03/20/2023

Posted By: Tripti Rijhwani

In today's digital age, e-commerce has revolutionized the way people shop. From clothing to electronics to groceries, consumers can purchase virtually anything online. An important part of e-commerce is the payment options a brand offers to customers. Payment platforms are designed to be secure, convenient, and easy to use, and brands should make sure they offer a range of payment methods that suit their customers' needs.

When choosing a payment processor (PSP), it is essential to consider several factors:

1. PCI compliant to ensure the security of brand and customer data.
2. Use tokenization to protect sensitive payment information.
3. Accept the payment methods that customers prefer.
4. Understand the fees associated with the payment processor, including transaction fees, monthly fees, and additional fees for chargebacks, disputes, and international payments.

There are numerous vendors in the payment processing ecosystem. Brands must understand their buyer personas and match the proper payment solutions to their style and purchase traits. Here are some leading processors who can support many methods of payment.

PayPal
PayPal is a robust platform that makes it simple for businesses to accept credit and debit cards and offer PayPal payments and flexible buy now, pay later options such as Pay in 4 and PayPal Credit. PayPal also enables customers to purchase through social media platforms including Facebook, Pinterest, and Instagram.

Stripe
Stripe provides quick, secure, and convenient payment acceptance options while collaborating with Google Pay, Apple Pay, and Masterpass to give customers more payment choices. Stripe is PCI-compliant and accepts international transactions from customers worldwide, from Germany to Japan. Square is an all-in-one platform that allows businesses to sell online and in person with seamless two-way inventory sync. It also provides various tools to help companies to grow, including employee management, customer engagement, online invoicing, and time management.

BlueSnap
BlueSnap is a single, global platform that accepts payments from any location and device, with multi-currency support for over 100 currencies and 16 payout currencies in a single account. BlueSnap also offers world-class security, detailed analytics, and reporting and accepts major and regional credit cards like China Union Pay.

Amazon Pay
Amazon Pay streamlines checkout for millions of Amazon customers by allowing them to use payment and shipping information stored in their Amazon accounts. Amazon Pay merchants have reported increased conversion rates, reduced cart abandonment, and faster checkouts. Amazon Pay also includes fraud detection technology and offers Amazon's A-to-Z Guarantee on eligible orders. Plus, mobile checkout is a breeze.

Klarna
Klarna offers businesses no-liability financing options at checkout with built-in fraud protection. Klarna also provides buy now pay later solutions. Klarna checkout is available through many e-commerce platforms and can be integrated directly to a site. The service is integrated in such a way that Klarna can make automatic updates to provide security and simple maintenance.

Sezzle
Sezzle's mission is to empower the next generation financially, and it offers a convenient and easy-to-manage payment option for customers. Shoppers can split orders into four interest-free payments over six weeks in over 44,000 online stores without impacting their credit score and free payment rescheduling.

In summary, brands have many options for payment processing solutions that are feature-rich, secure, and built by solid vendors. By selecting a solution with their customer in mind, businesses can offer them a wide range of secure and convenient payment options that can help drive sales and increase customer satisfaction.

Dreaming Code helps support its customers with products, consulting, and strategies to enable your digital business to grow. We are committed to providing a robust platform and consulting support to help you realize your online goals. If you need support on payments, DreamingCode can help you find the right solution to enable the secure collection of payments from customers. If you want to learn more about payments and solutions to power your online store, please schedule an appointment today!

To learn more about the Dreaming code eCommerce platform visit: http://dreamingcode.com.