where they will be required to input credentials for verification. 

Step 3: Once credentials are successfully inputted, the customer will be notified that their payment has been successful. 

How do I deal with disputed payments and refunds?

Given Alipay’s secure nature and authentication methods, there is little to no risk of fraud or unrecognized payments. Your Stripe account will remain untouched, especially since chargebacks cannot happen. However, Alipay users will be promoted by Alipay to directly contact you—should any issues arise, you will be given the option to contact your customers directly. 

Refunds, on the other hand, are allowed up to 90 days after the payment. Refunds only take 5 minutes to complete, and Stripe keeps you posted about the refund status. Should the refund process pay, however, you will be compelled to look for alternative options to transact with your customer. 

The Magic of A Payment Page Builder 

As the world progresses further into the digital age, customers continuously look for ways to make their lives easier and more convenient. As such, it’s only logical that they choose merchants that offer them the very same notion. In an increasingly competitive marketplace, your competitive advantage will come from your customers. You need to make them choose you, and one of the best ways to do that is by offering them the best payment methods possible.

For a hosted payment page you can trust, Payment Page is the place to go. We offer you payment options that help diversify your business, ensuring that you remain competitive and growing even in a tough market. Through our specially designed WordPress plug-in, you can now offer credible and secure options for every customer you wish to pursue. Reach out to us now for more information!

Categories
eCommerce

How Does Multi-Currency Payment Processing Work?

Currencies Under a Key

Selling your products or services outside your own country helps create more opportunities for your business. However, global expansion means accounting for multiple currencies and securing payment processing solutions that accommodate these.

Find the best payment processing company

The first thing you need to open yourself to the international market is a multi-currency payment processor. This type of provider allows you to accept payments from other countries made through credit cards. This type of processor will display prices in the customer’s local currency, but their payouts will be in your own currency.

Payment processors have a list of currencies they support, as well as business models for which they can process payments. Check your provider’s website for this information and make sure you are compliant before you start the application process.

Check if they support the right currencies

Before you sign a contract with a processor, check if the contract stipulates all the currencies in which you plan to transact. You can also clarify what your payment processor uses as settlement currencies. This is to ensure that the funds that will register in your business’ bank account are the ones that reflect your desired currency.

Furthermore, clarify if there are administrative or transfer fees that you should pay for each transaction. If you enlist the services of a multi-currency provider, you will likely incur these additional fees. When a merchant accepts payments in a local currency, there is usually no extra charge. However, if it is in a foreign currency, there is usually a one percent fee for transferring. 

Ensure support for multiple languages

The checkout is arguably the most important page of the conversion process. The way your page is designed determines how likely people would be to follow through with a purchase. A checkout page should be free from friction—one way to ensure that is by translating it into various languages. 

Make sure that your hosted payment page offers translations for the commands and functions. Find a provider that automatically does this based on the location of the customer; this will ensure that you keep frustrations to a minimum.

Use local currencies for prices

Another way you can minimize friction is by accepting payments and displaying prices in local currency. This is convenient for your customers and minimizes chargebacks. When you list items, you should allow your customers to pay in the local currency. This means pounds for UK-based customers, dollars for American ones, and so on.

People always check the amount on the price tag, but they do not always look at the currency. As a result, they might fix a price in their head while they are paying for the item, and may get surprised when their bank statements do not reflect this, which might result in a chargeback. Assume that people do not convert when looking up your products and do this for them.

Conclusion

Offering various payment options can help you improve your conversion rate and boost your sales. However, selling in foreign markets means adapting to the payment methods that locals use. Here are the first things to remember when setting up multi-currency systems.

Set up a frictionless payment system with Payment Page. We help small and medium business owners create a hosted payment page for their online business, and start accepting online payments easily. Get in touch with us today for more information!

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

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