The key to a successful online business is by providing various ecommerce payment methods. Since it involves in selling and purchasing products and services online, it is essential that customers have options on how to pay the services rendered or the products purchased.
Ecommerce is define as an online shop, therefore the use of cash is not that relevant. It is more on the virtual payment and this will serve as guide for the costumers as well as for webmasters on planning an creating an ecommerce store. So, lets tackle on the two most popular payment methods in ecommerce.
This is the most preferred payment method by customers and the most popular payment method for online purchasing. It is business-friendly, safer and easiest way to pay and get paid online. It offers a strong ecommerce merchant account which allows the businesses to accept credit card payments, send out invoices and dispute charges. It enables making payments possible across different locations, currencies, and languages. This payment method is so relevant to consumers who do not use credit cards and still want to purchase an item online for it does not necessarily require customers to have credit cards. Without this option, there is a huge possibility that you will lose potential customers who wants to purchase but can’t use or are hesitant to use credit card.
This payment method is mostly used with big budget purchases like airplane tickets and hotel or resort reservations. It will be convenient to the customer if your ecommerce website offers this kind of payment and accepts the two major credit cards which are Visa and Mastercard. The customers feel more protected and your ecommerce site will gain its credibility if you have this payment method.
All these kinds of method needs a merchant account. This allows businesses to accept payments. It also serves as agreement between retailers , a merchant bank and payment processor for the completion of any business transaction. Choosing which payment method depends on many components. You have to consider on the type of products you are selling or the type of services you are rendering, who are your target customers and so on.
For your ecommerce development, PHILWEBSERVICES, INC. offers payment gateway solutions that make it supremely easy for online retailers to accept payments anytime. It has skillful programmers who are eager to create your ideal e-storefront with the best payment gateways for even the most sophisticated online business transaction. They can setup the gateway merchant and you can then start processing payment transaction in real-time.