Have you created a website to make your products and services easily available to customers?
There is a trend in buying goods and services using online platforms. It is easy to choose a product and click a button to place the order. Some customers prefer digital payment methods for paperless transactions.
However, although these digital payment modes have become popular, lots of buyers like to stick to offline payment methods.
Thus, you have to include both online and offline payment options for customers using your business website.
Online Payment Modes
PayPal is accepted in most of the countries in this world. When you have a global standard website, you can choose it as one of the payment modes. PayPal enables you to receive and send payments in 25 currencies. It is a highly popular peer-to-peer service provider.
Based on your business and personal account, you can find a difference in PayPal fees. The platform is free for domestic transfers that need no currency conversion. With a few clicks, you can transfer the PayPal balance to the registered bank account.
It is another reliable global payment mode available in over 200 countries. Payoneer helps in accepting 150 currencies. You can open your Payoneer account free of cost. It provides you with different ways to receive, send, and manage money. However, the fee structure is slightly complicated.
Based on the type of currency, you may need to pay an amount to withdraw money. You may transfer your funds to your bank account from the Payoneer account in some other currencies. In that case, your charge is 2% above the current interbank rate. Similarly, when it is not a different currency, you need to pay about $1.50 for the process.
Skrill is one of the highly acceptable modes to get payments from your customers. You can find easy deposits and instant withdrawals with this mode. There is no need to pay a high transaction charge, and you can accept payments in 40 currencies. Your successful referral will help you to earn 10% of the fees generated from the transaction.
It is one of the new additions to the e-payment modes. Still, Amazon Pay has become a popular, internationally acceptable payment gateway. The user-friendly interface makes it easy for users to use the payment system. Moreover, you need to pay a low fee for the transaction. Moreover, multi-currency capabilities have become another attraction to users.
It is an innovation of PayPal and helps users in different ways. Furthermore, you may create merchant accounts to process your transactions. More than 45 countries have accepted this digital payment mode, and thus, you may add it to your website for your customers.
With a versatile API, Stripe has started gaining popularity in the past few years. Based on your needs, you may customize the platform. The on-demand marketplaces and subscription-based websites choose this payment mode. You may integrate Strip with several platforms. There is no need to deal with a complicated setup. Moreover, you will find no hidden fees charged for the transaction.
Offline Payment Modes
Cash-on-Delivery
COD is a very popular payment method in some countries, as customers like to pay money after receiving goods and services. However, when you have an international standard website, you may limit this payment method in some countries. The shippers will receive funds from customers while delivering a product. The carrier service may charge you and you need to adjust the fee later.
Bank deposit
Although you have set up a digital store, you may let your customers make payments into your bank account. In that case, you have to mention your bank account details on the website. Your customers will send the amount to your account, and you need to send a confirmation message to finalize the deal. There is no need to use any payment gateway in this transaction method.
Pay by check
Some websites enable customers to pay the amount by check. To make this payment method successful, you have to display some instructions with your mailing address. After placing the order, your customers will find the instructions and information that you have provided.
It is now clear that the number of digital payment methods is higher than that of offline modes. You may need to integrate multiple payment systems into your website.
Choose at least one offline mode for your customers. When your customers feel that online methods are not safe, they can prefer offline ones. You have to make your website secure to ensure no data loss during the digital transaction.
International payment systems are perfect for global standard business. Check out the transaction fee, reliability, and other features to decide on the right payment modes.
In a nutshell, in today’s world of online marketing, customers demand faster and more flexible online payment options.
Also, your buyers must be able to pay you anytime and from anywhere and on any operating system or device.
Moreover, one-click payments, cross-sales, and recurring payments are the recent trends in the online payment sector, which would facilitate faster transactions, and hence boost your conversions.
Regardless of the gateway that you choose and the accessibility of your e-commerce store, your business will be successful mostly based on marketing. To view all of the payment gateways and see which software supports each method, you can go to our Payment Gateways page.
If you would like a free custom quote to add a payment gateway or you would like more information on one of the iScripts products, feel free to send an email to sales@iscripts.com or you can always give us a call at (312) 423-6728!
