fbpx
Categories
eCommerce

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

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

1. You Lack Payment Options 

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

2. Forgetting to Ask Important Questions 

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

3. Completely Overlooking Chargebacks

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

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

4. Overpaying Processing Providers 

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

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

Conclusion

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

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

Categories
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.

Categories
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!

Categories
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!

Categories
Stripe Tutorials

How to Accept Przelewy24 Payments Through Stripe: A Guide

Przelewy24, also known as P24, is a payment method hailing from Poland. It’s regarded as one of the most preferred payment methods in the country, as it is tasked to facilitate transactions and fund transfers between 165 major Polish banks and businesses. Polish regard the payment method highly, especially since it allows them to pay for online transactions using direct online transfers from their bank accounts. 

The platform is also highly secure, as it ensures a 3D customer-authenticated payment completion. Payment confirmation is also immediate and should any issues arise, refunds and partial refunds are readily available for customers. Seeing as the Polish prefer P24 as their preferred method of payment, reaching this target market requires you to adopt Przelewy24 on your business platform. 

The question now stands: how do you do it? This guide seeks to help you understand exactly just that. Through Stripe, you’ll be able to offer P24 as online payment, further winning the engagement of prospective Polish customers. Here’s how:

How will it work for my business and potential Polish customers?

Step 1: Your customers will be directed to your checkout—Stripe will then enable them to select Przelewy24 as their preferred method of payment. 

Step 2: To pay with P24, they will then be led to another secure online environment. Here, they will be asked to authenticate their payment by logging into their respective banks. Account credentials will be inputted, to be then secured through the 3D authentication method. 

Step 3: Once the customer’s details are verified, they will receive a confirmation of the payment being successfully completed. Funds will then be transferred to your business, and the rest of the buying process will ensue. 

Note: Depending on your website’s structure, your customer can either be redirected back to the checkout site for confirmation. Refunds will also depend on your platform, as Stripe and Przelewy24 only serve as third-party payment gateways. Reversing funds fall entirely on the customer and business involved. 

Are dispute payments common? What are the risks involved?

Given Przelewy24’s nature, fraud and unauthorized payments are rare. Customers are required to authenticate their details upon payment, which is directly linked to their personal bank accounts. Due to this, cases of disputes rarely ever happen, but should the issue arise, a chargeback will ensue, to be withdrawn directly from your Stripe account. 

What else should I know about Przelewy24?

Przelewy24 operates under a time out method, meaning that shoppers are only given 15 minutes to complete their transactions. This is counted from the moment they enter the P24 payment page, including the choice of bank and re-direction to the said bank. 

Users are also given the chance to pursue an offline payment transaction, however, but will also be strictly under the 15-minute grace period. With that being said, merchants are advised to let their shoppers know accordingly—payments must be done immediately, or else they risk causing problems upon missing the time-out process. 

Enlist the Help of A Hosted Payment Page

Business owners in the modern world face a big problem—with such a competitive marketplace, ensuring that customers choose their brand can be difficult to accomplish. By choosing diverse payment options, however, you’re able to convince your customers to do more business with you. 

Such is the case with Przelewy24—as the leading payment method in Poland, you now open doors of opportunity to further your business reach. All it takes is the help of Stripe and a hosted payment page, and you’re all set!

If you wish to discover more payment options, work with Payment Page! We’re a payment page builder integrated with Stripe, making it easier for business owners like you to diversify their business operations. Through our special WordPress plugin, you’ll be able to witness secure and reliable options, best fit for a growing business! 

Accept payments from all over the world with us—reach out to us for more information!

Categories
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.

Categories
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. 

Categories
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!