fbpx
Categories
eCommerce

Why your eCommerce needs a Multi-Currency Payment Processing

Most entrepreneurs have started e-commerce to sell to the global market. If you are one of them, you have a chance to make a lot of money. However, selling to customers across the globe gives you the challenge of processing different currencies.

A multi-currency payment processing WordPress plugin could be the solution for your e-commerce. With many decisions to make for your business, you may be unsure whether a payment page is okay for you. Read on to understand the value of a multi-currency payment processor in your eCommerce.

1. Save Money

Your primary goal is to save as much money as possible while maintaining high profits. A multi-currency payment page allows customers to pay in their local currency. However, the money reflects in your account in your preferred currency. You do not have to lose money because of price fluctuations in the currency market.

2. Ensure Security for Your Cash

After working hard to make money, you want your finances to remain safe. A WordPress payment page has sturdy security features to prevent hackers from accessing your money. For instance, the payment processor will need passwords or other security features to access it. Anyone without the necessary safety features cannot access your money from the payment page.

3. Enhance Customer Experience

In a competitive business world, your eCommerce must enhance user experience to stay on top of the game. A multi-currency payment processing page converts commodity prices into local currency for clients.

People never struggle to convert their local currency to pay for goods. For example, a customer in Japan can pay for your goods using yens without converting them to dollars. Thus, it is easier for clients to purchase commodities from eCommerce with an excellent payment page.

4. Translate Information to Multiple Languages

Not everyone understands English or your local language. If you are selling globally, some customers may buy your goods if the eCommerce page is written in their language. A good multi-currency payment page allows you to translate the information on your site into different languages. The platform translates languages based on the consumer’s location automatically. Thus, more people can buy from your eCommerce using a multi-currency payment plugin.

A multi-currency payment processing plugin is an essential tool for your eCommerce business. It will allow you to accept payments globally with an enhanced user experience. Your eCommerce business will generate more sales, meaning higher profits. Thus, it could be time to think about investing in a payment page for your eCommerce.

Payment Page is a fantastic way to start accepting payments on your WordPress site. Check out our pricing for details or download the free version.
Categories
WordPress Accepting Online Payments

Find out if your payment page is user friendly

User-friendly means a payment page is designed to be fast, easy, and accessible to your clients and have the necessary information to complete their transactions. It is also essential that you provide compensation options that are flexible enough to suit your customers’ needs.

How to Find out if your payment page is user friendly

Ask your customers what they think

You can ask them their thoughts by asking them to fill out a short survey. The survey will ask about their experience with the site and if they found it easy to use.

You don’t have to wait for someone to complain about your payment system—there are plenty of places online where people can leave feedback on websites. This can help you make improvements that will improve the user experience of your site and its functionality.

Compare your payment page to other similar payment pages

When compared against similar payment pages, you can see whether or not your page is accessible for customers to complete. This means the customer will have an easier time paying out of their account and getting the product they need. On the other hand, if your customer has difficulty using your payment page, it could be cause for concern. So check out these similar payment pages and see how yours stacks up.

Provide a transparent header for your payment form

To make sure your payment form is user-friendly, you need to provide a transparent header for your form. Here’s how:

  1. Add a clear title to the top of your page. This will tell people what they agree to when they click on the link to pay for goods or services.
  2. Include a visible button that says “Pay Now,” “Continue Shopping,” or something similar in large, bold letters so that people can pay more easily without having to scroll down the page first.
  3. If possible, use color contrast to highlight essential elements of the form (like buttons) so that they stand out among other elements on the page—this will make it easier for users to find what they’re looking for and click on it quickly.

Provide a transparent header for your payment form

The best way to ensure that your payment page is easy to find is by adding a search bar at the top of your e-commerce page. This will allow users to quickly find the payment form and make it easier to complete their purchases.
If you can eliminate most of the common mistakes, you’ll be well on your way to a user-friendly payment page. To do so, follow these simple suggestions and ensure you simulate customer experience.
Payment Page is a fantastic way to start accepting payments on your WordPress site. Check out our pricing for details or download the free version.
Categories
WordPress

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.

Categories
Featured

How Can My Business Benefit from Having A Hosted Payment Page

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

3 Payment Systems for Companies Tapping the Chinese Market

Ever since China opened its doors to global trade and embraced the open market economy, a lot of countries have taken notice. Doing business with one of the world’s biggest sources of manpower, raw materials, and industrial goods is an advantage that businesses of all kinds cannot ignore.

For people who want to tap into the Chinese market, it can be challenging to set up a system for receiving payments from Chinese customers. If your company does not want to spend resources building a brick-and-mortar store and handling expansion into the Chinese market in the traditional manner, e-commerce is the way to go.

Why you should expand into Chinese e-Commerce

E-commerce revenues in China are expected to grow to $1.3 billion by 2024, driven by a wide range of industries but most notably in fashion, electronics, and hobbies or DIY. Presently, the average revenue per person in this 893.8 million-strong user base is $1,121.04, which can be expected to reasonably increase in the coming years.

This resilience of the Chinese market combined with the convenience of online shopping makes e-commerce ventures in the country an attractive prospect for many business owners. For companies to succeed, though, they must adapt to local preferences and habits. This includes delivering services through channels familiar to the Chinese market.

Online Payments in China

PayPal and other payment methods are not as widely-used in China. Local consumers prefer Chinese payment systems, as these accept transactions offline or through QR codes. Successfully running a business in China is often tied with providing an option for payment through one of the three biggest providers in the country; Alipay, WeChat Pay, and China UnionPay (CUP, or just UnionPay).

Ideally, integrating with all three systems is the best route for a business. This way you can have access to nearly 100 percent of the shoppers in the country.

WeChat Pay

In 2019, since introducing services in 49 countries and support for 16 currencies, the number of cross-border payments using WeChat Pay has increased significantly in China. WeChat Pay has solidified itself as a popular Chinese payment platform. This is true even though it is the youngest of the top mobile payment options, demand is only increasing.

WeChat Pay’s dominance is due to the fact that almost everyone in the country has a WeChat account, which serves as a multipurpose online network for Chinese people. Through WeChat, users can send messages privately, connect with friends, play games, pay bills, get delivery, buy transportation tickets of all kinds, and much more. Needless to say, if you live in China, WeChat is a big part of people’s everyday lives.

Businesses that want to enter the Chinese market integrate with WeChat Pay because of its wide reach. Accounts on WeChat come automatically integrated with the payment platform, which only needs to be connected to a local Chinese bank account to enable financial transactions. This platform is also supported by all devices that work with the WeChat Pay app.

Setting up WeChat Pay directly on your website is not easy, which is why Stripe has created a partnership for most global businesses to be able to accept WeChat Pay on their websites. Using your Stripe account and the Payment Page plugin, you’ll be able to get started with WeChat Pay accounts without needing an actual account or relationship with WeChat directly, making it much easier.

If you have a WeChat Official Account, which is only available if you’ve registered your business in China, you can accept payments on your website directly through their API integration, bypassing Stripe. But this type of integration is difficult to achieve because many businesses find the regulations of creating a business entity in China too burdensome. Now, eCommerce sites don’t have to have the direct relationship with WeChat and go through all the requirements of creating a business in China.

Alipay

Though WeChat has a large consumer base and many applications in day to day life, Alipay rivals its capacity to deliver payments. This is because, as the pioneer, Alipay remains the ubiquitous name in electronic payments in China after gaining popularity as a payment solution for the eCommerce platform Alibaba.

Alipay now provides support for online and offline payment, as well as the option to settle bills and utilities. They are similar to WeChat in that they only charge fees to customers for withdrawals, and they charge similar merchant fees.

Alipay is similar to WeChat in that to accept it on your website, you’ll need a direct relationship with Alipay and a Chinese business license (unless you have a Stripe account or another gateway that has a direct relationship with Alipay).

Integrating with Stripe for both Alipay and WeChat Pay lets businesses target a large portion of the Chinese market at once because both payment systems combined dominate almost the entire market.

China UnionPay

The distinction of UnionPay is that it was established as a credit and debit card provider. This system is new to the online payment industry, but its pool of long-time clients include more than 160 banks, which issue more than five billion cards in China every year. Any person with an active bank account in the country can be considered a UnionPay customer.

What’s more, UnionPay supports a wider range of currencies and can operate in more countries. This is something its competitors are still working towards. UnionPay, because it fits the unique requirements of Chinese regulation, can offer these services easily compared to the other two platforms. This makes it a good choice for businesses that want to target countries other than China in their expansion, however, Stripe does not yet integrate with UnionPay, so you’ll need to work directly with them for a payment integration

Conclusion

Businesses that want to establish themselves in the Chinese online market should integrate with two of these three payment platforms at a minimum for eCommerce sales. Conducting research into how your products and services would best reach your target market is also necessary for this venture, like having translations and localizing your page.

Companies that want to enter the Chinese e-commerce market can partner with Payment Page to help handle their online sales in China. Our Stripe integration lets business owners place a payment form directly on their website or create a hosted payment page customized with their branding and product/service information, which serves as a channel for payments for WeChat Pay and Alipay. Get in touch to learn more.