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eCommerce

Tips for Protecting Your Business From Remote Payments Fraud

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!

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eCommerce

Recurring Revenue: What Is It and What Are Its Benefits

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.

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Stripe Tutorials

How to Accept Bancontact Payments through Stripe: A Guide

When running an eCommerce store, transaction options are one of the biggest factors determining whether or not a customer will go through with their purchase. While website design provides visitors the opportunity to experience your brand and the products they put out, a hosted payment page system will allow them to turn that into reality. 

Payment page builders are extremely important for a streamlined checkout process. However, their importance is not stressed nearly enough. Offering a variety of payment options on a clean and easy-to-use payment page ensures that customers aren’t given a reason to leave. In a world where hundreds of other options are available at their fingertips, you can’t afford to lose them.

Bancontact

Bancontact is Belgium’s leading online payment method, in which it is utilized in up to a third of their online transactions. Founded in 1979, they have since been able to expand their reach and create a network for payments that work for the Belgian people. It is estimated that only less than 20% of businesses in the country do not offer the hosted payment page technology and it is reported that 27 million payments were processed in 2015. 

Bancontact payment details are normally single use but can be programmed to allow businesses to retrieve the bank account details of customers for subsequent payments to be completed. This can be done with the appropriate mandate authorization and links to the SEPA Direct Debit system for easy access. 

Fast Facts About Bancontact

Bancontact is a Belgium-based company that accepts payments via an authenticated bank debit system. Thanks to its customer-authenticated system, this offers safety and security for transactions, providing users with peace of mind. Since it accepts Euro currency, this is best suited for European Union countries looking for a good way to integrate this program with a Stripe payment system. Additional features include an immediate payment confirmation, as well as the ability to handle both refunds and partial-refunds in case of any issues. 

One of our favorite Bancontact features is its ability to set up recurring payments through SEPA Direct Debit, making subscriptions incredibly easy!

How To Accept Bancontact Payments Through Stripe

If your e-commerce site has a hosted payment page, Bancontact can be chosen as an option for checkout. There are two potential next steps, the first being when the customer is redirected to Bancontact’s page for payment credentials to be entered, which will notify the customer once the payment process has been completed. After the completion of this process, the customer will be returned back to the business’ site for the order details and other information. 

The other potential next step occurs when someone already owns a Bancontact account. First, the option is selected at checkout, then is redirected to Bancontact’s site containing a QR code to be scanned. The user will then enter their pin code and will be given a notification that the payment has been completed and will redirect them back to the business’ website. 

These can be integrated into Stripe’s system through proper programming and customization. 

What About Disputed Payments?

Thanks to the requirement of bank authentication for payments, the risk of fraud, or other kinds of unrecognized payments is low. This means that there will be no disputes that turn into chargebacks with funds withdrawn from a hosted payment page system (e.g. Stripe).

How About Refunds?

Bancontact payments have a refund period of up to 180 days after the original payment date. 

Advantages Of Using Bancontact As A Hosted Payment Page System

The best feature of the application is real-time confirmation and the guarantee of payment. For Belgian residents, this system is familiar, secure, and is extremely easy to use for any kind of customer. Additionally, the mobile application is well-optimized and is well integrated with online and mobile banking. 

Advantages For Merchants

Similar to the advantages for customers, Bancontact provides real-time payments that are low to no-risk and is a trusted payment solution by all of Belgium’s major banks. Because of this trustworthy and well-optimized system, sales are a breeze! The automatic enrollment system that utilizes QR codes and the application on mobile to make payments further expedites the process of making a purchase.

Conclusion

Hosted payment pages are important in running an eCommerce business, which is why investing in a premium payment page is worthwhile. The general rule of thumb is that the more steps a customer needs to take to buy something online, the more likely they are to abandon their cart. By utilizing streamlined payment pages like Stripe or Bancontact, the transactions made are easier and will make people think less about buying things from your store. 


Payment Page is a premium payment page builder that aims to assist international businesses of any scale craft easy-to-use and hassle-free checkout processes using apps like Stripe. We believe that the biggest factor that hampers an eCommerce store’s ability to sell all over is the lack of proper payment page builders, which is why we are here to help.

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Stripe Tutorials

How to Accept Giropay Payments through Stripe: A Guide

Giropay is a bank debit payment method used in Germany. Nearly all German banks link with it, including Sparkasse, Volksbanken, GLS Gemeinschaftsbank, Deutsche Kreditbank, Bankhaus Ellwanger, Bankhaus Bauer, and more. It lets customers transact online and pay through their savings or debit account.

Customers verify payments through this option with either a two-factor authentication system or a PIN. Paying through here is suitable for business models that need guaranteed payments. Once the customer has verified his security details, the funds are automatically transmitted. This method is similar to Bancontact from Belgium, Malaysia’s Financial Process Exchange (FPX), and iDEAL, from the Netherlands.

How to transact online through Giropay

Using this payment method is straightforward and does not take more than five steps. An e-commerce store looking to present it as a choice for customers can use a payment page builder to integrate it with their store.

  1. First, the customer lands on the checkout screen at the merchant’s website. When he selects Giropay as the payment option, he will be redirected to the page for finalizing payments.
  2. On Giropay’s page, he enters his bank details and confirms the purchase. Once he has done this, he will receive an SMS with his authentication number.
  3. The user enters the number into the redirect page, and hits send. Instead of two-factor authentication, some people get a second redirect to their bank’s website, where they will input a PIN they have set for online transactions.
  4. After confirming the purchase a second time, the Giropay redirect screen will confirm that the payment is complete.
  5. Some merchants redirect the shopper back to their website after this entire process. If he has an account with the e-commerce site, he can view their order’s progress.

What are the benefits of using this method?

Giropay serves as a gateway, letting customers transfer funds between local banks or purchase online via bank transfer. The system uses AES 256-bit encryption with TLS 1.2, which means your money will be safe when you use this method.

Payments made through this option are free for the customer since these are coursed through their banking partner. Furthermore, Giropay can be integrated with international money transfer services like Skrill and PayPal, which lets users enjoy greater flexibility, especially when purchasing items from international sellers.

How secure is Giropay against fraud?

Fraud and unrecognized payments are unlikely with this method since the customer is the one who authorizes the transfer of funds. Since there are no recurring payments, there is no dispute process that might result in a chargeback and withdrawing of funds.

If one happens, a dispute is likely to be between the customer and their bank and will be handled between them. There will be no dispute information on the dashboard.

Are refunds possible on this platform?

You can apply for refunds for transactions completed through Giropay, but there is a window for it. Applications for a refund may only be processed within 180 days from the original charge date. After this, the user can no longer refund the charge.

Conclusion

Giropay is a secure and reliable way to transfer funds. Integrating this payment method will give Europe-based customers more options for transactions and personalizes their e-commerce experience.


Payment Page helps you tailor your audience’s shopping journey to your e-commerce store. Create a hosted payment page to integrate with your WordPress website and make online transactions easier than before. Join us today or get in touch for more details!

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Stripe Tutorials

How to Accept Klarna Payments Through Stripe: A Guide

Klarna is one of the largest Swedish banks today, offering online banking payment options to 85 million consumers through 200,000 merchants. The bank is in 17 countries, including Austria, Denmark, Finland, Germany, Norway, The Netherlands, the UK, and the US. Some of the world’s largest brands integrate with Klarna, including Timberland, Sephora, H&M, The North Face, and more.

One of the biggest draws to Klarna is how many choices it offers to customers regarding payment. There are three different payment options you can integrate using a payment page builder—Pay Later, Pay Now, and Slice It. With all of these options, the bank enables upfront payments, protecting both the customer and the merchant against fraud. 

Choosing Pay Later for Klarna

Pay Later allows a shopper to complete a transaction and defer the payment for a couple of weeks. He is usually given 14 to 30 days to settle the full amount. When the customer selects Pay Later, he will undergo the following process:

  1. At the e-commerce store’s checkout screen, he chooses Pay Later as his transaction option. Then, he is redirected to the hosted page.
  2. At Klarna’s redirect page, he may be prompted to enter additional details like his birth date. After this, his order goes to the next step.
  3. The bank runs an automatic credit search using his bank details and the information he supplied on the redirect page. Once it finishes, the purchase is approved.
  4. The browser automatically redirects to the merchant website, where the user could see that the order is complete.

Choosing Pay Now for Klarna

If the customer wishes to pay at the instant that he transacts, he can choose Pay Now. This option accesses credit stored in a digital wallet; he can facilitate bank transfers or card purchases through it.

  1. At checkout, when the customer chooses Pay Now, his browser will redirect to the Klarna hosted page.
  2. If he is a new user, he will get a window prompting him to enter his account credentials. If not, he can use his previously saved information to go to the next step.
  3. Klarna confirms the transaction and debits the digital wallet. Then, the customer’s browser returns to the merchant’s website.

Choosing Slice It for Klarna

If a customer wants to make staggered payments, he can choose Slice It, which enables him to pay for the item over a period. There are various installment plans, allowing the shopper to select a payment scheme that fits his budget.

  1. A customer can select Slice It at the checkout screen, which will redirect him to Klarna’s hosted page.
  2. Once he is here, the shopper can choose the installment plan that best suits his budget. The bank offers anywhere from three to 36 months to pay, with varying interest rates.
  3. After he confirms, the browser will ask him for additional details, which the bank uses for its instant credit search.
  4. If the transaction is approved, the browser redirects to the merchant’s website and completes the checkout.

Conclusion

Klarna lets your customer choose the payment option that suits his budget. Payment confirmation is immediate for Pay Now in all regions. For most countries, Slice It and Pay Later are also immediate. In the US and the UK, merchants get a temporary confirmation, and the payment clears after five business days. Overall, it gives customers a simple, flexible way to shop on your website.

Make shopping a breeze with Payment Page. Provide your customers with various transaction modes through a hosted payment page, which integrates with a WordPress site. Join us today or get in touch for details!

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Stripe Tutorials

How to Accept SEPA Direct Debit Payments through Stripe: A Guide

Cashless payments in the European Union makes international commerce more accessible, which is the goal of the SEPA, or the Single Euro Payments Area. SEPA sets banking standards for direct debiting of Euro bank accounts in the region. Its direct debit system benefits businesses with customers in the EU, especially companies with recurring billing. 

How to make payments with SEPA Direct Debit

  1. At the checkout screen of the merchant’s website, the customer must select SEPA Direct Debit as the payment option. This action will take him to a hosted payment page.
  2. Next, the customer must provide his full name and account number in IBAN format. This has the country code, check digits, and the user’s Basic Bank Account Number.
  3. Once the bank details are verified, the customer will see a window notifying him that the transaction is complete.

Disputing a SEPA transaction is possible, and creditors maintain a “no questions asked” policy up to a point. SEPA automatically returns debit transactions to the customer if they make the dispute within eight weeks of the charge. 

After eight weeks, the customer may only dispute the payment if it is considered not authorized. In this case, the customer’s bank gets the mandate that the customer approved of the transaction. The bank also has the discretionary power to provide the customer with a refund.

If the customer’s bank is unable to debit the account because of insufficient funds or because it is frozen, the bank may reclaim the payment through a dispute as well. Decisions on SEPA Direct Debit disputes are final and may no longer be appealed.

Refunds of SEPA transactions

Refunds are only possible with SEPA within 180 days from the date of the charge. Refunds require three to four business days, and it may only be processed after the payment has been completed. If a merchant accidentally debits a customer, he should contact them immediately to prevent a dispute.

Refunds are not labeled as such when SEPA deposits money back to the buyer’s account. They process it as credit, and they include a reference to the original payment.

When issuing a refund, always inform customers that it takes five business days for the funds to clear. Long settlement periods mean a risk for confusion among the customer, the bank, and the merchant. For example, the customer might contact both his bank and the seller to dispute a transaction. If the seller issues a refund while the bank does the same, the customer might end up with two repayments for the same item.

What is a SEPA creditor identifier?

EU businesses need a SEPA creditor identifier, a uniform and standardized number that identifies the creditor clearly. Companies may have multiple creditor identifiers, but each one is unique and lets your customers locate their debit records  easily on their transaction history.

A creditor identifier also helps reduce disputed payments. You can request online for an identifier from your merchant bank. However, sellers need to specify that they are not seeking for the bank to process SEPA payments for them.

Conclusion

SEPA Direct Debit allows EU-based consumers to access their funds expediently. Integrating this payment method lets you provide more options to consumers from SEPA countries like France, Germany, Spain, Belgium, the Netherlands, and more.

Make paying for purchases even more convenient for shoppers by partnering up with Payment Page. Our hosted payment page integrates with various transaction methods, letting you provide a convenient e-commerce experience to shoppers. Join us today or get in touch to learn more about our payment page builder.

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Stripe Tutorials

How to Accept SOFORT Payments Through Stripe: A Guide

A popular bank transfer-based payment system in Germany and Austria, SOFORT banking is beginning to make its round across Europe. Without the need to create an account, SOFORT is convenient to use and incredibly safe. If you’re considering introducing a trusted and easy way for customers to pay for your products and services, here’s what you need to know about SOFORT.

How SOFORT Banking Works

If paying through SOFORT banking, customers are redirected from a hosted payment page to SOFORT’s online banking environment. Then, users will decide which account they want to perform the transfer from. The payment will then be authorized, and the client will return to the merchant site. 

Once authorization is successful, the funds will take anywhere between 2 and 14 business days to funnel into your business account. Once received, they can no longer be reversed other than through business-initiated refunds. When selling low-value or high-margin items, businesses can consider the initial authorization as one that is final and need not wait for the receipt of funds. 

Fast Facts About SOFORT

Currently active in countries such as Austria, Belgium, Germany, Italy, the Netherlands, and Spain, payments made via SOFORT are accepted in the form of Euros. Payment methods occur exclusively through bank credit transfers and don’t accept recurring payments. If needed, businesses can grant full or partial refunds. 

Disputed Payments on SOFORT

Because customers are required to authenticate SOFORT payments with their banks, the occurrence of fraud or unrecognized payments is extremely low. As such, you won’t have to dispute chargebacks or have funds withdrawn from your Stripe account. 

Failed Charges on SOFORT

If a pending charge isn’t confirmed by customers within the cut-off period, the charge automatically transitions into a failed charge. On the other hand, if the funds are received only after the cut-off period, the customer is automatically refunded. 

On average, a small value of 0.2% SOFORT charges fail. This, of course, will vary according to your customer base and industry. To mitigate any risk to your business, consider your average payment amount and types of products being sold—then, depending on your ability to cope with failed charges, you can choose to fulfill orders only after you’ve received the funds. 

Refunds on SOFORT

As previously mentioned, SOFORT can shoulder full or partial refunds, sometimes automatically. However, they can only be submitted within 180 days from the date the original charge was made. After 180 days, your customer won’t be able to receive their refund. 

If charges are still pending or unconfirmed, you can still submit them for a refund. If you’re making a full or partial refund on a pending charge, you’ll only be able to transfer the fees after its status shifts from pending to succeeded. If the charge happens to transition from pending to failed, full and partial refunds are canceled.

Conclusion

When considering SOFORT as a payment option for customers on your page, you enjoy the benefits of sourcing funds from only one provider. A SOFORT system is also easy to navigate, making account tracking all the more efficient. 

If your European business needs a custom-designed payment portal, use our payment page builder upon launch day! By signing up today, you can enjoy a 30% discount on beautifully designed templates and convenient payment options. 

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eCommerce

What Are the Benefits of Having Diverse Payment Choices?

The age of the internet has taken the world by storm. And as the world continues to progress, it continues to make ripples and trickle-down today, especially in the world of eCommerce. Small businesses, merchants, and huge companies from all over the world make use of various payment methods, all of which have been made possible thanks to digitalization. 

Cash has now become a rather unnecessary form of payment method—in the world of online shopping, credit cards, and digital wallets, such as PayPal and Apple Wallet, reign supreme. While the blueprint for business success still features marketing and traditional aspects, businesses all over the world are now urged to accept payments, regardless of location. 

By offering diverse payment options, businesses can extend their horizons, now reaching customers that have otherwise been inaccessible in the past.  

If you wish to learn more about the importance of accepting alternate forms of payment, here are some benefits you must take into consideration:

1 – It reduces the chances of cart abandonment

Shopping cart abandonment rates are high across the globe, and it’s an occurrence that has been hurting most businesses. If you’re one of the few suffering from abandoned carts, something as simple as allowing your customers the freedom to choose payment methods may be the answer. 

Experts postulate that most customers end up abandoning their carts due to the lack of payment method. In a world where customer behaviors and patterns dictate the name of the game, it’s important to always put your customers first—especially when it comes to payments. When you keep customers happy, they’ll keep coming back.

2 – It creates a better image

By offering diverse payment choices, you present yourself as a forward-thinking business. It raises your credibility and reputation, subtly letting your customers know that you’re here to stay—and therefore, worth knowing and engaging with. 

Staying on top of the digital game also lets people know that you take your work seriously, always ready to help a customer in need. It also helps you attract customers, especially the technically-savvy market pools. 

3 – It serves as a competitive advantage for businesses

Given the rapidly growing world of eCommerce and increasing competition, online businesses now compete for customers. Most online stores compete in terms of deals and prices, but payment options have now become prime competition grounds—the more convenient your payment methods are, the more attractive your brand becomes. 

Stripe checkouts, for instance, are the preferred method for many, which allows users to use cards more securely and conveniently. By offering your customers more options for payment, you not only address the issues of cart abandonment—you also create a better image for your brand, one that makes it even more attractive. 

Your Hosted Payment Page—Making Businesses For You

The payment industry has grown tremendously—from checks and cash payments, people now regard digital transactions heavily, especially since these methods make convenience and comfort possible. With online shopping rampant these days, it’s important now more than ever to heed consumer wants and needs, ever ready to exceed expectations. 

If you’re on the hunt for more payment methods to offer, we’re ready to assist! We make it easy for businesses to accept payments, especially through our special WordPress plugin that allows you to create a hosted payment page. Integrated with Stripe, we guarantee you safe and reliable options, one that will enable you to reach new heights. Reach out to us today to learn more!

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Stripe Tutorials

ACH Payments: How to Have This Payment Processing

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

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.