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Stripe Tutorials

How to Accept Multibanco Payments through Stripe: A Guide

In a digitally-oriented and fast-paced business landscape, every day feels like a race against your busy schedule. Daily tasks like withdrawing money, depositing, or paying the bills can feel like a major hassle, but fortunately, advances in the banking industry simplify payment methods for people. 

That’s why online businesses are integrating  payment gateway methods in their system to make transactions more convenient for customers, allowing eCommerce businesses to grow rapidly on a worldwide scale. Payment processors dominate the international market, but what about integrating payment methods like Multibanco to your store? 

What is Multibanco?

Run by Sociedade Interbancária de Serviços S.A. (SIBS), Multibanco is one of the most innovative interbank networks in Portugal. It’s a revolutionary system that takes convenience to the next level for customers as it links ATMs of 27 banks in Portugal, making it easy to pay bills and other transactions using the ATM or online banking. 

When linking it to your e-commerce store, Stripe will receive the funds sent by the customer using Multibanco, which can take a few days to complete. When sending payment through online banking, the following steps take place: 

Online Banking From Multibanco to Stripe 

Step #1: Create a Source Object

If you’re looking to cater to customers in Portugal, using Sources is key to create payments that are supported by your store. Using either Stripe.js or source creation endpoint, these JavaScript libraries are platforms where you can build payment flows for your store. 

Step #2: Have the Customer Send the Funds 

Moving forward, clients or customers from Portugal can send their funds straight from their bank using either a reference or entity numbers you provided. They can initiate the transfer using either their computer, phone, or local ATM, which the merchants will display in the checkout flow and order confirmation email once the customer is pushing through with the purchase. 

As for the client, the source you created will only be set to pending, but it will change into chargeable once the customer transfers the funds. Be sure to charge the source to complete the process, or else the status will immediately cancel by default after six hours. 

Step #3: Charge the Source 

As mentioned above, the source’s status will change to “chargeable” once the customer pushes through with the transaction. It can take anywhere between minutes to days for the customer to send the funds, which is why it’s crucial to integrate webhooks to your system too as this can notify you about the changes to your source’s status. 

Once you do confirm the status change, you can set it to “charge” to complete the process. 

The Bottom Line: Payment Page Simplifies the Process of Accepting Multiple Payment Methods Across the Globe 

Bank payments and digital wallets are at an all-time high, but now online shopping is easier than ever as payment gateways like Stripe bridge the gap between businesses and foreign markets. Unfortunately, integrating different payment methods to your store is not as straightforward as it seems.
The process can be complex for you and your customers, especially when it comes to creating a seamless and easy-to-navigate payment checkout process. That’s where Payment Page comes into play, coming to you either as a WordPress plugin or a Website-as-a-Service (Waas). With our help, we can make the payment process and page setup easy in just a few clicks.

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
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.