Connection of payment gateways, or so-called Internet-acquiring, to the site of the online store expands the possibilities for payment of the order by the buyer. Despite the popularity of such a form of payment as cash on delivery, the availability of alternative payment options allows simplifying interaction with the online store to those users who for one reason or another prefer non-standard solutions.
Today, the most convenient, affordable and promising means of payment for online payments is payment systems. Understanding what payment systems are and how to connect the payment system to the site will not be difficult. There is nothing complicated about using payment systems. Having chosen a payment system for an online store, you will be able to accept payment for your goods or services, transfer money and cash them out. Registration in electronic payment systems is absolutely free, and the technical support service will help you to get answers to any questions regarding the use.
Detailed information about the integration of payment systems on the site will be useful to each owner of a website, who is interested in providing their customers with the most favorable and convenient terms of payment, meeting the wishes of consumers and ensuring the smooth operation of the system.
Payment systems for the site must meet your individual requirements, but most often the owners of sites they coincide with. So, what do we expect from the payment service for the online store?
– Stability in payment acceptance
– Favorable rates
– Flexible system of charging commission in the absence of hidden fees
– Long-term presence in the market (experience), customer support, availability of certificates.
– Easy integration with the site.
– Logical and user-friendly interface.
– Acceptance of all variants of online payments in demand among the consumer audience.
This is, of course, just a minimum program. It will be good to test the service of payment acceptance for the site to make sure in practice its quality. But before we go directly to the practical issues of choosing a payment system for the site, we will consider what types of payment systems for payment in online stores are available to us today.
Payment systems for the site – types and characteristics
When planning to open an e-commerce business, you will inevitably face the question: “Which payment system to choose for the online store? A list of the main online payment systems will provide you with information for reflection.
– Payment terminals: Payment terminals can be found everywhere today. This method of payment is available to every buyer, but, statistically, the preference for payment through terminals is given by people of older generation.
– Electronic money. This is one of the most popular and convenient ways of payment, which uses a lot of people, thanks to the undeniable advantage – the ease of connection and operation. To get an e-wallet does not require a financial investment, there are also various ways to replenish it or withdraw money.
– Bank transfers. Acceptance of online payments via bank transfers is rare today. This fact is explained by the difficulties and time-consuming process of processing a bank account, visits to a branch, queues and so on. So, despite the high reliability and security, such payment systems are almost not in demand.
– Plastic cards. Payment through this service is deservedly popular. Most modern people prefer to use credit and debit cards. The total volume of payments for purchases and services with the help of plastic cards is steadily growing. But linking payment systems to the site in this case is somewhat more difficult than in the case of electronic money. It is also necessary to think about protection against all kinds of fraudulent schemes.
– Payment system assemblers. Such payment systems are of the greatest interest. A huge advantage is a full range of payment methods, so there is no need to connect each separately. Installing the module of payment acceptance for online stores, you immediately get different options. The pitfall is only the need to pay a commission for the use of the aggregator, but this commission rarely exceeds 5% of the payment amount.
It remains to mention cash payment and cash on delivery. Payment upon receipt of goods (to the courier or in the post office) – an option that most online store customers consider the safest.
Imposed payment implies additional expenses of the buyer for sending money back and some risk for the seller. If the customer does not come for a parcel, the cost of shipping the goods in both directions and storage at the post office seller will have to pay from his pocket. However, for online stores, this type of payment can be considered mandatory.
One of the main advantages of integrating the site with electronic payment systems is the ability to accept payments from customers as an individual in automatic mode. This is a great option for novice entrepreneurs who do not yet have a lot of turnovers. Moreover, for popular CMS there are eCommerce analytics that simplify survey of the data of your business.
Payment systems for websites and online stores – the scheme of work
– 1. The buyer places an order for any goods or services in the online shop. The formed order is assigned a unique individual number.
– 2. The order data is received by the payment service, and the customer of the store is redirected to the site of the payment system.
– 3. The payment acceptance service offers the buyer a choice of payment method: payment card, electronic money or other options. Having made a choice of payment by card, for example, the client enters its data on the site.
– 4. The payment system checks the received data and carries out the payment transaction, providing the necessary level of security for the transaction.
– 5. Regardless of whether the transaction was successful or not, the payment service returns the customer to the online store and sends information about the results of the transaction to the server.
There are two ways to add a payment system to the site to accept payment from customers:
– 1. It is independent to set up the connection to each payment service.
– 2. The connection can be done with the help of payment aggregators.
The first option is justified in the case when at very high turnover in the online store commission of the payment aggregator is higher than the cost of developing separate mechanisms of integration with different payment services. But usually, it is advisable to connect payment systems via aggregators.
All payment aggregators offer a ready-made solution to connect payment systems to the site. Decide which payment system is the best for the site, you have to decide for yourself.