Considerations When Setting Up Online Payment Pages

Finance & Money Blog

If you run an e-commerce business, one of your worries would be how your customers will pay for goods and services. Conventional methods such as ban payments may not be convenient for your clients since they might not reflect instantly. Online payment solutions offer real-time feedback when clients purchase items from your website. Below are a few things to consider when setting up an online payment page. 

What to Know About Online Payment Pages

You need to set up a payment gateway to receive or send funds from your clients. So, how do you set up the gateway? First, you need to set up a merchant account. It is an account that receives and processes funds from your clients and allows you to transfer them to your bank or preferred online payment solution. Then, choose a payment service provider (PSP). There are hundreds of PSPs available today. So, how do you know which PSPs to include on your website? Below are some tips; 

• Assess the PSP's reliability. The general rule is to avoid PSPs that hold customer payments or regularly go offline.
• What are your target markets? If your clients are from a particular jurisdiction, ensure the PSP is available in the region.
• Ensure your clients are well acquainted with your preferred PSP. For instance, millennials could prefer traditional PSPs, while Gen Z does not mind using new providers on the market.
• What are the PSPs transaction charges? Customers could avoid purchasing from your website if the available PSPs charge high transaction fees.
• Check how the PSPs handle disputes and their chargeback policy. Consider PSPs with highly responsive customer service that settles merchant-buyer disputes within a short period. 

What to Do After

Your next step is to ensure your website has a secure sockets layer (SSL) certificate. It is an accreditation that guarantees that your website encrypts customer information. This way, your clients do not have to worry that malicious individuals could gain access to their financial information as they attempt to make purchases from your website. You must also ensure customer convenience as they shop on the website. For instance, customers should not have to create multiple accounts every time they shop from the website. Moreover, you should only ask for essential details as they make payments. Remember, they could get bored filling out multiple forms when making small purchases. 

Your online payment page must also have essential information. For instance, customers should have access to your refund policy. Moreover, you could include a visual checkout map that directs customers on the steps to undertake as they make a purchase. It goes a long way in preventing confusion or frustration. 

For more info, contact a company like Tingg Kenya.

3 February 2023