E-commerce offers fast methods to increase sales and become successful online. Emerging online companies connect to online payment systems to collect money and process payments. As they choose these payment solutions, the businesses must find the safest service to protect their customers and avoid identity theft. Learning what to expect shows e-commerce companies where to get started.
Lowering Checkout Abandonment
Checkout abandonment is frustrating for merchants, but with BlueSnap solutions, the system reminds the shopper about the items in their cart. The reminders and alerts draw customers back to the shopping cart and increase conversion rates. The shopping carts reflect price changes and entice the customer to complete the transaction.
Control Fees for Merchants and Customers
Merchants may fee for payment processing, and these fees accumulate based on the number of payments processed each day. An all-in-one solution cuts down on these fees, and merchants design their payment packages based on what is affordable. Controlling the payment and transaction fees stops these costs from depleting the profits. Companies make more money each day and save on fees as their organization expands and takes on more customers.
Instant Currency Conversions
E-commerce companies expand into international markets and need payment solutions that manage currency conversions. Accuracy is of the utmost importance to businesses and customers. One mistake leads to higher deductions from bank accounts and could short-change either party. All-in-one solutions are programmed to manage a variety of currencies and perform fast calculations.
The online payment integration accommodates all currencies accepted by the merchant. The merchants choose the acceptable currencies when creating their accounts with the service provider. Unaccepted currencies are blocked.
Cut Down on Fraudulent Transactions
Fraudulent transactions are an ongoing problem for merchants, and online payment solutions need features to identify fraud and block the transaction. The payment service must double-check routing and account numbers and compare them to the customer details. Banks kick out transaction attempts if any details do not match the account information.
Better Protection for Consumers
Robust security schemes apply to the online payment systems to protect customers and block vulnerabilities. High-grade encryption and secured socket layers are just the beginning of protecting customers. The administrators must monitor the network and each individual connection to the payment system. The security schemes are tested repeatedly to ensure compliance with IT standards, and changes are made once an exploitation attempt happens.
Using outsourced payment solutions helps companies get extra protection for confidential data and user accounts. In an instant, a user account could get breached, and a criminal steals a customer’s identity. All measures applied to the online payment solution must prevent security breaches. Any e-commerce business hacked by cybercriminals faces federal penalties if the customers incur a financial loss. Consistent security is the only way to protect consumers against these crimes.
Merchant services give e-commerce methods for processing their payments securely and lower the risk of identity theft and serious losses for customers. An online payment integration must meet all expectations of e-commerce companies, and their features must perform as expected. Losing too much in merchant fees? Give this online payment solution a try.