The world of online payments can be a confusing, with so many buzzwords and even more online payment options out there.
So, we’ve created a comprehensive guide that’s guaranteed to get your business ready for accepting online payments by the end of the day.
What You Need: The Basics
Before we begin to talk about payment gateways and merchant accounts, let’s first assess what you need to get started.
- An e-commerce website (assuming you have one)
- An Internet merchant account
- A Payment gateway
Don’t worry if you don’t have any of these things because Safe2Pay offers new business owners end-to-end solutions. All you need is a great idea, and we do the rest. Including domain registration, website development and hosting. As well as setting you up with an online merchant account, all in just one day.
So far so good. The next step is picking an online merchant account and a payment gateway that’s right for you.
What Are Internet Merchant Accounts and Payment Gateways?
We speak to many customers who are confused by these two concepts. And it’s not surprising, with so much misinformation out there it can be hard to trust what’s necessary. Don’t bury your head in the sand, understand these necessities and the whole process will become a whole lot easier.
An Internet Merchant Account
A merchant account is an online bank account that permits your business to accept and hold payments received online.
The money is held by the internet merchant account for just a few days before being deposited into your traditional bank account. During this process the card is verified and the payment is authorised.
If you don’t have one, Safe2pay can organise that for you.
Research shows that the easier you make it for your customers to pay with preferred methods, the more likely they are to follow through with a purchase.
Make sure you pick an online merchant account provider that accepts as many cards as possible.
A payment gateway facilitates transactions by becoming a bridge that transfers payment information between your website and your bank.
Your merchant bank and your payment gateway work together to process your online payments.
When picking your payment gateway, security should be your number one concern. Your Customers can’t choose their payment gateway, so it’s up to you to ensure the safety of their confidential financial information as it passes through the untrustworthy internet.
It’s with this security in mind that Safe2Pay created the most secure payment gateway. Based upon a patent protected, unique tokenisation process, ensuring that the risk of payment fraud is radically reduced.
What to Look For When Picking Your Payment Gateway
Now that you know the importance of a merchant account you will need to pick the right payment gateway for your business. By considering a few key aspects such as:
- Compatibility- Make sure your gateway is compatible with any other utilities you are using or will use.
- Fees –Do your research to make sure the fees are competitive
- Terms and conditions: as with any contract you want to make sure you read and understand the terms and conditions of your payment gateway. Make sure you focus on aspects such as, monthly fees, minimum fees,tokenisation, fraud software that is put in place to secure your customers.
- Developer tools: A legitimate provider should offer developer tools and application program interfaces that provides IT support and website design and development help.
- Security as a priority: With the present state of fraud and security breaches a payment gateway should offer fraud detection tools. At a minimum, you should require that your payment gateway provides secure tokenisation at no additional costs.
Safe2pay is an excellent payment gateway that offers low fees, integration into all your existing resources and state of the art developer tools. All of this while still being one of the most secure payment services in Australia. Join the family today!
Designing Your Website
The trick to finding the right website solution for you is to think about what your target audience will expect. It’s also crucial that it reflects your vision. Visit two or three of your favourite online stores and go all the way through to their transaction page, as if you were a legitimate customer. Notice the things about their language and design that attract you and set you at ease while making a purchase. Keep this in mind when designing your website.
Or you can avoid all the fuss and get Safe2pay to organise it all for you
You’re Ready to Accept Online Payments
The task your endeavouring is not a straightforward one, so don’t feel frustrated. Stay in control of the situation by keeping yourself informed and open to new technology.
Give your business a fighting chance by having a partner like Safe2Pay who can support and guide you.