Almost 80 percent of people who buy online prefer to use their credit card. It is therefore highly recommended for e-commerce sites to take advantage of online card payment systems to boost sales. But how does it work? First of all, you have to subscribe to a contract with a payment institution, usually a bank. You can choose the bank with which you already have your business account. In addition to the contract, you must also subscribe to the payment module.
Bank charges are very important. However, contracting your solution with an online payment system also allows you to take advantage of the 3-D Secure payment, which is a guarantee of security for your client. It covers the security of the transaction.
However, the 3-D Secure payment includes an additional step in the payment process since your customer will need to go to an additional page to indicate certain information (date of birth of the cardholder, verification code received by SMS) to guarantee the security of the transaction. You can also avoid going through your bank.
Which payment method to choose for your e-commerce?
Why choose these online payment solutions when you can go through your bank? For several reasons in fact: often cheaper on transaction fees, no registration fees and setting up. In addition, there is no fixed monthly fee, the account includes payment security solutions and convenient quick set up.
Before choosing your online payment solution, remember to check if they fit easily on your website, and if they are compatible with what you are looking for. For example, not all solutions offer recurring monthly payment features or handle multiple payments.
These online payment methods work together with your bank, since once the payment is cashed, they return the amount to your bank account within 2-4 business days. Also, note that banks will tell you that the solutions listed do not include 3D Secure, which is mandatory by law.
In the online payments sector, there is a dominant player that is the preferred means of payment for users around the world. The payment option is preferred after that of the bank card. It accounts for 27 percent of online purchases.
Thus, it remains a staple of online payment for e-merchants. Being simple and quick to implement and offering a direct service for the implementation of the module in your site, you should not do without it. In addition, unlike credit cards, the establishment of this method of payment does not require a contract for Distance Selling and implementation is immediate. However, the online payment solutions entails some costs.
