Lately, eCommerce has grown to show a significant rise in sales and profits. As the trends of online shopping are rising, retailers need to include payment strategies to their existing platforms to improve their services, open new sales channels, and offer secure payment gateways to customers. There are unique payment solutions that can be integrated into multi-disciplined environments.
Whether you are developing an eCommerce website or have an existing digital channel to connect with customers, you need a payment gateway to sell your products/services to global clients. Unlike earlier, there are simple, innovative, and secure online payment solutions today that avail different payment instruments.
However, adding an online payment solution to your eCommerce website is not easy in South Africa. Navigating the nation’s payments landscape is a little challenging due to specific implications. A solution by a reliable service provider of EBPP solutions can help add online payment capability to your website.
Why Do You Require Payment System for eCommerce
A payment system allows customers to make online payments for a product or a service. A payment system for eCommerce processes credit cards, transfers information between a device and a payment processor, and vice-versa. Using the system, it becomes easy to process credit cards online and let customers purchase products/services from the comfort of their homes. There is no other way to accept credit cards over the Internet without a payment gateway.
By integrating payment into your website, you can smoothen customers’ buying experience and allow financial transactions online.
For customers, online payment systems make it a lot easier to purchase a product from an eCommerce store and pay for it. After that, they receive the product at their doorstep.
It happens in just a few steps:
Step 1: A customer selects a product and adds it to the cart. Once done, the customer enters their payment information.
Step 2: Information in the form of encrypted data goes into the merchant’s processor.
Step 3: Through the processor, the transaction reaches the credit card association.
Step 4: In this step, a transaction is approved.
Setting Up eCommerce Payment Solutions
When you have a working website and a working business bank account, you are all set to set an eCommerce payment solution for your website.
In South Africa, you need to work closely with an EBBP solution provider. A reliable service provider allows digital channels to add secure, effective, and easy-to-process online payment capability. Using one of the best online payment solutions, online channels can expand their reach and monetary transactions to their existing platforms.
In a herd of online payment gateways, payment solutions like InterExchange are trustworthy systems that have been used by online retailers for a long time. There are many reasons to choose InterExchange over other payment systems, and a few of them are as follow:
- In addition to increased online security, the payment solution has real-time nature that eliminates the limitations of traditional systems. Also, it improves customer services, effectively streamlines an online store’s accounting processes, and reduces debtors' days.
- It offers high fidelity reconciliation in the case of all kinds of payment types, including EFT, card, Instructed Debit, and Credit Push.
- There are advanced features like future dated payments and payment arrangements in the safest way. Also, the solution offers real-time remittance advice to improve customer experience.
- The online payment system has lots of security features and advanced preventative techniques for fraud controls.
- For finance control, there are granular reporting options and active business activity monitoring.
Ecommerce payment solutions like InterExchange enhance the online payment capability of a store and allow a retailer to expand their services globally. In addition, online stores can streamline accounting processes through the payment solution to ensure that they serve in multi-disciplined environments.
The Takeaway
If you want to set up an eCommerce store and wish to convert an existing platform into a fully-functional online store, then you require a secure payment solution for your website. In South Africa, Interfile has the right solutions for your needs in the form of InterExchange. The ecommerce payment solutions powers your website with online payment capability and allows you to expand your digital channel.
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