Tag: revenue

Online payment

Criteria For Choosing Online Payment For Your Site?

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When you create an online store, you need a payment method so that your customers can pay you. With so many options available, how do you choose and find the one that meets your needs?

Before reviewing all the online payment solutions, let’s review the basics.

What Is An Online Payment Solution?

In simple terms, an online payment service allows you to:

  • Encrypt and send all data involved in the transaction.
  • Check and confirm that the card/payment option is authorized.
  • Once everything is encrypted and authorized, it then ensures that the transaction is processed and cleared.

Money management is a sensitive subject, what are the criteria to take into account before choosing a payment service for your store?

What Are The Criteria For A Good Payment Method?

Security

When it comes to conducting online transactions, security is always the number one priority for users. To ensure that your payment provider is secure, always check that they are PCI compliant.

All payment solutions mentioned here are compliant and have additional security measures.

The Simplicity Of Payment

Another very important factor to consider is the ease of use. 1 in 4 people abandon an order because of a “too long/complicated ordering process”.

The checkout process is a very important section of your website that you can customize to dramatically increase conversions. By reducing the number of clicks needed to buy a product, you optimize the user experience during the payment phase, which reduces the cart abandonment rate.

Payment Methods

Each customer has their online payment preferences. And each country has its preferred payment methods.

The more people can pay you, the better. The number of payment options offered on your site is also an important point.

Interestingly, e-wallets are gaining popularity and cards are losing popularity as online payment methods. Something to consider before making your choice.

Transaction Fees

Transaction fees are also important to consider.  To be competitive, some payment providers offer volume discounts and different rates for micropayments.

international payment

How To Secure International Payments For Your Business?

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        Do you plan to launch yourself, or are you taking your first steps, internationally? Before importing or exporting, it is essential to secure your international payments. Update on the main means of payment, the regulations to follow, and the tools available.

How To Manage Your International Payments?

Many means of payment exist to manage your international payments, with among the most common SEPA or SWIFT transfers, checks, commercial papers, or documentary credit. It is important to adapt your means of payment according to the amount of the transaction or your activities. The choice of payment method and the deadline is a key element of your commercial offer.

Easy to use, these common means of payment facilitate your transactions. Trade bills give the order to pay a debt and therefore secure your transactions in the event of a commercial dispute (currency law). The international bank check makes it possible to limit unpaid bills because the banking establishment approves the issuance of the check.

Involving the bank in the transaction gives you more assurance. In this, documentary credit or remittance are also two popular forms of payment since they involve the seller’s bank, but also that of the buyer, and their implementation meets uniform rules in all countries.

What Are The Regulations To Follow?

But managing your payments well also involves controlling the exchange risk. To protect yourself from the risks of transactions in different currencies, you must find out about the exchange rates.

In general, depending on the country concerned, certain means of payment may be required and it is essential to ensure local practices. To properly secure your payments, you must therefore know the regulations, your rights, and obligations to respect. Depending on the goods, the regulations vary, and articles of law in the commercial or tax code are provided for this purpose.

What Tools Do You Rely On?

To support you in your procedures, you can approach your bank or expert organizations, or even take specific training in managing your international payments. Some banking establishments offer a support service that ensures the successful completion and settlement of your international commercial contracts by making the connection between the financial and logistics services of your company.

To limit the risks and sustain your operations, also rely on the tools at your disposal, including:

Currency hedging, to hedge your transactions against rate fluctuations.

Payment insurance can cover part of the losses, such as export credit insurance.

Indian Customs can improve and streamline cargo security through the authorization of an Authorized Economic Operator (AEO). This is a voluntary program.

Online Payment

What Are The Benefits Of Online Payment To Your Business?

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               Online Payment on the website for services and products is on an upward slope and it doesn’t seem to be stopping anytime soon. People preferred to pay more to benefit from the comfort offered by the payment with the online payment option on the website.

Content :

  1. It legitimizes Your Business
  2. Avoid Security Risks
  3. Recurring Payments
  4. Impulsive Buying
  5. It Is Extremely Easy To Implement

Online Payment is all the more relevant  More precisely, we could also observe how online transactions increased,

Online payments are also essential to maintain a healthy cash flow in the business, especially since you will receive the money within a few working days (generally 3 days) and there is no need to wait. This means you’ll be able to pay your bills on time, pay your employees on time, and most importantly, grow sustainably.

In an increasingly digitized world, coming from the pandemic, comfort is more relevant than ever.

Regardless of the type of business you have, the online payment option on your website is a simple and impactful way to attract more customers, from different backgrounds and incomes. This means your services and products become more attractive to a much wider range of potential customers.

The pandemic has forced many businesses to pivot online and more and more. People are discovering the advantages of online payments, directly on business websites.

In addition, we present 5 benefits for which you should integrate online payment on your website.

  1. Online Payment Legitimizes Your Business

One of the biggest problems these days is scammers. It is also the main reason why People are worried when they buy online and choose to pay cash for delivery. But cash on delivery also means extra costs for your business.

So, paying online through an online payment processor also helps you give potential customers confidence in your website. That’s why we insist that Digital Payment Guru will help you to choose the payment gateway for your business, to help businesses be seen with confidence, and to encourage online transactions.

  1. Avoid Security Risks

Security is the most important aspect when it comes to online transactions. That’s why Digital Payment Guru as a payment gateway service provider ensures that all transactions are secured under PCI DSS Level 1 compliant technology and fraud scrub.

To secure transactions between you and your customers.

  1. Recurring Payments, Ideal Function For Online Payment

If the recurrence of payments was something specific to services, today we can also talk about physical products that certain customers want monthly, weekly, or even daily. To provide maximum convenience to your customers and ensure that you get paid every time you deliver a service or product, implement recurring payment.

At the same time, recurring payment also helps customers feel protected about the safety of the services they purchase.

All you have to do is to implement the online payment on your website, and from that moment the transition to recurring payment is done in a few clicks. Through this functionality you will be able to follow the cash flow much more clearly and, most importantly, you can make forecasts regarding the investments you want to make to develop.

  1. Impulsive Buying

An increasingly common phenomenon among young people is impulse buying. This means they will make purchases of products and services without much analysis of the competition.

If you have what they want, they will buy instantly. However, instant purchases can only be made if you allow online payment on your website.

  1. It Is Extremely Easy To Implement

We provide you with all the documentation you need and can integrate with the most relevant e-commerce platforms available on the market so that you can benefit from online payment in the shortest possible time.

Our customer support and technical support teams are at your disposal to make the transition to online transactions as easy as possible.

In conclusion, online payment helps you attract new customers, but above all, it allows you to grow your business. All you have to do is send us an email or use the contact button and we will help you, step by step, to digitize your business.

Online-Payment

Why And How You Can Integrate Online Payment On A Website?

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          so online payment is crucial to be set up and integrated before the website is launched. In the following, we will look at the payment options available and what needs to be done to keep the business running smoothly.

Payment Options :

To give your site the best chance of success, the payment options you offer must allow as many customers as possible to buy from you. That means you need to accept credit cards, debit cards, and online payment, some of the three most popular ways people pay online.

Although they are used less often, there are other payment solutions that you can use if you wish. You can, for example, accept payment by bank transfer. For smartphone users, an alternative is to allow payment through apps such as Apple Pay or Google Pay. Finally, if there is no possibility of implementing these functions at all, then it is enough to offer cashback payment.

Taking Credit And Debit Card Transactions :

In this section, we’ll look at what you need to do to accept online card payments. Payment gateways, payment processors, and merchant accounts are all things you’ll need to set up.

Opening A Merchant Account :

Standard business bank accounts don’t allow you to take online payments from debit or credit cards, so you’ll need to open a separate merchant account before you can accept them. The sole function of a merchant account is to make online payments so that once the transactions have taken place, the money is instantly transferred to your standard business account.

There is a wide range of accounts available and it is not necessary to use the one provided by the bank where you already have a business account. Indeed, it would be preferable to choose a different provider, as the fees may be lower.

And although these are a bit difficult to compare, as some banks charge a set monthly fee, some take a percentage of the value of each transaction, and others charge both ways at the same time.

Choosing A Payment Processor :

A payment processor is a third-party company that handles financial transactions between you and customers. It ensures that payment takes place by transmitting payment information, i.e. card details, from the buyer to the merchant account. Part of this process will involve communicating with the customer’s card company to authorize the payment. Payment processors also work the other way around, allowing refunds to be made and ensuring that the money goes directly into the customer’s account.

Although payment processors belong to separate companies from the merchant account provider, the fees for their services are often included in those of the merchant account.

Setting Up A Payment Gateway :

A payment gateway is software that performs several important functions such as:

  • calculates the cost of the goods in the shopping cart

  • add any VAT

  • calculates the correct shipping costs from the chosen options

  • deducts any discounts on the codes or vouchers used by the customer

  • securely retrieves and encrypts card data and customer information

In many cases, the payment gateway is provided by the payment processor and you will need to install it on the site from which the online commerce activity is carried out. If you use a CMS, such as WordPress, you can choose from a multitude of plugins specially designed to easily integrate a payment gateway.

SSL Certificate :

If you accept card payments of any kind, you will need to take steps to ensure that your customer’s financial data is kept secure during the transition from your website to your payment processor. The way you can achieve this is by getting an SSL certificate. An SSL certificate encrypts your card information and other data so that even if it is intercepted during the transition, it cannot be accessed and stolen.

Another benefit of an SSL certificate is that websites that use them have a green padlock displayed on users’ browsers to indicate that it is secure. This gives customers more confidence in making purchases, which is especially important if you own a new business looking to attract customers for the first time.

Payment Gateway

How To Know About A Payment Gateway?

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You’ve probably heard of payment gateways! As complicated as the term may sound as part of financial jargon understood only by financial gurus, you no longer need to be in the dark. It’s paramount that you learn what a payment gateway is and its functionality or role in accepting credit card payments for your products or services. Following are some important things about the payment gateway.

STEPS  : 

  1. Know what a payment gateway is. A payment gateway is a computer program that works for online business people. If you plan to sell your goods online, you must have a payment gateway.
  2. Learn how to use it. A payment gateway works in conjunction with shopping cart software.
  3. Using an online shopping cart, customers browsing through the products you have featured online can choose what they want to buy, including the color, size, quantity, etc. After the decision to purchase all the items has been made, the customer may proceed to the virtual checkout counter, where the shopping cart software not only adds up all the costs of the selected items but also adds the necessary shipping and other fees. Finally, calculate the total payment due. The shopping cart itself contains an online form in which customers enter their credit card numbers and other relevant customer information.
  4. Examine how it works. The card information entered is encrypted by the shopping cart software. Once the online form is completed, the customer clicks “SEND”. Then the payment gateway software encrypts the information and sends the data to the credit card processing company. The gateway then informs the customer whether his/her credit card transaction is accepted or declined with the appropriate return message. The whole process is carried out under extreme security measures!
  5. A payment gateway provides merchant batch processing. At the end of each business day, the payment gateway collects all the transactions that have taken place on your site and then sends them all at once to your bank. The bank then collects payments from customers and deposits them into your account.
  6. A payment gateway contains a reporting tool. The payment gateway software includes a reporting tool where you can view all the transactions of your online store. You can then view, correct or save these transactions on your PC. This way you stay up-to-date with your online site.
  7. A payment gateway screens all transactions to check for fraud. With a payment gateway, you don’t have to worry about dishonest customers using counterfeit, cloned, or stolen credit cards. It contains highly effective screening tools that exclude these fraudulent transactions.
  8. Use the virtual terminal facility. The payment gateway virtual terminal allows you to manually enter this information into the payment gateway software.

If you want a payment gateway for your online business, you can either buy it or subscribe to a company that offers a payment gateway program. Many companies offer this service. Choose one that suits your business style, needs, and budget.

Payment Gateway

What Is A Payment Gateway And How Does it Work?

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The checkout page is an essential part of any online business. Companies can achieve significantly more conversions if they offer their customers convenient payment options. By choosing a reliable payment gateway, merchants can grow their business and focus on their core business, rather than figuring out how to collect payments.

Here, Digital Payment Guru will help you with the Best Payment Gateway Integration Service. You can choose Choose from the range of Top Payment Gateways for your business.

What Is A Payment Gateway?

A Payment Gateway is an infrastructure that allows collecting and transferring. A Payment Gateway is an infrastructure that makes it possible to collect and transfer payment data from the point of interaction (Point of Interaction, PI) to the payment provider. The interaction point can be a website, a mobile device, or a terminal.

Simply put, a payment gateway allows merchants to transfer from their customers.

How Does The Payment Gateway Work?

Online transactions through a payment gateway involve several parties. Here are the main ones:

  • Company: Any type of entity that sells goods or services.
  • Consumer: The payer who makes a purchase.
  • Issuing Bank: A financial institution that holds the consumer’s account.
  • Acquiring Bank: A financial institution that maintains the seller’s agreement and account.
  • Issuer Processor: Technological partner of the issuing bank that takes care of most of the technical functions, such as pin validation (PIN – block), 3D security (ACS), etc.
  • Card System Networks: Companies that process debit/credit cards, such as Visa, Mastercard, etc.
  • Acquiring Processor: Technology partner of the acquiring bank, usually responsible for payment gateway and POS processing.

Here’s An Example Of How The Payment Gateway Might Work:

  1. A consumer initiates a payment by purchasing on a merchant’s website.
  2. The gateway on the merchant’s website sends encrypted payment card information to the card network, through the acquiring processor, on behalf of the acquiring bank.
  3. Based on the card details, the card network sends the transaction via issuer processors to the issuing bank to authenticate users (in the case of 3D secure) to check whether the balance is sufficient and, depending on the risk rules, whether the issuer has completed the transaction approves.
  4. The issuer approves or rejects the transaction and sends the response through the issuer processor, the card network, and the recipient processor to the gateway.
  5.  If the transaction is approved, the card network settles the money with the acquiring bank by transferring the money from the consumer’s bank account to the acquiring bank. The acquiring bank then deposits the money into the seller’s account, according to the contract rules and an agreed revolving reserve.
  6. This current can be shortened by eliminating the issuer processor, the receiving processor, and the card networks. made it possible for licensees to offer account-to-account payments (A2A payments). These payments enable direct transactions from the consumer’s bank account to the merchant’s account, bypassing the acquirers, processors, and card networks. cost less for merchants because they don’t have to pay card processing fees and don’t have to have revolving reserves on acquirers.
payment-gateway

How Do You Choose A Payment Gateway For E-Commerce?

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A payment gateway is an essential tool for any e-commerce business. It allows merchants to receive online payments on their websites or apps. Integrating a reliable payment gateway can help businesses increase their conversion rates, meet different consumer needs and generate more revenue. And all while offering your customers a safe and easy check-out experience.

However, with so many payment gateway providers available, choosing the best one for your e-commerce business can be challenging. This article explains what businesses should look for when choosing a payment gateway and why certain features are so important to e-commerce businesses.

Digital Payment Guru is the Best Payment Integration Service that helps you to identify the Best Payment Gateway for your Business.

Coverage :

Country coverage is an important aspect to consider when choosing an online payment platform. Some providers only accept local payment methods or support regional bank branches. Opting for such a service means that your e-commerce store will not be able to assist shoppers with foreign banks, which can significantly reduce your customer base.

When considering different mobile phones, inquire about their country coverage. Even if your e-commerce site is still growing and you only ship goods locally, a broad-coverage payment gateway allows you to scale quickly and not limit your customer base to a geographic area.

Security Features :

The security of transaction data should be a top priority for any online business. E-commerce fraud is a common problem that affects many online merchants. Choosing a payment gateway provider with robust security features can protect businesses and their customers from potential fraud.

In this case, it isn’t easy to choose a Payment Gateway. So you have to relax about the security as Digital Payment Guru the payment gateway service providers ensure that all transactions are secured under PCI DSS Level 1 compliant technology and fraud scrub.

Conversion Rate At Check-Out :

Increased conversions are one of the key benefits that a well-chosen payment gateway can bring to e-commerce businesses. Conversion growth can depend on several factors, such as a convenient payment flow, supported payment methods, and even the design of the checkout.

When trying to find out if the payment gateway can increase your conversion rate, look for evidence from other companies that use the same payment service. Client case studies can be a good source of information.

Integration Method :

Integrating a payment gateway shouldn’t be too resource-intensive, so it’s important to find out what integration options are available before choosing the service. Most have public integration documentation that can provide an overview of their integration options and the process.

Digital Payment Guru helps you with payment gateway integration service of top payment gateways like PayPal, Paytm, PayU, Instamojo & Atom at the best market rates. Digital Payment Guru can help you choose the best payment gateway for your business by analyzing your business requirements.

Price And Billing :

Pricing and billing can vary widely from payment gateway to payment gateway. Most services charge a flat fee per transaction or a percentage of the payment. Other services may offer monthly or annual subscriptions. Depending on the size of an e-commerce business, companies need to choose the most cost-effective invoicing for the business in question.

Digital Payment Guru provides a Cost Effective Solution for your Business.

Payment Gateway Boost Your E-Commerce :

A payment gateway can significantly influence the success of an e-commerce business. Therefore, it is essential to consider several factors when choosing the right online payment solution. These factors include a payment gateway’s coverage, security features, and price. It is also essential to consider which payment methods the software supports, how easily it integrates, and how it can affect the conversion rates of your e-commerce.

Digital Payment Guru provides a cost-efficient payment gateway for websites. Digital Payment Guru expands the customer base of e-commerce companies by trying to reach more than 200 Million customers. Safety and customer support are Digital payment Guru’s priorities. So businesses can rest assured that their customers will have a seamless payment experience.