A Brief Note on Electronic Payments

An Electronic Payment can be simply defined as paying for goods or services on the internet. It includes all financial operations using electronic devices. It comes with various methods, like credit or debit card payments or bank transfers. In fact one of the most popular and common online payment methods nowadays are credit cards.

An online payment solution helps to accept and process credit card payments.

How E- Payment works?

Online payments are made instantly. Therefore, it’s convenient and saves lots of time. However, the entire process behind the payment system is complex.

Here are the basics to make you understand it better-

• Customer action– The process begins when a customer visits the merchant’s site and adds to the cart items the products or services they want to buy. Thereafter, they need to fill out the payment form with certain information such as card number, expiration date etc.
  Depending on the payment method, the customer might be redirected to external service or bank’s website or continue the payment on the website or in an app.

• Payment authentication by the operator– The payment gateway checks whether the payment information is valid. If everything seems fine, the process continues and the payment gateway reports back the successful transaction. After which the customer receives a payment confirmation. The notification is usually displayed in real-time.

• Payment to the seller’s account– An online payment provider accepts a payment from a customer’s bank and transfers it to the merchant’s account.

Accepting electronic payments comes with lots of benefits for both merchants and consumers. These are highly effective for international transactions. It is cheaper, easier and faster than any other payment methods.

Online Credit Card Processing

Payment Gateway essentially deals with the online credit card processing. With the rise in electronic means of money transactions, paying through debit or credit card has become a necessity for the majority of us. Choosing a proper processor is very important to make the complete payment process fast and secure. It should also be hassle free without any hidden charges or any other fees. Payment processing speed and security could be a deal breaker if the customer is not up to the mark.

Accepting credit card is not sufficient, you should also look for a merchant account services. A few payment processing companies also have a high merchant account rate. A proper Credit Card processor for online credit card processing Lesotho or Online credit card processing Swaziland provides support in every aspect of your business starting from merchant account processing .

 The processing of credit cards and debit cards from both the front-end and back-end is the key to a proper business merchant processing. The details of cards along many devices like mobile device, POS, etc., and verified data according to the card holders name is taken care of. In fact the transfer request is sent almost immediately for crediting the same amount to the merchant's account.

In order to assure the merchant of the security and speed of the processing, the companies are engaging  in making the payment gateway more encrypted. Thus, any chances of forgery or hacking can be avoided. Also, choosing right Payment Gateway Lesotho continues to be a great protector for the security of the transaction.

 You will need a merchant account with your bank and also permission from the bank to process credit cards without a signature, to utilize a manual payment gateway. You might also need access to a facility such as an eftpos machine or online processing system to process the payments through.

Choosing the Right Payment Gateway Solutions

E-commerce is fast catching on and with its increasing popularity many businesses have started selling online. But having a site and a whole range of items is not the only need when it comes to conducting business online. In fact for a company that wants to sell items on the internet more effectively it also needs to be able to accept online payments. Cash on delivery is still an option but people today prefer making payments online rather than using hard cash. This is why it is essential for companies to have payment gateway solutions.

These services help you accept payments online and even provide ease of transactions to customers. But before you decide to go in for such services here are a few features that your payment gateway solutions should have-

• High level security- Since online transactions today face a lot of fraud and hacking it is important that such solutions give great security for you and your customers.

• Multiple payment options- These services should have multiple payment options available so that you can accept payment in a more easy and efficient manner.

• They should be easy to use so that customers don’t find it difficult to make payments.

• Authentication and login is a must have feature.

• It should be PCI compliant- This is a security standard.

• Should allow you to accept payments from all major cards. There are a number of credit card companies today and your online credit card processing Lesotho solutions should be able to accept payments from all top names.

These are some must have features and should be your main priority before getting a payment gateway installed.

It is also important for a business to find the right online payments solutions provider as only such companies can offer you the most suitable and high quality solutions. Whether you need a payment gateway Lesotho, Online credit card processing Swaziland or other such solutions be sure to find an experienced service provider. With the right solutions your business will be able.

Things to Consider Before Choosing a Payment Gateway

Market has abundance of payment gateways options these days but to choose the best for your requirements remains a challenge. The era of delayed banking processes has been replaced by smart Payment Gateway Swaziland options that are fast and reliable. Below are some of the important factors to be considered before choosing a payment solution:

3-D Secure 

3-D secure protocol ensures authorized way to Accept payments online in Africa or other places and if the card being used is genuine, not stolen. With the 3-D secure, the customer’s bank verifies his/her identity during a payment, generally by sending a code to the linked phone number. 

Low commission rate 

Everyone likes to have cost effective solutions as much as possible, and difference in percentage points in commission can quickly add up when monthly turnover is high. One must choose the most economical option, so that you don’t have to pay extra money. 

International cards acceptance

In the time of globalization, everyone tries to cater to national as well as international customers, hence it becomes a prerequisite that your payment gateway can accept payments online Lesotho as well as other countries. If you are planning not to extend your business to other countries, then there could be a possibility of foreign customers living in your country, so you must consider this factor. 

Reactive customer service

When it comes to money then everyone looks for a payment gateway that is responsive and quick in approach. So it is recommended to select a payment gateway service provider that is experienced, and has a skilled team of dedicated professionals who are easily reachable. 

The Need for Secure Online Payment Solutions

We are in the digital age today where almost everything can now be done online. From making travel reservations to shopping and even ordering food all this is now made easy and can be done from the comfort of our homes. But while things are now just a click of a button away the need of the hour is security.

Online transactions today face a lot of security breaches and for this not just users but even online businesses now have to be careful. Security threats to online transactions are many the major of which being credit card information stealing, card fraud, failed transactions and false aliases. Companies that offer option for online payments have to make sure that their services are secure and well- protected otherwise not only will they face client backlash but will even lose out on credibility.  

So, if a business is need of reliable and secure solutions for payment gateway Swaziland or online credit card processing Namibia here are some things to take care of-

• Start with finding an experienced and competent company that offers online payment solutions
• Be sure to see if your services are PCI DSS complaint as these are major security standards today
• Ensure that the services you are getting have proper encryption in place along with login and captcha options
• Be sure to conduct a security assessment of your web page on a regular basis and update from time to time to keep with the latest changes
• Also have fraud management systems in place

By ensuring such things a business with find it easier to accept payments online Lesotho or anywhere else in a safe and secure manner

4 Business Advantages of Payment Gateway in Namibia

If you are running an e-commerce website or any other website where you have to accept payment from consumers, then implementing payment gateway is the right option. An online payment gateway makes the selling faster and easy with full security assurance. If you make your customer's payment secure and provide them their money assurance then they will surely use your website.

Here are some 4 business advantages of accepting payment online in Namibia.

Instant payment

One of the greatest advantages of accepting payment online is that it is done very quickly within some seconds. You can send payment anytime and anywhere around the world. The system easily provides instant notification that makes customer remain assured.

Quick and easy setup

Setting up a debit and credit card details online is quick and easy which just requires your few minutes time. Also, there are many online payment services that provide an affordable plan with very low transactionalrates.

Recurring payments

An online payment method is suitable as instead of sending reminders every time and offering request for payment, you can easily collect payments after the end of the subscription.  This makes your customers happier and you could gain a happy customer forever.

Affiliate marketing

You can easily create an affiliate marketing program if you have an online payment system in place. Your affiliates can earn referrals commissions by easily sending customers to you. This delivers you a good number of sales and increases revenue.