Payment gateway serves as an e-commerce service provider that authorises and processes online transactions either by way of credit cards or direct payments to online businesses, e-businesses, even traditional businesses that have online presence. (1) It is equivalent to a virtual Point-On-Sales (POS) that you see when you pay using credit card at the cashier in a retail store.
Simply put the payment gateway act as a channel to collect and process online payments from customers to the merchants. Hence, if you are running business online, it is mandatory to have a payment gateway for online transactions.
Here are some of the reason why we need it:
Collect Online Payment
For obvious reason, payment gateway is needed to process and collect online payments. It gives convenience to the customers to shop at any time they please. Opening up more trading hours that boost sales.
Tidying Up Loose Ends
Sometimes transactions may get rejected due to network connectivity or refunds happens, payment gateway helps to tidy all the transactions before passing the money to the merchant. They will get the cash collected in an agreed timeframe from the chosen service provider. For example, at kipleBiz we offer fast cash settlements of T+2 or less to ensure they have continuous cashflow.
Reduced Credit Card Fraud
Unfortunately, both customers and merchants can fall as prey to the rampant online frauds in the online world. A payment gateway that is in compliance with Payment Card Industry Data Security Standard (PCI DSS) such as kipleBiz acts as a mediator, between customers and merchant. Mitigating the risks on online frauds for both parties.
Keep the Customers Away from Competitors
Complicated payment page often causes customers to drop their shopping cart and leave. kipleBiz designs the payment page as easy as a click and pay. Spoiling the customers with a complete online shopping experience.
Some additional perks why kipleBiz is the payment gateway to go to:
Emphasise on Merchant’s Branding
Payment page is a part of payment gateway, where the customers perform the online transaction. It is a great branding opportunity to enhance brand presence. At kipleBiz, the merchants get to brand their businesses on our payment page because we believe in growing the business together.
Time is money. Ensuring smooth operations, kipleBiz payment gateway solutions is easily integrated to the e-commerce websites with minimal downtime. Merchants can continue on with business as usual quite immediately.
E-invoicing and Recurrence Payment
Paperwork can be tiresome. With that in mind, merchants no longer need to prepare invoices themselves. kipleBiz takes care of the e-invoicing and all the recurrence invoices. This way merchant can focus on growing their business.
All Rounded Support Team
Dedicated team is on standby to support our merchants with their concerns. So that they don’t get hiccups in their operations. We see ourselves as business partners to our merchants. Seeing their business grow is our mission. Hence, we setup a network of experts to advise our merchants in other areas such as digital marketing or banking.
Payment gateway is a need to any online businesses. In summary, here are the reason we need it:
- Authorise and collect online payments
- Organised those payments to ensure
- Mitigating risk on online frauds
- Simple payment procedure to boost online shopping experiences
Bonus goodies if kipleBiz was the chosen payment gateway provider:
- Branding opportunity
- Easy integration
- Automate recurrence e-invoices and e-invoicing
- All round support team that ensure merchants on the path to success
While there are plethora of payment gateway solutions out there, we have also helped narrow down the 5 tips on how to choose your payment gateway provider.
Drop us a message on our livechat and speak with one of our experts today to learn about our payment gateway! Hope to speak to you soon.