Tag: online payment

How To Choose The Best Payment Solution For Your Company?

Posted on | by dpgadmin | 10 Comments on How To Choose The Best Payment Solution For Your Company?

      Back then, when we only used cash to pay, there was no question about it. There are now so many payment solutions that it is difficult to determine which payment method to choose. Do I take an ATM, and does it have to be mobile? Do I accept credit cards or not? Do I want to offer contactless payment?

Those are good questions, but there are two important questions to ask yourself first:

Which payment method do my customers want to use?

Which payment solution suits my company best?

Which Payment Method Do My Customers Want To Use?

Today, customers find it increasingly important to be able to pay the way they want. In addition, the elderly often prefer to stick with the old, and young consumers opt for the new. For older customers, you probably don’t need to come up with innovations. If your target group consists of younger
customers, it can help to show that you are moving with the times and therefore also offer contactless payment.

Which Payment Solution Suits My Company Best?

Which payment method best suits your company is also important. There are now stores that no longer accept cash payments at all. They have no cash in-house that needs to be counted and managed. They have thought carefully about what they want. And robbers might as well stay at home because
there is nothing for them to get anyway.

If You Withhold Reservations Or Deposit

If you ask customers for a deposit, for example, if you rent bicycles, holiday homes, or cars, it is easy to accept credit cards. Your customer does not have to bring cash as a deposit or does not have to pay the deposit by card. With the credit card, the deposit is easily reserved and only booked when the customer wants to pay.

Hotels can secure reservations by asking for a credit card payment, so you run less risk if the customer cancels at the last minute. You will not be left with empty rooms and empty hands.

If You Sell Online

Clothing stores, shoe stores, travel agencies, and hotels, but also Ebook sellers and event organizers: everything is online these days. These companies can no longer do without the option of accepting electronic payments. Research shows that online payment has become the standard, especially
in industries such as travel. Clothing stores and other branches will follow
soon.

Pay At The Counter Or The Table?

If you want customers to only be able to pay at the counter, a fixed terminal will suffice. You can’t lose these and they always stay charged. It is also possible that you have a restaurant where you want to help the customers at the table. Then take a mobile terminal, or make sure you can accept M-Pos payments (such as a mobile payment terminal, but with a regular tablet or smartphone). Your employees can then help customers everywhere in your restaurant or store and pay quickly.

Accept Online And Offline Payments

Do you want to be able to process payments in both your store and your webshop? You must also integrate a payment gateway onto your website so that you can accept payments from your website in addition to payment terminals. It is easy to arrange this through one supplier of payment solutions.

payment gateway

3 Things You Should Know While Using A Payment Gateway For your business?

Posted on | by dpgadmin | 11 Comments on 3 Things You Should Know While Using A Payment Gateway For your business?

As we all know the importance of an Online Payment Gateway is that customers get security – if they don’t receive the order, they can reverse the payment. Many credit card companies provide insurance for several days when you pay online.

With a payment system, you let visitors pay via your website without having to build an entire webshop. The visitor comes to your site, pays and you have the money in your account. But how do you choose a good payment gateway? What conditions must this meet?

Digital Payment Guru helps you to resolve such problems. It will help you to know what is Online Payment System. why it is important? which Payment Gateway you should use? and many more. And as per your requirements, Digital Payment Guru will provide a Payment Gateway Integration Service to you.

If you want to sell services or products through your website, you need a payment gateway. There are many options to choose from, but how do you know which is the best option? When choosing a payment gateway for your website, you run into the following issues:

⦁              It is often complicated to set up and implement;

⦁              You need multiple systems;

⦁              The monthly costs are high in most cases;

⦁              Or you pay a percentage per payment.

Here, we will explain what is important when choosing a payment gateway, why you need a payment gateway, and which payment gateway is best for your website. you’ll know exactly what you need to let

customers make payments through your website.

When Choosing A Payment Gateway :

It is important to know when to choose a payment gateway for your business. When choosing a payment gateway, the convenience of the customers is therefore very important, but of course, your convenience is also a major factor in the choice. As an owner, you want a payment gateway that can be trusted, is user-friendly, and calculates low costs or rather no costs at all.

You can trust Digital Payment Guru. They will help you to identify the best payment gateway for your business. And also help you with the integration services. The payment gateways are trustworthy.

Why You Need A Payment Gateway:

If you want to sell online, and therefore want to process online payments through your website, you cannot avoid the need for a payment gateway. Many people think that the only option is a webshop to sell online, but this is certainly not the case. You can also use a payment page instead of a webshop.

First of all, let’s take a look at the different Advantages and Disadvantages of both payment systems.

Online store:

  • perfect for when you want to sell many different products online
  • a huge variety of choices from webshop systems
  • recognizable and reliable for customers
  • less suitable for 1 or several products
  • a lot of technical red tape
  • checkout consisting of several pages (= poorer conversion)

Payment page:

  • suitable for 1 or several products
  • integration in your website or to be used separately
  • One-page checkout better conversion than a webshop
  • less suitable for many different products

Which Payment Gateway Is Best For Your Website :

Many payment gateways can help you and can meet your requirement. But we can’t use all those payment gateways for your Business. So, Let you know the best payment gateway for your Business:

Paypal :

PayPal provides safer, faster, and easier checkouts whether you are in India or around the world. PayPal has accepted over 200 markets and 250 million customers.

Atom:

Atom Technologies offers a bunch of payment processing services in a user-friendly manner with convenience, speed, and security over mobile.

Instamojo:

Give your customers the choice to pay via any mode:

Credit Cards, Debit Cards, net banking, Wallets, and UPI without any additional cost to your business. Multi-Channel Payment Gateway for India – SMS, Email, Whatsapp, Facebook, Website & more.

Paytm:

Paytm offers mobile solutions to over 7 million merchants. The consumer can make mobile payments from cards, Bank accounts, and digital cards among others.

PayU:

PayU provides payment methods that can be integrated into web and mobile applications.

Razorpay:

Razorpay allows businesses to accept, process, and disburse payments with its product suite. Manage your marketplace, automate NEFT/RTGS/IMPS bank transfers, collect recurring payments, and share invoices with customers – all from a single platform.

Cashfree Payments :

Cashfree Payments is a powerful and scalable payments platform built to meet the payment demands of 1,00,000+ growing businesses in India and throughout the world, such as collecting payments, sending payouts, managing foreign payments, and more.

Payoneer :

Payoneer offers fast, flexible, secure, and low-cost solutions that enable millions of businesses and professionals from over 200 countries and territories to connect and expand globally via their cross-border payments platform.

The list above shows the best payment gateway. Curious about which payment gateway for your Business is available? View all payment gateway for your Business. Let Digital Payment Guru about your company and they will easily make a pre-selection. You can then easily create a personal top three. Compare the online payment gateways with each other and find the best payment gateway for you.

Payment-Method

What You Need To Know: Payment Methods On The Internet

Posted on | by dpgadmin | 5 Comments on What You Need To Know: Payment Methods On The Internet

Payment should be easy for everyone, be it cash or electronic payment. But that is not obvious. A large group of people has difficulty with this. Think of some elderly, deaf, blind, low-literate people or people with a physical disability. It is important that they can also arrange their daily payment and banking affairs independently. And that they have as much choice as possible about how they pay. What does DNB do for accessible payment transactions?

Shopping on the Internet enjoys general popularity, above all because it is possible to shop at any hour and potential customers have the greatest possible choice.

Not only with products but also with the various payment options.

In our blog article, we go into the advantages and disadvantages of the respective payment methods.

Due to the various payment providers, paying for online shopping is very convenient.

Many online shops prefer to pay in advance because the customer has already paid for the product before it is even shipped.

Purchase On An Invoice :

From the point of view of your customers, purchasing on the account is one of the safest payment options.

The advantage: Customers first receive the goods and only then have to pay.

The same applies to returns. In the end, you only have to pay for what the buyer wants to keep.

Pay By Direct Debit :

With this payment method, the retailer has the account details and the consent of the customer, so that money can be debited from the account.

This is how online shops get their money quickly and customers can look forward to fast delivery, especially in large shops.

The advantage for customers is that the payment can be reversed within eight weeks if something goes wrong or the product is disappointing.

Shop Online With A Credit Card :

There are many countries where paying by credit card is much more popular.

Likewise, products in the B2B sector are often paid for by credit card.

After entering the credit card details, the payment can be made directly, which is a great advantage for online shops.

As with most other payment options, customers can use the so-called chargeback procedure to reclaim the amount already paid for credit card payments if there are problems with the product or shop.

The Advance Payment :

Every company is interested in the fact that payment by customers causes as few costs as possible – especially for smaller companies it is immensely important to keep costs as low as possible.

This is a way to reduce complications with late customers and thus prevent payment difficulties.

That is why prepayment is very popular with small online shops. With this payment method, the invoice amount is on the account before the goods are shipped.

In addition, many fake shops only offer this payment method. Therefore, offer different payment options so that your customers can choose the payment method that suits them best.

The Installment :

Buying in installments corresponds to modern buying behavior: Take it with you immediately, pay later – online shoppers no longer want to save for a large product for a long time. The solution: installment payments.

Customers want flexibility. This is why the financing option is particularly useful for higher-priced products.

Looking forward to the Payment Gateway work and its usefulness Digital Payment Guru helps you to identify the Best Payment Gateway for your business.

Payment Gateway

Integrating Payment Gateways for Nonprofits and Fundraising

Posted on | by dpgadmin | 5 Comments on Integrating Payment Gateways for Nonprofits and Fundraising

In today’s era of digital communication and online fundraising, nonprofits have recognized the need to simplify their supply chains and ensure simple and secure channels through which they can pay their sponsors and integrating payment gateways into their operations has been an important step towards achieving this goal.

Payment methods act as a bridge between websites or nonprofit banks and financial institutions, enabling seamless Internet transactions. This combination brings many benefits to nonprofits and fundraising efforts:

Provides ease: Payment gateways offer a wide range of payment methods such as credit/debit cards, e-wallets, and even cryptocurrencies, making it effortless for providers to they will help This feature encourages more supporters to get involved.

Security: Payment channels are equipped with robust security features, protecting sensitive provider information. This builds confidence in potential donors who may be concerned about the security of their financial data.

Automated processes: Payment gateway integration allows for automated donation tracking, receipt generation and reporting. This reduces the administrative burden on nonprofit organizations, freeing up resources for more profitable activities.

Giving Back: Reimbursement strategies support giving back strategies, which are critical to the long-term sustainability of nonprofits. Donors can set donation thresholds, creating consistency in fundraising efforts.

Global reach: Payment methods facilitate international donations, expanding the reach of nonprofit donors beyond geographic boundaries.

Data insights: Nonprofits can access valuable data and analytics through payment methods, helping them understand donor behaviors, preferences, and trends. This information can guide targeted fundraising campaigns.

While there are many advantages to integrating payment gateways, it is important for nonprofits to choose the right gateway provider through factors such as transaction fees, contractual terms, and how gateways consider the alignment of the funds with their fundraising.

In conclusion, payment channels have become important tools for nonprofits and their fundraising efforts. They enhance the donor experience, improve operational efficiency, and enable nonprofits to have a greater impact in their constituencies. By adopting this technology, nonprofits can better mobilize support and funding for their products, creating a brighter future for all.

E- commerce

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

Posted on | by dpgadmin | 5 Comments on Why Do Payment Transactions Fail On An E-Commerce Site?

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.

Note: More and more circuits other than banking have emerged recently (Paypal, Apple Pay, Amazon Pay, etc.), PSPs have adapted by now offering offers covering all payment solutions and interfacing with the customer’s payment system.

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 (acquirer, card network, 3DS [3] suppliers, issuing bank).

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.

WhatsApp Pay in the World of Payment Gateway Integration

Posted on | by dpgadmin | 10 Comments on WhatsApp Pay in the World of Payment Gateway Integration

Brace yourselves for a digital revolution that is promised to change the face of digital payments today. With the perfect combination of speed and convenience, WhatsApp Pay is set to venture into the world of Payment Gateway Integration on its app by July of this year. Imagine how convenient it will be to send and receive money while chatting with your friends. By doing so, WhatsApp has cut down on various mediums and has integrated everything into one place.

 

What is UPI and how does it facilitate WhatsApp Pay?

Unified Payment Interface or UPI is an online payment system that runs in real-time. It allows peer-to-peer bank transfers through a mobile platform. WhatsApp Pay is an additional in-built feature rolled out by WhatsApp that is facilitated by the Indian government’s secure UPI payments system. It allows the transfer of funds directly between the bank accounts of its users within the app itself. All the transactions take place in real-time and reflect in the bank account instantly.

How WhatsApp achieved this?

With 1.5 billion active monthly users across 180 countries in 2017, WhatsApp stands strong as the most popular messaging app today and has an ever-growing market. In 2018, WhatsApp sent out a request to the Reserve Bank of India (RBI) for approval to provide online payment options to users in India. It is working closely with many banks across the country including HDFC Bank, Axis Bank, and SBI to offer quick and easy payment solutions with just a click. WhatsApp then rolled out WhatsApp Pay as a trial for around 10 lakh users all over India.

What are the perks of using WhatsApp Pay?

Say goodbye to shuffling between apps to transfer funds to your friends! With WhatsApp Pay, you can easily send or receive money from anyone in your contact list. Payments will be a breeze when you use this UPI-based feature. Once the transfer is completed, both the sender and receiver will get a payment notification in their chat window as a confirmation. The transactions are directly linked to your bank account which makes it easy to keep track of your funds.

How is WhatsApp Pay beneficial to WhatsApp?

With an already wide user base, WhatsApp has a huge market ready for the launch of its payment feature. Since it does not require the user to put cash into the WhatsApp account or complete the tedious process of feeding in the KYC details, users are bound to prefer WhatsApp payment as a resort to their digital payment options. Integrating a payment gateway into WhatsApp is sure to become one of the smartest decisions taken by Facebook.

How to activate WhatsApp Payment?

To successfully transfer funds, users need to follow these simple steps:

  • Use a phone number that has a country code for India. This number should be registered with the UPI-supported bank account you intend to use.
  • Go to the ‘Settings drop-down and search for the ‘Payments’ tab within the app.
  • Users will next be asked to add a bank account. Select the bank through which you wish to make the transaction from the given list.
  • Next, you will be asked to accept the terms and privacy policy of WhatsApp Payments. Ensure that you go through them before you hit accept.
  • You will receive a text message that will verify your mobile number. Wait for a few seconds and you will see a list of all the bank accounts registered with the phone number you entered. Select any one from the options to continue.
  • You then need to verify the debit card details that are linked to your bank account.
  • Enter the one-time password sent to your mobile number and set up a six-digit UPI PIN.

If you cannot find the ‘Payments’ option from the ‘Settings’ drop-down, all you need to do is find someone who has activated the WhatsApp payments feature and ask them to send you funds.

online payment

How to start sending funds through WhatsApp Pay?

After setting up your details, you are now ready to send and receive payments through WhatsApp Pay. Follow these steps to send funds to anyone from your contact list:

  • Open a chat with the person you intend to pay to and tap on the ‘Attachment’ option on the text bar.
  • Enter the amount you wish to transfer. You can send money ranging between INR 1 to INR 5000.
  • Enter the six-digit UPI PIN that you had set up earlier.
  • After processing your payment, the money will be sent to the contact.
  • Once you see two ticks, be assured that your money has successfully been transferred.

 

You will see a similar notification when you receive online payments through WhatsApp Pay. Keep a record of the online payments by going to Settings à Payments à Viewing History.

WhatsApp is about to bring a revolutionary change to the digital payments space. This will give a tough time to other competitors like Google Pay and Paytm. The beta version alone has received such positive feedback in India that the world is ready to welcome WhatsApp as a mode of digital payment. This will cut out the need for third-party apps and offer an easier, better online payment experience. So go on and set up your WhatsApp Pay account now and experience an enhanced method of digital payment.

To know how to choose the best payment solution for your company click here.