Home/Blogs, eCommerce, Events, Fraud, Online Payments, POS/A guide to enabling fast and secure payments

A guide to enabling fast and secure payments

enabling fast and secure payments for your events

You’ve taken the first steps, you’ve built the perfect website, attracted a following, and you’re ready to start selling. But how do you accept payments? And how do you choose the right payment processor to keep things ticking smoothly?

It’s a critical decision that can make or break how much money you take home at the end of the day. If you’d like to understand more about what options are available and what’s a good fit for your business, this article will certainly be of interest.

Generally, you can accept payments for your sales in three ways:

Do it yourself using a merchant account that will allow you to take card payments

Connect your system directly with a payment processor that manages the payment process for you, end-to-end

Take payments offline

What to look for when researching a payment solution

Choosing a credit card processor, paying the right rate, and integrating a payment processor into your forms can seem overwhelming.

Integrated payments icon

The first thing to look for is easy integration with your existing systems. Look for a payment processor or service that can integrate easily with your website and your existing infrastructure. In other words, registrants should be able to pay within the registration process rather than having to go to a third-party site to make a payment, which may decrease trust.

Secondly, a payment system should be easy to use. Your payment form should be clear and easy to fill in, requesting only the registrants’ contact information and payment information. Making the process quick and seamless means fewer abandonment rates, more payments on time, and happier clients

Thirdly, you need to consider the rates for online payment processing. Using a credit card processor has its advantages, the most important being 24/7 availability, but it’s considered a remote payment option and bears more risk, thus being charged higher rates. Several payment options may be available with online payment processors, such as a monthly administration fee, processing fees on top of transactions, a flat application fee plus, or just processing fees at a higher rate. Consider your transaction volume before you opt for the right one for your business.

Last but not least, security should be a top priority. Payment processors that encrypt the data users send to the receiver allow you to protect your registrant’s information. Consider a payment processor that is PCI DSS compliant, encrypts its data, and regularly scans its database & servers.

Payment methods you can accept with a payment processor

Payment processors can be of great help in unifying your approach and streamlining check-out experiences. A payment processor like TRU Connect is your most direct route to secure online digital payment acceptance through any device or channel.

The payment methods you can accept using TRU Connect are:

Credit, debit, mobile and alternative payment types like cryptocurrencies, bank transfer or cheque.

Pay by Link – send secure payment links via any channel.

Payments over the phone using a virtual terminal.

Hosted payment pages – these are dedicated payment pages that are deeply customisable to integrate seamlessly with your checkout flow.

APIs for integrated payments directly in your web or mobile UI. These support over 180 currencies and more than 24 region-specific payment methods like AliPay, WeChat Pay, PayU, etc. By offering customers the option to pay in their local currency with Dynamic Currency Conversion, you can also generate new revenue streams.

Digital Wallets like Apple Pay.

What to ask a potential payments partner

You may find these questions helpful when choosing a payment processor:

What is the rate for all major credit cards?

What is the fixed cost per transaction?

How fast are payouts?

Which reporting mechanisms do you offer?

What is the rate for all major credit cards?

What is the amount you process annually?

Asking these questions will give you a clearer picture of market rates for payment processing systems. And now you know what to look for – the key is finding a cost you can live with, and a payment solution that keeps your customers’ data safe.

Stressing the security aspect again, the reality is that failing to integrate a secure payment processor into your registration form will leave more room for errors, lost cheques, and lower loyalty overall.

By |2022-05-19T11:27:05+00:00May 19, 2022|Blogs, eCommerce, Events, Fraud, Online Payments, POS|Comments Off on A guide to enabling fast and secure payments

Share This Story, Choose Your Platform!

About the Author:

Go to Top