Online payment is a means of payment that has developed strongly in recent years with the growing importance of e-commerce in our consumption habits. However, what are the advantages of E-payment? Why pay online instead of shopping in stores? With Selling Merchant Services the options can be perfect.
What Is Online Payment?
The online payment is a general term used to describe all types of payment made online, i.e. on the internet, and which the property concerned by the purchase is then sent or transferred to the buyer. Online payment is one of the features that allow the existence of E-commerce themselves, and that is why it has become more and more common in our daily life as consumers! The number of online shoppers has also grown exponentially in recent years to finally reach 32.610 million at the end of the first quarter of 2020.
The people also spent 12.2 billion dollars on E-commerce between April and June 2020, an increase of 16% over one year, moreover the number of transactions on the Internet increased by 20% compared to in the same period of 2019.
Online payment is therefore a consumer channel whose importance, popularity and practicality have continued to improve for several years! But why choose such a means of payment, which seemed totally exotic a few years ago? What are the main advantages of online payment?
The Advantages of Online Payment
Payment in Installments:
The great added value, specific to online payment, is payment in installments. For example, making a payment in 3 installments can turn a simple Internet visit into an online sale! The payment in installments is a real axis conversion to use to improve the performance of your e-commerce! To finish the payment in several installments brings to the cyber buyers more freedom of consumption, by offering them for example the possibility of succumbing to a compulsive purchase without getting into debt, while serving the objectives of the E-merchant!
The Rapidity:
Online payment also allows you to quickly pay for purchases! No need to wait for a check or cash to reach the seller: the transaction is completed in a few minutes, and the desired product is shipped faster! The customer and the E-merchant thus benefit from a quality, fast and efficient transaction for successful sales and purchases!
Security:
Security is a sensitive issue when it comes to online transactions, and in the early days of internet shopping, many critics doubted the security offered by internet shopping! However, nowadays many devices are put in place to secure and improve the user experience on online transaction channels. The 3XWEB solution, for example, offers simple, fast and fully secure payment for Internet users, which can be completed by a transaction validation procedure using a code sent to the cyber buyer’s phone.
What Is The Reiteration Of The Sales Agreement?
The compromise must be “reiterated”, that is to say written in a particular form, the authentic form received by a notary. This is a legal obligation when it comes to the sale of real estate. The notary brings together the parties on a fixed date for the reading and signing of the deed. The sale is then definitively concluded.
And, considering how to start a merchant processing company, a methodical approach is crucial. Start by researching your target market thoroughly, understanding customer needs, and assessing competitors. Develop a robust business plan, secure financing and the required licenses. Cultivate industry connections and embrace innovative technology to thrive in this competitive field.
