Tag: revenue

Choosing the Right E-Commerce Payment Solution

Choosing The Right E-Commerce Payment Solution

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Offering an online payment solution is essential to get started in e-commerce. This practical sheet explains the importance of choosing payment solutions for your online sales site and offers an indicative list of solutions marketed by payment service providers (PSP).

The health crisis has led to an unprecedented increase in online purchases. According to a recent study, during the lockdown, 88% of respondents bought online at least once during this period, and almost half (49%) regularly used e-commerce.

E-commerce acts as an economic shock absorber for companies. It allows SMEs and VSEs that have been able to adapt to limit the impact of the health crisis.

Deploy an online payment solution on its e-commerce site

If the e-commerce solutions of the major platforms or those made available by other players, such as banks or marketplaces natively offer payment solutions in integrated lines, companies that choose to sell on their site must do what is necessary to offer an online payment solution.

Payment service providers (PSP) provide turnkey payment solutions that allow a merchant site to accept online payments, usually by credit card. These pre-integrated and secure payment gateways can now easily be integrated into an e-commerce site.

This practical sheet explains why online payment is an essential feature of your online sales site. What are the many advantages it offers and presents the different types of players present in this market? For each of them, a list of solutions is proposed as an example

Online payment: a win-win solution

Offering online payment to your customers has as many advantages for the seller as for the buyer.

For professionals, online payment is a guarantee of security and efficiency.

It gives a modern and professional image. An online store associated with a personalized payment system is considered more serious compared to a system based on payment by bank transfer or check.

It facilitates your accounting management: automatic sending of invoices, and/or email notifications, and real-time information on payments save you time and reduce the risk of error.

It offers the ability to collect payments 24 hours a day, without the merchant needing to be present, unlike a physical payment.

It allows, thanks to the customization options offered, a successful integration into your online store to showcase your brand to your customers.

It serves your marketing strategy, for example by allowing you to offer your customers payment facilities such as payment in installments at no additional cost.

It secures transactions. Online payment is indeed more reliable and secure than payments in cash or by check), in particular thanks to the 3D Secure security system. Used by many online shops, this security protocol makes it possible to prevent fraud, by sending a code when carrying out a transaction to ensure that the card is used correctly. by its true owner.

For the customer, online payment also offers real advantages, particularly in terms of guarantees.

First safety. His banking information remains confidential. The seller does not have direct access to it. In the event of an anomaly, for example, if an abnormal sample is taken, the customer is immediately notified.

Then, he benefits from guarantees in the event of disputes, such as being able to benefit from an advantageous refund policy if a purchased product proves to be defective, undelivered, or if it does not correspond to the quality promised by the seller.

A secure online payment service can therefore help to create a feeling of trust between customer and seller, conducive to establishing a good, safe, and qualitative brand image.

Tips for choosing and installing your online payment solution

When choosing your online payment solution, it is important to pay attention to the following points:

Ask your provider if the payment page is customizable. It is preferable to have a payment page in your company’s colors rather than a payment page with a different graphic chart.

Make sure that the chosen payment service provider will credit your account in less than 48 hours. Some service providers set a minimum amount of sums received before making a payment, others define a fixed frequency or only release the funds after a period of 7 to 45 days… Too long payment periods can create cash flow problems.

Choose a payment solution offering the possibility of creating a customizable bank wording. This will allow you to use your merchant site name and avoid any misunderstanding for the buyer, who could have the impression of being debited by another company. This is an important point in the trust that the merchant must establish with his customer.

Pay attention to the hidden costs of certain payment solutions, for example, the minimum billing, the billing of unfinished transactions, and the paid options…

A payment management back office will allow you to have full access to all your transactions, statistical and reporting tools as well as a financial reconciliation tool. Without the latter, often offered by banking PSPs, this repetitive and non-value-added task can be a nightmare for your accounts.

Take an interest in after-sales service (SAV). Choose a service provider with whom you will have a dedicated technical contact who can assist you in setting up and then optimizing the means of payment for your site.

How To Collect Payments Remotely?

How To Collect Payments Remotely?

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How To Collect Payments Remotely?

E-commerce has become essential for reaching new markets. Online sales increased by 15.1% and represent 14.1% of retail trade (for product sales). Accepting remote payments for goods or services makes it possible to reach a wider audience and guarantee an optimized customer experience.

To buy in a few clicks, from the comfort of your home, remote payment methods are becoming more popular. Several options make it easy to accept payments online, regardless of the size of your business.

Why Offer Remote Payment To Your Customers?

Consumers are used to being instantly connected to information, entertainment, social media, and the items they want to buy. They expect their needs to be immediately met through technology. Their level of demand for online payments has increased and they favor companies that accept this payment convenience.

Remote payment offers several advantages, for you and your customers:

  • Save time for your customers: they can make payments wherever they are, without having to go to a physical store and wait in a queue to pay at the checkout.
  • Simplifies the payment experience: it is easier for customers to fill out a payment form online than to connect to their online bank to make a deposit or a transfer.
  • Better financial control: it is easier for the company to follow the orders it has generated, those that remain to be collected, and those that have already been paid.

The remote payment experience is an additional point of contact and communication opportunity with the customer. By diversifying your sales channels you maximize your chances of developing your turnover. You also allow consumers far from your catchment area to access your products.

COLLECT REMOTELY WITH A PAYMENT SOLUTION BY LINK

This solution is becoming more and more democratized because it allows unique payment links to accept payments in a secure environment and without a merchant site. This solution is particularly suitable for all merchants who do not have the skills, the time, or the means to devote themselves to online activity.

A payment link is a unique URL address, inserted in a message (e-mail or SMS) which, on click, directs customers to a secure web payment page on which the customer can enter their payment information and validate their transaction.

Benefits of using payment links:

Let’s take the example of a personal services agency that has to invoice the services it has just provided. Instead of issuing an invoice for deferred payment by check or bank transfer (which can cause collection problems), it sends an e-mail or text message containing a payment link. Thus, the customer makes his payment immediately by entering his bank card information in a secure environment.

Here’s how remote payment with a link works:

  • The seller confirms the order/service and asks for the customer’s mobile phone number or email address.
  • A unique and tamper-proof payment link is sent to the customer by SMS or e-mail.
  • The customer receives the e-mail or SMS, clicks on the link, and accesses a payment page inviting him to enter his bank card information as he would on an e-commerce site.
  • Payment is then processed quickly, easily, and securely.
  • The customer receives a payment notification by sms or a validation e-mail

COLLECT REMOTELY WITH A WEBSITE

For a service company, a self-employed person, or a merchant who sells products online, a common way to accept payments remotely is to set up a payment page on their website.

The customer goes to the website and enters the information relating to his payment card as well as his contact details.

A website with an online payment system offers complete flexibility to customers as they can make payments anywhere, directly from their computer or mobile phone, at any time.

To find out more on this subject, we invite you to consult our guide on How to create a merchant site for your business?

COLLECT REMOTELY WITH YOUR TYPE

We use the electronic payment terminal (TPE) of our business to make payments by bank card remotely.

A remote sale collection (VAD) with its TPE, how does it work?

  • Beforehand, check the compatibility of your equipment with your TPE maintainer by contacting the assistance number indicated on your terminal.
  • Sign a secure remote payment acceptance contract (known as a VADS electronic payment contract ), with your bank, which will then provide you with a direct debit card or merchant card.
  • Set up your EPT to accept remote payments.
  • Dealing with the client takes place over the phone. The latter communicates his bank card number and the merchant executes the payment from his TPE.

Remote payment by telephone is based on trust. Unlike the usual online payment, bank details are provided by the customer to the seller. This is responsible for making the payment.

Important points to remember:

  • Check that the distance selling software (VAD) is installed on your payment terminal.
  • The customer, remotely, must have his bank card to be able to list the different numbers on his bank card.

Remote payment with an electronic payment terminal is a less and less used payment method. In favor of a pay-by-link solution, which is an excellent payment option that is secure, easy to configure, and does not require any additional hardware.

Why Is The Bank Refusing To Accept Online Payments?

Why Is The Bank Refusing To Accept Online Payments?

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When you want to buy something, you can now use the internet to pay for it. However, your bank card is refused at some point, and we are unsure of the source of the problem. There must be a reason why your bank refuses the internet transaction. Our team provides you with all the information you need.

Credit card remote purchase functionality is being disabled.

Bank cards, in general, have the advantage of being able to settle all online transactions. Banks use a security system to protect the use of their credit as a precaution. This is the remote purchasing feature. This function is disabled for the following reasons:

  • Avoid deception.
  • Stop credit cards from falling into the wrong hands.
  • Increase the security of online banking payments.

If the agency has refused to use its credit card, access should be restored by requesting it. This process is completely free and is carried out right away to resolve this issue at the time of purchase.

On the other hand, when a customer orders a new card from his bank, this service may be discontinued. Aside from that, there are limits on his credit card to ensure better account management. That is, it is blocked once a certain amount is reached. It is then necessary to provide a fee to raise these ceilings.

Furthermore, if the establishment has refused this approach, a customer may have exceeded the withdrawal limits, which explains why his credit card has been blocked. When you recover your credit card, you must be aware of this limit.

This measure was implemented because online payment poses numerous risks. As a result, it is critical to adhere to the authorized limit before proceeding with the transactions.

Insufficient funds in his bank account

When a bank payment is blocked during an online purchase, it can cause several issues, such as exceeding the authorized limit. However, there are two other options:

  • His account balance is negative.
  • We’ve reached our authorized overdraft limit.
  • We accidentally entered the secret code.

Before purchasing items from merchant sites, you should check your bank account to ensure that the requested amount is available. In the event of a financial emergency, it is best to:

  • Make a transfer from a savings account to a checking account.
  • Then proceed to credit card payment.
  • Alternatively, use another payment method to make purchases.

To avoid such an inconvenience, it is always best to check your balance before ordering items from a merchant site or using another payment method.

Opposition to your credit card in the event of theft or loss

The bank’s refusal to accept an internet payment can also be explained by his credit card’s opposition, the reasons for which are related to its loss or theft. When you refuse your credit card, likely, you will no longer be able to pay the amount requested during a purchase, aside from the limit that you have exceeded.

As a result, even if he later finds his lost card, it is no longer usable once the opposition is made. For the procedure:

  • You must dispose of the CB in the garbage.
  • Request the bank.
  • Wait 15 days before applying for a new credit card.
  • Pay for your purchase using another method.

Error when entering your CB number

If you are unable to pay for your purchases on a merchant website, you may have entered incorrect bank account numbers. The operation would then have to be repeated for the internet payment to be validated.

It is still critical to adhere to the procedure:

  • Access your Customer Area.
  • Fill the basket with items.
  • Validate all of the terms of sale.
  • Carefully retype the numbers.
  • Validate the input and wait for a response.

In general, you must enter the 16 digits visible on the front of your credit card. It is only left to communicate the expiry date, which is four digits. This expiry date is required for the procedure to be validated. Other information, however, is also useful.

Finally, on the back of the credit card, there is a 3-digit pictogram. It needs to be entered into the merchant’s website.

After entering all of this information, you will be able to pay with your bank card over the internet and without restriction.

A problem also arises if the CB or credit has passed its expiration date. It’s usually near the bottom, just above his first and last name. If it then expires, payment for its purchases will be automatically refused. To confront this, it is suggested that you:

  • Go to the bank.
  • Bring your identification and account number.
  • Request that a new credit card is issued.
  • To activate your credit card, make a withdrawal from the distributor or a merchant.

If his credit card is still refused, it is almost certainly because he forgot to make a withdrawal. All you have to do now is restart the online payment.

A Wrong PIN

Your credit card’s confidential code is required for online payment. It will be refused and deactivated after three attempts. This means that if a code error occurs after three attempts, it can no longer be used and is blocked immediately. Hence the problem with accessing your account.

This code is a security measure to prevent fraud and other access problems. The only way to recover your credit card is to get another one from the bank. But to avoid such an error the next time, it is advisable to contact his bank so that he can re-edit the secret code.

It should be noted that if you also have an authorization card, internet transactions may fail. If the payment ceiling is exceeded, this is also the case.

His online payment was refused voluntarily by the bank.

When it comes to online purchases, this happens all the time. The refusal of payment via the Internet is due to the risks of fraud or hacking, or an exceeded ceiling. If the online establishment has refused the payments, it will be necessary to request access authorization.

To strengthen security and avoid this issue, Google has implemented a credit card protection system known as 2-factor authentication. This system is also used for internet banking payments.

Google’s 2-factor authentication requires you to: 

  • Secure access to bank accounts.
  • For transactions over 30 euros and risky payments, validate your identity in two steps.
  • Protect yourself from the threat of hacking.

When you use the same password for multiple online stores, double authentication is required.

When you want to buy something, you can now use the internet to pay for it. However, your bank card is refused at some point, and we are unsure of the source of the problem. There must be a reason why your bank refuses the internet transaction. Our team provides you with all the information you need.

Credit card remote purchase functionality is being disabled.

Bank cards, in general, have the advantage of being able to settle all online transactions. Banks use a security system to protect the use of their credit as a precaution. This is the remote purchasing feature. This function is disabled for the following reasons:

  • Avoid deception.

  • Stop credit cards from falling into the wrong hands.

  • Increase the security of online banking payments.

If the agency has refused to use its credit card, access should be restored by requesting it. This process is completely free and is carried out right away to resolve this issue at the time of purchase.

On the other hand, when a customer orders a new card from his bank, this service may be discontinued. Aside from that, there are limits on his credit card to ensure better account management. That is, it is blocked once a certain amount is reached. It is then necessary to provide a fee to raise these ceilings.

Furthermore, if the establishment has refused this approach, a customer may have exceeded the withdrawal limits, which explains why his credit card has been blocked. When you recover your credit card, you must be aware of this limit.

This measure was implemented because online payment poses numerous risks. As a result, it is critical to adhere to the authorized limit before proceeding with the transactions.

5 Essential Points For Choosing An Online Payment Solution

5 Essential Points For Choosing An Online Payment Solution

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Opening an online business requires the establishment of a payment system. To help you choose a convincing online payment solution, here are 5 criteria to observe. Choosing an unsuitable online payment solution is the main reason why Internet users are reluctant to pay online and abandon their shopping carts.

  1. An online payment solution must be secure

The first criterion for choosing an online payment solution is security. Internet users need a reassuring online payment system to validate their purchases. Banking information is indeed critical data. Customers must therefore be guaranteed that their data will not be compromised after purchase. It is therefore essential to secure the connection between the buyer and the online store.

  1. An online payment solution must be simple

Cart abandonment is mostly caused by the complexity of the online payment terminal that you will set up. Indeed, 26% of buyers abandon their purchase because of too complex validation of the transaction. The transactions must be done without fuss. Simplicity is therefore an essential criterion for choosing an online payment solution.

  1. An online payment solution must be versatile

Many e-commerce sites only accept one online payment system. Usually credit cards. Some buyers, especially professionals, pay for their purchases or service contracts by SEPA direct debit.

Multiplying the number of payment methods that can be used for your transactions will also increase your chances of closing sales. But also to retain your customers.

Choosing a versatile online payment solution also involves seeing the different ways you can use it.  In addition to your e-commerce site, you multiply the sales channels.

  1. An online payment solution must include additional tools

For a seller, transaction management is a real headache. To make your life easier, having additional tools to the online payment system is a real plus.

  1. An online payment solution must have available and responsive customer service

One of the main shortcomings of payment systems is the passivity of their customer support. A good online payment solution must have responsive customer service.

Why is good customer service an important criterion for choosing an online payment solution? Available customer service will guarantee you a fast and efficient intervention in case of concern. In short, a guarantee of security and confidence. The responsiveness of the customer support of the online payment solution that you will use will also prevent you from losing customers thanks to the rapid resolution of the various blockages that you may encounter. Both technically and concerning the overall use of the online payment system.

New Means Of Payment: New Consumer Expectations

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With the evolution of digital tools and digitalization in general, retailers are facing a transformation of the Retail sector. Retailers are implementing increasingly varied solutions in stores to meet the needs and expectations of increasingly demanding consumers.

The emergence of new means of payment and the use of new functionalities and digital tools are accelerating the process of change, and the market must deal with it by adapting to it as quickly as possible. Several questions then arise as to the strategy to adopt in the face of this sudden acceleration of consumer lifestyles.

How do retailers meet consumer expectations about new payment methods?

Payment methods

For retailers, offering different payment methods can be a competitive advantage. This makes it possible to target a wide audience regardless of their payment expectations. For this, it is necessary to use appropriate technologies to accept different means of payment.

NEW MEANS OF PAYMENT

The emergence of new technologies, coupled with consumer expectations, has given rise to a diversification of payment solutions. Indeed, more and more means have been put in place by retailers to offer consumers different payment methods. A challenge that seemed complicated a few years ago, is essential today because the diversification of payment solutions, in particular by its simplicity and speed, allows a certain loyalty of the customer. A customer will be more tempted to go to a store offering several means of payment than to a store that only accepts cash, for example. Today, some means of payment are already installed in consumer lifestyles.

Among them, contactless payment is the most widely used. This is explained by the ease of payment as well as the speed which requires much less time than inserting your credit card or paying in cash. Indeed, the solutions offered via contactless payment are multiple. It is possible to make a payment via your mobile phone or directly via a smart card. It is a fast and secure solution because on the one hand, it does not require merchants to stock cash at the checkout and, on the other hand, in the event of fraud linked to contactless payments, the payment is then guaranteed by the bank.

There are also online payment platforms that address the issue of time during transactions. The customer can then transfer money to an online account very quickly and securely.

Mobile applications have emerged with the explosion of mobile users. This solution has evolved to better meet user needs

UPCOMING TRENDS

In addition to the payment solutions already mentioned, others have been put in place to respond to the modernity of society and new technologies. More modern payment methods can be sensitive in terms of security.

The “Buy now, pay later” system makes it possible to better meet customer expectations. This functionality is used more and more and helps to establish a relationship of trust between the retailer and the consumer. Regarding the e-commerce shopping experience, this functionality could in the future become a standard offering to each customer. However, it will still be necessary to control the indebtedness and the resulting payment margins.

Other payment solutions will surely emerge shortly. The challenge for retailers is to anticipate new trends and offer more secure means of payment in the future.

Consumer expectations 

The evolution of technology and lifestyles have had the effect of increasing the expectations of consumers, who today are seen as consumer actors because they are more and more involved in the process of buying products. end to end.

PRACTICALITY THANKS TO TECHNOLOGICAL INNOVATIONS: SIMPLICITY AND SPEED

Convenience is one of the major expectations of consumers. Indeed, the simplicity and speed of payment are criteria that can act as competitive advantages.

REWARD / LOYALTY 

In addition to practicality, there are rewards and consumer loyalty. Customer loyalty is a subject that continues to evolve, strongly impacting customer

SAFETY AND SECURITY (PROCUREMENT PROCESS)

What would be the use of the diversification of means of payment if they are not secure and safe? The more a technology used is modern and almost “unknown” to the public, the more consumers will be reluctant to use it. Indeed, consumers fear the unknown and the increase in fraud confirms their doubts. This is why payment security is today a very sensitive subject that must be taken into account in the purchasing process.

There are many other expectations on the part of consumers such as the diversification of payment solutions within a store. The development of different technologies will result in changing consumer expectations.

Challenges for retailers

The new means of payment come with new challenges for retailers who must expand their offer and provide total transparency to their customers regarding the measures to protect their data.

EXPANSION OF PAYMENT SOLUTIONS (LOYALTY)

Customers today “discussed extensively their desire to see merchants equip themselves with new payment systems”.

However, what we observe is that there is still a great disparity between retailers: those who can offer a range of choices in terms of means of payment to their customers and those whose offer of payment method is very limited. This difference is reflected in the behavior of customers, who instinctively turn to retailers who offer them this flexibility in terms of means of payment.

Faced with this pressure imposed by customers, retailers have no choice but to align themselves and invest in new payment solutions. Without this, the risk of losing market share would be great.

INNOVATION VS FRAUD

If the innovation of means of payment allows customers to have a wide choice of payment methods and to improve their customer experience, it also generates new frauds and scams. Who says innovation says new frauds

Two protocols exist:

Strong Customer Authentication (SCA): technology that allows customers to authenticate using a passphrase, facial or voice recognition, or via an object they own (tablet, smartphone).

3D Secure 2 (3DS2): allows the customer’s identity to be verified via a code received by text message and/or validation via a banking application.

In short, we have seen that today the trend and the wishes of consumers tend toward digital and online payment solutions. Faced with this growth in the use of new means of payment, there are many advantages for the consumer: fluidity, simplicity, and a better shopping experience.

These new means of online payment also come with new risks of fraud. Faced with this, new regulatory measures and protocols are put in place to close security gaps.

Essential Solutions For Accepting Online Payments

Essential Solutions For Accepting Online Payments

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If you sell products or services and you don’t accept online payments, you’re cutting yourself off from sales. Some potential customers are in front of their computer, shouting “take my money” while shaking their screen and just waiting for you to allow them to pay you online (I’m hardly exaggerating!). Except they won’t wait forever; they will go fairly quickly to the competitor if he accepts online payments.

And that is the crux of the problem. We have reached a time when accepting online payments will not necessarily benefit you and place you above the competition: it has become the norm!

But when you don’t respect this standard, you end up with the consequences: not selling online will quickly squeeze you far

below everyone else and leave you alone and penniless, in a small ball, in a dark corner. to curse the system…

To know why banks refuse to accept online payments click here.

Yes, selling online can seem like a big intimidating bug. But honestly, it’s not that complicated and your fears are probably not justified. To prove it to you, we will start by demolishing a few myths:

MYTH 1: User Fees Are Too High, And Not Worth It

You know that being in business involves costs. We pass our money on all sides: we pay taxes, fees, software, rights of use, licenses… And fees associated with payment platforms. It’s the cost of being in business.

Taxes and taxes, we don’t have much leeway to save ourselves from them and remain legal. For other costs, it’s all about profitability. It’s fine and quite normal to have costs if it allows us to be even more profitable. And this is the case with online payment platforms.

MYTH #2: It’s Too Complicated For Me To Set Up Myself

Then there, it is completely wrong. It may have been true fifteen or even ten years ago, but today there are payment solutions that your five-year-old neighbor would be able to use to sell his pokémon doggies online if the desire seized him.

There’s something for every need and skill level.

MYTH #3: It Will Be Too Complicated To Manage An Online Inventory And A Physical Inventory At The Same Time

Again, wrong! There are what are called POS (point of sale) which allow synchronizing the inventory with the sales made in-store and those made online. This is not the subject of this article, but know that it exists and that there are several very interesting solutions

MYTH #4: It’s Not Worth It, My Customers Aren’t The Type To Pay Online…

First, what allows you to affirm that?  Did you survey your customers, who would have answered you unanimously “we don’t want to know anything”? If the answer is no, then these are just guesses that are very likely to be wrong. And even if that were true (and I mean “if”), don’t overlook the fact that accepting online payments would open the door to a whole new customer that could boost your sales.

MYTH #5: I Don’t Even Have A Website, I Can’t Sell Online

First, if you don’t have a website, you should. Make yourself a website, or at least a webpage. Even if you don’t have a website yet, you can still start selling online. Several solutions allow you to integrate your offer into their web application and then give you a link that you can share, or that you can integrate into a capture page (landing page) to sell products and collect on-the-spot payments.

Online Payment Solutions

Good! now that we’ve destroyed these myths, you have no valid reason not to sell online. It remains to find out which solution is ideal for you and take action!

Since there are many tools and platforms that you could use, start by asking yourself these questions to better understand your needs:

What is your budget: can you afford to invest an amount right away, or would you rather have no initial investment but let go of a higher percentage of your sales?

What do you want to sell online: a unique product? Several products that require a shopping cart? A subscription with recurring payments? Services?

What platforms do you already use? Maybe you already have a website built on WooCommerce or just a Facebook page for your business. Either way, the payment platform you choose must be compatible.

Do you want to sell internationally? In this case, the management of taxes and currencies is to be considered when you make your choice.

Do you want to sell online only, or also in person? As mentioned above, a solution compatible with a POS could be considered.

Hope this will help you to know why online payment is essential for your business and also what are the solutions to your online payment problems.

How To Accept Payments Remotely?

How To Accept Payments Remotely?

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All entrepreneurs are affected by remote payments.

Depending on the nature of your business, this type of payment may be an absolute necessity or just an opportunity to make more sales.

But do you know all the ways to collect payments remotely? By e-mail, by SMS, by telephone…?

We will start our overview of remote payment methods in a moment, but a small clarification beforehand:

We will not deal with payment solutions that require creating an e-commerce site, but only solutions that can be implemented very quickly by a self-employed person, a self-employed person, a merchant, or a VSE.

Easy remote payment with payment links

Do you know the payment links? Yes? Nope?

It is, however, the easiest method of getting paid remotely

Email or SMS is used to send a link from an application

After clicking the form link, the customer lands on a payment page, where he enters his bank card information

The customer receives a confirmation SMS or e-mail.

No need to enter the customer’s details beforehand, because payment links are a means of payment like any other and are not comparable to an invoice: instead of paying by check or with a payment terminal, the customer pays online with payment links.

Payment over the phone or by mail with the virtual terminal

It’s like having a payment terminal ready to accept card payments, except that it’s virtual. And your customer is tens or thousands of kilometers away.

How does it work?

The customer places an order over the phone or sends his order by physical mail or e-mail with his credit card details.

You enter the customer’s card data yourself into your virtual terminal

The customer receives a confirmation SMS or e-mail.

This remote payment method requires a bond of trust between the customer and the merchant. Indeed, contrary to the usual online payments, it is the merchant and not the customer who fills in this bank card data.

The remote payment modules of invoicing software

Do you still do your invoices by hand with Word and Excel?

It might be time to switch to online invoicing.

This will allow you to edit clean, standard invoices in several languages and correctly numbered, but also to accept payments by credit card and PayPal.

This will avoid checks and reduce the risk of non-payment with occasional customers. Large customers will still be able to pay you by bank transfer.

Most online invoicing software offers this service, but the number of online payment platforms varies:

You send your invoice by e-mail.

The customer clicks if he wishes on an online payment button.

He is redirected to a credit card payment page.

He receives a confirmation email and your invoicing software automatically marks the invoice as paid

Invoicing software is even capable of making reminders as long as payment has not been made!

Merchants who usually sell in B2C or newbie entrepreneurs who have not yet made the switch to online invoicing will prefer payment links.

Which remote payment method to choose?

To summarize :

Payment links are suitable for many situations in addition to a paper invoice, whether the customers are individuals or professionals.

Examples:

  • A shop, which wants to start selling online very quickly because of the pandemic situation.
  • A craftsman who prefers to be paid online rather than by check.
  • A self-employed person who does not want to give his bank details to an occasional customer and is looking for an alternative to bank transfers.

The payment modules of online invoicing software can be used both with individuals and occasional business customers, instead of transfers. Advantages: automatic reminder in the event of non-payment, automatic validation of the payment. Disadvantages: more expensive than a transfer.

The virtual terminal will be used only in the context of an online sales activity to individuals.

How Do You Know If Your Payment Is Secure On The Internet?

How Do You Know If Your Payment Is Secure On The Internet?

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E-commerce allows you to buy what you need, without even leaving the comfort of your couch. Practice! Even if more and more people are opting for online purchases daily, the question still arises of the security of payments by bank card on the Internet. Making online purchases is now a reflex for many people. Whether through a computer, a tablet, or a smartphone, however, carrying out an online transaction can expose you to dangers that do not exist in physical commerce.

What is the concrete risk when making a payment by credit card on the Internet? Having your bank details stolen. And then the problems begin: by having access to your bank details, fraudsters can then carry out fraudulent transactions without your knowledge, and you can sometimes take a little time to realize it. Fortunately, there are many reflexes to adopt to reduce the risk of fraud when shopping online.

The art of detecting a secure payment page and spotting a questionable site.

The first thing to do to make a secure online payment is to ensure that the mention ‘HTTPS://’ is present at the beginning of the URL of the payment page. It means that data protection and encryption devices are in place: sensitive data such as your credit card number will be protected and less easily accessible to web hackers.

You should also see a small icon representing a closed padlock, at the top or bottom of the browser, which means that your connection to the site is secure. If the padlock that appears is crossed out or accompanied by a yellow triangle, caution is required: it is better not to make the payment and leave the site.

Good to know: 

Are you asked to enter your card’s pin code? To send your credit card data via a simple contact form or an e-mail? Flee: you are probably on a fraudulent site. No site should ever ask you for more than four elements.

Also, before even accessing the payment page of the site that interests you, you must ensure the seriousness of the online sales site in question. In concrete terms, always beware of overly attractive and very short-lived offers and promotions that appear on your browser: they may be too good to be accurate and, above all, too good to be reliable. It is surely a bad sign if you see prices much lower than those offered by all the other competing sites.

In addition, before confirming a purchase, check that you know at least the site on which you are about to pay. If this is not the case, take the time to read reviews from consumers who may have already purchased this site. If you can’t find any or if these reviews are very negative, it’s better to give up your purchase to play it safe.

The importance of relying on a secure means of payment.

For online purchases, consider the virtual card (or e-credit card), your best for securing your online payments on the Internet.

The virtual card is a service provided by some, which allows you to take advantage of a temporary credit card number, which protects you from possible theft of your data. Concretely, when paying for an online purchase, connect to your bank’s website or mobile application to request a temporary card number for which you define the amount and the period of validity if it offers it. Once the virtual bank card has been generated, pay for your purchase by entering this virtual number in the payment field of the merchant site, instead of your real card number. You do not enter your real credit card data, so no one can intercept them. Your payment is secure, and you are reassured.

Just a point to keep in mind this solution is not always available on e-merchant sites. For example, it is not always possible to use it to book a hotel room or pay for certain transport tickets. This is because the merchants concerned may require the presentation of the card which was used to pay for the reservation to be able to access the room or withdraw the transport tickets. But, overall, apart from these exceptions, the service is available on all sites that offer payment by credit card.

The right reflexes to adopt for ever greater safety.

To make your purchases on the Internet even more secure, certain habits should be integrated into your daily life. First, do not allow e-commerce sites and mobile applications of online sellers to store your banking information.

For the same reasons, do not save your card data in your Internet browser and keep your passwords secure.

In general, avoid making an online payment if you are connected to a public WiFi because a fraudster could use a poorly encrypted internet connection to intercept some of your data. So wait to connect to a private network to complete your transaction.

Finally, to protect yourself against possible hacks, regularly update your anti-virus software and do not disable your firewall when shopping on the Internet. Also, remember to regularly monitor the transactions carried out on your bank account, to quickly identify any payment of an amount or of a nature that does not correspond to your purchases made online.

Online Payment: How Does It Work?

Online Payment: How Does It Work?

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Making an online payment is not that different from purchasing at a point of sale. Both work the same way: exchanging a good or service for payment. But in the case of an online sale, unlike a physical transaction, the two protagonists are not in contact. This specificity requires specific operating rules to ensure the smooth running of the payment. What are the prerequisites for the consumer and the merchant to know so that the exchange works properly?

Online payment – Consumer Side

How does the moment of the online transaction take place? The customer designates the product(s) of his choice, selects a payment method, then is redirected to the corresponding payment platform. To ensure that this scenario unfolds properly, a few checks should be carried out beforehand:

Does the company look serious? To answer this question, one can, for example, check that the contact details given are the correct ones (telephone, email, address), or read the general conditions of sale. A good way to complete this step is to check if there are user reviews, and if they are positive,

Is the site secure? The moment of payment is sensitive, it is essential to ensure that the exchanges are protected. To do this, make sure that the payment platform has a padlock icon visible on your browser. You can also check the site address. It must imperatively begin with the letters “HTTPS”. This is a security standard that guarantees the user that the data on the page is encrypted,

In any case, systematically keep the proof of payment after each online transaction. Also, avoid pre-registering your bank details as are sometimes offered by merchant sites.

Online Payment – Company Side

For the merchant, it is essential to offer online payment solutions adapted to its customers. The most widely used option is the bank card.

If the merchant wishes to offer more advanced payment functionalities, there are many programming interfaces (or APIs) made available by different providers. This means that it is possible to personalize the online payment solutions offered, for example by allowing consumers to pay in installments.

To ensure the smooth running of online payments, the company is responsible for providing its customers with appropriate solutions, combining security and simplicity!

Online Payment – Rights And Duties

When paying online, the total price must be indicated, taking into account taxes, any additional costs, and delivery,

Once the payment has been made, the company has a maximum period of 30 days to deliver the order,

The consumer has a right of withdrawal of 14 days from receipt of his purchase. This can therefore be canceled without justification during this period, and must be reimbursed in full by the company,

When purchasing by credit card, the merchant site may legitimately ask you for your card number, and its expiry date.

Today, making an online payment is no riskier than a physical purchase. At the same time, the platforms are becoming simpler, both for companies and consumers. These payment methods are now integrated into the daily life of Internet users!

Why Do Payment Transactions Fail On An E-Commerce Site?

Why Do Payment Transactions Fail On An E-Commerce Site?

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Depending on the market, business sector, or geography, between 5% and 20% of payment transactions fail once a customer clicks on the “Pay” button!

This automatically means a loss of 5% to 20% of sales for the e-commerce site and therefore a significant impact on its turnover.

But how does this black box that is the payment process work? How to avoid errors? And above all, how to optimize your payment system?

‍The Hidden Face Of The “Pay” Button

Each country or region of the world has its cultural habits of online payment. B2B uses bank transfers more often, while B2C will approach 100% card payments.

In the scenario of payment by credit card, there are several actors:

  • The customer’s Issuing Bank
  • The merchant’s Acquiring Bank
  • The payment Service Provider (PSP): this is the heart of the process, it manages the different means of payment, works with acquirers (sometimes their own, sometimes local) takes care of the legal authorizations… and invoices your transaction fees according to all these parameters
  • And of course the customer and the merchant

A payment procedure will take place in 2 steps.

Step 1 – Authorization:

Indeed when a customer pays online, he is not automatically debited from his account, he simply requests a purchase authorization from his bank: This is the authorization process.

The PSP receives the banking information and asks the issuing bank (your customer’s bank) if they wish to accept or refuse the authorization of the transaction. The issuing bank chooses whether or not to validate a transaction. To do so, it relies on financial and risk parameters.

From a financial point of view, the issuing bank will accept the transaction if the customer can pay (customer history, money in the bank account, payment limit, etc.).

From a risk point of view, the issuing bank will accept the transaction if it considers that it is not a fraudulent transaction (MCC- Merchant Category Code, secure site, location of the site about the customer, transaction history refused). Indeed, for financial and legal reasons, banks must maintain a low level of fraud and thus reject transactions in case of doubt.

Step 2 – Payment:

It is only later (between a few hours and a few days) that the merchant will receive the amount linked to this transaction in his bank account: This is the settlement process.

The merchant, via the acquirer, will send all the authorizations previously received to the card network (Visa, Mastercard, etc.) to collect the funds from the customer’s bank and simultaneously send the funds to the e-commerce site.

The 3 Main Reasons For Payment Failures

Technical Issues

The payment process involves many intermediaries. In addition to the PSP, other sub-suppliers are involved.

To reduce these so-called technical failures, the best option is to create a more flexible payment infrastructure: In effect, you can cascade multiple PSPs to ensure that your transactions always have a working route.

For example, depending on the geographical origin, you can route the payment to the PSP most suited to the region. Similarly, you can set up a payment route to test a first generalist PSP for example (at lower costs) then test a second more local one in the event of failure (at higher costs than the first but with a higher success rate for this region). Another example you can choose to disengage the 3DS when this service is faced with downtime and thus not block all your transactions. Anticipation, auditing, and knowledge of your PSP’s routing routes will be key in resolving these issues.

Risky Trades

Payment failures following a risk assessment generally stem from a lack of trust on the part of the issuing bank (that of the customer) or the acquirer (the intermediary between the PSP and the bank). Several parameters can be taken into account to define the risk profile of a transaction: location, country of the card compared to the country of the merchant, time, amount, etc.

There are many ways to “reassure” the issuing bank. The most important thing is to send the correct information to the bank.

Each bank has its payment analysis criteria and parameters. It is up to you to adapt to facilitate the evaluation of your transactions by them.

Customer Errors (Human Errors)

Failures due to “human” errors (wrong card number, missing information field, etc.) are fairly easy to prevent and repair. This can go through UX optimizations:

  • Fields in red when an incorrect or missing element
  • Return to the easy banking information page
  • Highlighting the error with a clear explanation
  • Fields more suitable for entering card numbers
  • Avoid taking the user out of the site
  • A “disengageable” 3DS, if the buyer is known, if the amount is low, etc.

Financial Failures

When a payment fails due to a customer’s financial problem (ceiling too high, lack, no liquidity present on the customer’s account, etc.), it is a question of thinking about commercial solutions rather than technical ones. This can range from offering payment in installments and pushing a credit offer, but also for service offers, taking the risk of giving access to the product while trying to pay again in a few days.

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