High Risk Payment Gateway Solution For Merchants

The Most Popular Platform or Payment Gateways Globally

Authorize.Net: It has a huge base of more than 370,000 merchants for streamlining fast and secure transactions. It doubles as a virtual POS solution and supports wide interface integrations on big and online small businesses. A wide range of PSPs worldwide also trusts it.

Stripe: Stripe is an online high-risk payment processor, which is designed especially for small online businesses. It has a vast selection of integrations, features and transparent pricing schemes. It is a convenient platform for accepting credit card via online channels. It can handle all the backend processes involved in online payments like security and automated features.

PayPal: PayPal is built on the technology that enables users to accept credit cards as well as process mobile and retail credit cards. It is great for global companies, accepts 25 currencies from 200 countries and territories. PayPal can be integrated with shopping carts, CRM solutions, eCommerce platforms, and accounting tools to propagate the operations

PayU: This gateway is very popular across Indian businesses. It focuses on the merchant needs with consumer shopping behavior. It offers innovative options that will help companies receive the money they’re owed as quickly as possible. It comes with tokenization feature and fraud management system too.

Skrill: Skrill is easy to use a payment processor that lets you control your online transactions. Designed for new featured businesses it processes the payments fast and securely as well as provides accountability for them.

We can help you to provide High-Risk Payment Gateway, High-Risk Merchant Account and other Merchant Account related services. Get in touch @ +1 (888) 622-6875. Also, you can Email - info@merchantstronghold.com

Few Online Payment Mistakes That Kill Conversion Rates

Common Online Payment Mistakes

NOT ASSURING THE SAFETY OF THE CUSTOMER’S INFORMATION

While making the online purchase, a customer has to enter a great number of personal information to your website. Not to forget the debit/credit card or internet banking details to make an online payment. If you are not providing proper security then there is a high possibility that the customers will not make the purchase.
So, it is always advised to all the merchants to offer proper security and privacy information to the website for the security of the product as well as the customer.

FORCING THE CUSTOMER TO CREATE AN ACCOUNT BEFORE MAKING PAYMENT

Every merchant needs a customer database for business but forcing the customer to create a merchant account every time he/she visits your website can be bad for business.

Furthermore, asking too much data while signing up can also force the customer to abandon the website.

But we also understand that account creation is important, and therefore to avoid such issues, you can try these tips:

Instead of asking to create an account, offer services like Sign In with Google or Facebook or any other social media account.
Furthermore, you can ask for address details and other personal information at the time of payment. Do not ask unimportant details.
Also, ask the customer to save his personal information to avoid entering them again and again. Make sure you assure the safety of this information.

REDIRECTING TO A DIFFERENT WEBSITE TO MAKE THE PAYMENT

A very common mistake that leads to a decrease in customer involvement is a redirection of the customer to another website while making the payment. Generally, the customer gets redirected to the gateway website when going for the payment, which can possibly scare them.

If this is the case with you too, them make sure you inform the customer about the same before the redirection. Other than that, make sure you add the merchant or company name clearly on the transaction receipt.

Online Payment Mistakes that kill Conversion for sure, however, it is up to the merchant whether the merchant is capable of dealing with them wisely or not.

LACK OF PAYMENT OPTIONS

There are a number of payment options available in the market. This means a customer can use a credit card, debit card, online banking, payment wallets or any other.

It is not required to add all of this information to the website for payment. But you should try adding all the important ones.

Make sure you check the in-demand payment preference of the customer in your location and try adding it your e-commerce website.

If you are still confused and do not know how to resolve the Online Payment Mistakes that kill Conversion, just get in touch with Merchant Stronghold by placing a call - +1 (888) 622 – 6875. You can also reach us by our email support service - info@merchantstronghold.com

PAYMENT GATEWAY COMPETITION IN ONLINE BUSINESSES

The eCommerce and online business in recent years have developed great payment gateways and side-by-side the ease of shopping too. Building the shopping platforms and integration of payment source has also simultaneously developed. A study subjects online commerce to reach $5.8 trillion by 2022-that would be more than 6 times the figure for brick and mortar sales shops. There is a steady growth in the cash flow of online transactions in contrast to the old school method. Most important drivers in the growth of eCommerce are the ease and security of paying online.

HERE ARE THE MOST POPULAR PLATFORM OR PAYMENT GATEWAYS GLOBALLY:

Authorize.Net: It has a huge base of more than 370,000 merchants for streamlining fast and secure transactions. It doubles as a virtual POS solution and supports wide interface integrations on big and small online businesses. A wide range of PSPs worldwide also trusts it.

Stripe: Stripe is an online payment processor, which is designed especially for small online businesses. It has a vast selection of integrations, features and transparent pricing schemes. It is a convenient platform for accepting credit card via online channels. It can handle all the backed processes involved in online payments like security and automated features.

PayPal: PayPal is built on the technology that enables users to accept credit cards as well as process mobile and retail credit cards. It is great for global companies, accepts 25 currencies from 200 countries and territories. PayPal can be integrated with shopping carts, CRM solutions, eCommerce platforms, and accounting tools to propagate the operations

Amazon: This payment gateway comes from the eCommerce giant Amazon, which is prepared for both Amazon merchants and customers. It’s very easy, reliable and a rapid platform. This gateway works more in an ecosystem-based model. With this, you can attract new as well as repetitive customers. You can even improve customer loyalty with their already inclined recurring payment options and offers.

Braintree: Merchants in more than 40 countries are using this payment gateway worldwide. It has access to a total of 130 global currencies. It offers global eCommerce tools to let companies build their own features on the platform and scale the businesses around the world. It has an interface that is best for customizability, making it great for new users.

Reliable Payment Gateway For Online Business

When you are looking for different options and want to choose a payment service provider for your business, look for the following conditions:

Find the one whose services fits your needs. Spend some time to find the right provider instead of making rash decisions based on their discounts or advertised fees.

When you own a company, in addition to a merchant account and payment gateway, you will also have to make recurring billing, remote credit card storage, PCI compliance. You will also need to have anti-fraud tools, firewall security, etc. Many providers provide some or all of these services.

From a list of prospective vendors, talk straight about the fees and services. Ask them about the rates for rewards, business, and international cards, minimum maintenance fees, chargebacks, PCI compliance, API, and its technical specification and securities, etc.

You should choose a payment service provider that has a better user experience.

Choose a vendor who is easy to contact through email, phone number or any other methods, and provides substantial support to help you through all the complexities of the business and finance.

The right payment service provider will give you options to exit anytime and they won’t charge you for that. On the contrary, you might have to pay for exiting in case of the cheapest payment gateway.

Read contracts; the terms and conditions, and policies carefully. Some “cheapest” payment service providers ask for bond or agreement for 2-4 years and charge hundreds of dollars for a cancellation fee. This is just too much to accept.

Finally, I would suggest that you invest some time in deciding to choose the right payment gateway, which will be suitable for your company and have better services. They might be little costly for you but they provide long-term safety to you. Choose value over the price for better user experience and long-term benefits.

Interesting Facts About Merchant Account Processing

While opting out for a merchant account, and choosing a payment gateway, businesses usually make mistakes some way or another. Whether you are new to the business or have lots of experience, you still might have some misconceptions about it.

Not Worth the Time – Firstly, entrepreneurs find that they have the best payment processing with the banks, some businessmen don’t care about the ease they get while doing the transactions through a merchant account.

Expensive Affair – Yes, the merchant accounts don’t come cheap, but they are not costly either. They just tell you the fees in a package where all the things are segregated and revealed as one. As well as the providers tell you the fees in percentage so, you have a clearer perspective on the rates.

Misleading Promotion – The misconception is that the service providers prevent the facts and sell the merchant accounts in higher percentages or give out misleading information as a result of non-formal training and burdened pressure to close a deal. Independent agents have a bad reputation for failing to disclose some of the more serious terms of the contracts they’re selling, especially early termination fees. Yes, there are some naturally talented and trained independent agents who have done well and can provide you with quality service.

Bad Customer Support – This whole game survives on the customer as it is fully dependent on them. It is a complete misconception that the providers don’t want to provide good customer satisfaction.

Payments are Going Cashless – Across the developed world, plastic and digital payments are overtaking cash. Cash is falling out of favor and the customers are more likely to pay by credit cards or online wallets than ever before. Offering solutions to the customers should be a merchant’s top priority (in this case, service provider), however, the rise in digital payments has also led to an increase in fraud and chargebacks.

Not all Payment Processors are Equal – Like any other service, picking the right payment processor for your company requires due diligence. Payment processors offer different levels of service and technical expertise. Perhaps the biggest mistake one can make is to assume these services are standardized and pick the first one you come across. Dig deeper and try to find the right fit for your business.

Technical Support is Crucial – Technical support is like insurance, you don’t realize how important it is until you need it. A person needs a friendly and experienced team of professionals on call. Most of the payment processors offer 24/7 helpdesk handled by experts who can guide a customer through any query.

Consider Processor Fees – A cost-benefit analysis is another crucial part of running a business. Generally, a merchant service provider in this competition opts for the best rates and customer can benefit from this. The search for the cheapest payment processor has its own consequences. One needs to consider his margins, customer preferences, technical details, and quality of service before making a pick.

Merchant Specific Services – When a merchant comes to get payment services, each one of them demands specific services like the freedom to trade to some of the specific countries, selling more products than what the website mentions.

Customers Are Going Mobile So Are Merchant Accounts – 70% of shoppers and customers now use their mobile to buy services or items. The payments are going cashless as well as the merchant accounts. Therefore, to keep up with the market and remain competitive, one needs a payment processor that offers a reliable mobile payment platform.

Virtual Terminal and Its Benefits

Virtual Terminal: Virtual Terminal is an online application or operating system where a merchant can check all the transactions and get a detailed inquiry of it. By using virtual terminal merchant can accept the payment without physically using the credit card. It is contrary to physical payment where the credit card must be present at the time of the transaction. You don’t need an electronic machine (POS) or go through any hassle if you had opted for electronic payments. What you need to do is promote payment gateway, which will allow you to process your transaction without any inconvenience. You can get your payment even from miles away within a few seconds with the help of virtual terminals. Multiple companies are now offering these facilities one of them is IBM, PayPal, Linux and many more.

How does Virtual Terminal work?

As it is online, so it obviously requires an Internet connection. Usually, it is powered by the gateway, which means each and every transaction that the customer will perform would be processed by the gateway, which we are calling the virtual terminal.

For executing the transaction the gateway lands the customer to the payment page where he puts all the required card details manually, and then after getting a confirmation from the bank, the transaction takes place. For processing the transaction, the virtual terminal charges some amount, which is called gateway fees. Virtual terminal gives diverse options of payment to the customer. In case of recurring payments, the merchant can directly ask card details from the customer for the payment, which will allow deducting the charges till the subscription ends.

Benefits of Virtual Payments

Virtual terminal helps in processing a lot of transactions instantly. It is the solution that turns your computer into a payment processing device. It will allow you to accept your payment anywhere at any time without being necessarily present there. You can even process the transaction once you get the card details of your customer over the phone or e-mail.

Virtual Terminals also centralize data and make it more secure. So the chances of fraud or scam also reduce.

Unlike their physical POS counterparts, virtual terminals can handle recurring payments, easily.

Credit Card Payment Processing Services for Apparels Stores

Painless Payment Processing Service

When we talk about payments, the first thing that a merchant would expect is a secure and uncomplicated payment processor. But it is common to come across certain complications like wrong entry, human error, duplicate authorization etc. While dealing with these issues, it is also important to take care of data security and compliance. So choosing a payment processor that simplifies these complexities rather than increasing the mess is a highly important decision that every merchant has to take.

Payment Processor for Apparels Store

Three things that your payment processor should fulfill are:

1. Connect from anywhere

2. Connect to any payment

3. Connect via the device of your choice

It is important for the merchant to choose a payment processor that provides a comfortable payment experience to his/her customer so that you can win customers trust as well as his loyalty. It is important to understand what your requirements are while choosing a payment processor. Few “must haves” are:

FLEXIBLE PAYMENT PROCESSOR

Payment processor should work in favor of your business and customer, both. It should be well integrated, should reflect the working of the business (how business operates), type of payment accepted and back-end system. A highly integrated system works as a lifeline for the merchant and the business.

SCALABLE

Payment processor should be able to cop up with the growth of the business, else merchant will end up in wasting a lot of time, resources and money in the up gradation of payment processor.

SUPPORTIVE

There are times when things do not work as planned. Choose a payment processor provider that is by your side when needed. The provider should be available either by phone or through email or live chat whenever needed.

FINAL WORDS

We at Merchant Stronghold are a leading provider of payment processing services. We have a long list of happy customers who are engaged in the apparel industry and hence, we can do the same for you! Our team understands the unique needs of various industries including clothing and they are the best professionals to meet your business needs.

Few Common Online Payment Mistakes That Kill Conversion

Online Payment Mistakes that kill Conversion – Managing an E-Commerce business is not as easy as it looks. There are a number of things that a merchant should keep in mind while selling his goods and services over the internet. And, if anything goes wrong it can affect the revenue of the entire business. Same problems are faced by users while setting up online payment methods.

FORCING THE CUSTOMER TO CREATE AN ACCOUNT BEFORE MAKING PAYMENT

Every merchant needs a customer database for business but forcing the customer to create an account every time he/she visits your website can be bad for business.

Furthermore, asking too much data while signing up can also force the customer to abandon the website.

But we also understand that account creation is important, and therefore to avoid such issues, you can try these tips:

Instead of asking to create an account, offer services like Sign In with Google or Facebook or any other social media account.

Furthermore, you can ask for address details and other personal information at the time of payment. Do not ask unimportant details.

Also, ask the customer to save his personal information to avoid entering them again and again. Make sure you assure the safety of this information.

Other than that, you can also provide FAQ’s and customer service option to answer the query of the customer.

NO CUSTOMER SUPPORT SERVICE

Offering customer support has become as important as providing the privacy policy.

Providing customer support gives customers a trust factor that makes them feel appreciated hence making them a loyal customer. Along with that, the customer also believes you are a genuine service provider.

Now if you are small firm and unable to offer 24/7 support then you can try adding FAQ section. Other than that, you can also offer email support - info@merchantstronghold.com 

Many reasons are on here for online payment mistakes, If you want to get the more right information you can contact us directly - +1 (888) 622-6875.