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Categories
WordPress

What You Must Know About WordPress Payments

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

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!

Categories
eCommerce

Hosted Payment Pages: An Entrepreneur’s Basic Guide

Thanks to the advent of modern technology, the rise of eCommerce, and continuous development of online payment platforms, making a payment has never been so convenient.

No longer strictly limited to cash, today’s consumers can use a wide range of different methods to make a payment for almost anything and everything they need to get their hands on. Given the fact that the eCommerce market grows with every passing year and online shopping is bigger than ever, businesses are now urged to improve their payment experiences—and that means investing in hosted payment pages.

What are they?

Hosted payment pages are a type of feature that is integrated with payment gateways like Stripe in order to help a consumer make their purchase in a secure payment environment upon checkout. By taking the time to implement this feature, you’ll be able to provide your customers with an easy way to pay — all while making sure that they can pay with security in mind.

How does it work?

Hosted payment pages are website pages that are hosted online and allow consumers to make easy payments in the global or local payment method of their choice. As a business owner, you can sell anything ranging from services, products, or receive donations because payment pages work in a variety of situations.

Hosted payment pages are often linked to the main website platform of a business or marketing campaigns for different purposes. They’re strategically placed in order to quickly and securely finalize a transaction that any customer makes.

Payment pages can be built on your website (this is possible using our Payment Page WordPress plugin) and can also be provided in the form of a hosted service (like our Payment Page platform). They don’t have to be linked to any existing website or they can be the basis of an entirely new project since payment pages are totally customizable in any way of your choice.

Despite the underlying complexities that come with credit card processing and other global or local payment methods, hosted payment pages ease the process by having service providers called payment gateways take on the duties of compliance and PCI certification. Instead of having to risk running into problems by handling customer cards yourself or managing payments via alternative methods, you can let a payment processing partner handle your transactions on the hosted payment page. Payment pages are generally NOT payment gateways, so you can use your own payment gateway, like Stripe, to connect your payment page and accept payments in a beautiful payment page, with a simple payment form, customizable product or service layout and much more.

Why you should consider investing in a hosted payment page

If you’ve been doubling-down on your efforts to take your business’s online operations to the next level, here are multiple reasons you should invest in a hosted payment page for your site:

A greater level of trust

In any kind of transaction—regardless of whether it’s for a product or service—it goes without saying that trust can go a long way in securing a deal. This is exactly what makes hosted payment pages so effective. As a slight nudge in the right direction, the page itself essentially acts as a form of reassurance that your customers can bank on and use as a final justification for their purchase. When customized properly with the right reassurances – secure payment badge, logo, business info, and product/service details – you will have all the trust you need to close the transaction.

A wider range of payment methods

Thanks to the universality of a standard hosted payment page, it’s safe to say that it can help your business broaden its service capabilities by allowing your website to take on more payment methods. By integrating more diverse payment methods, you’ll be able to open up your website to more sales opportunities while improving the overall customer experience.

Ease of checkout

As a business selling goods or services, it’s important to make the checkout process feel effortless. When a customer is trying to purchase a product or service, the last thing they want to deal with is jumping through hoops trying to give you their money. The beauty of hosted payment systems is that it truly does make the transaction from customer to provider smoother than ever before.

Customizable payment options

Whether you’re selling a product, service, or receiving a donation of any kind, you can set up your payment page to receive one-time payments or recurring subscription payments on a daily, weekly, or monthly, bi-annual, or annual basis. Having a payment page gives you full flexibility. You just need to set up the payment page to collect the right information from the customer.

Conclusion

With the help of a hosted payment page, you’ll be able to maximize your website’s ability to provide a safe, trustworthy environment for your customers when they make their purchases—all while maximizing the power of Stripe and other payment gateways.

Payment Page is a payment page builder integrated with Stripe and other gateways that can help any business accept payments from all over the world. Get in touch with us today to see how we can help your business get started!