How to add a payment option to my website in detail?
E-commerce has caused a transformation not just in marketing, but also in sales processes and business models. The increasing popularity of online stores testifies the very fact that this trend is here to remain.
And businesses that upgrade themselves and offer online payment options to their customers are going to be ready to grow and expand. If you're getting to found out an internet site, then choose one designed with payment method and security measures integrated.
However, if you have already got an internet site, then you'll add a payment method on the website. But first, allow us to see various sorts of payment methods you'll integrate into your website.
Types of Online Payment Methods
The different sorts of payment options that you simply can integrate into your website are:
- Credit cards
- Debit Cards
- Bank Transfers
- E-Wallets
- Mobile payments
- PayPal
- Cash on Delivery
However, if your audience consists mostly of earning members and professionals, payment options like card payments or bank transfers are going to be preferable.
What are the advantages of integrating payment methods on a website?
This method allows customers to buy comfortably anytime and anywhere. Also, a smooth online transaction improves user experience and encourages them to stay returning to your website. Moreover, fixing a payment method on an internet site is straightforward and straightforward.
You can found out the payment method with zero installation fees. The transaction fee fixing and using online payment services is economical. So, you get good value for your money.
Having online invoice generating software and quickly managing the refund enhance your website’s popularity and successively your profit margins. the web payment method also can be customized to simply accept regular subscriptions. the simplest part is that online payment support helps you create the foremost of impulse purchases.
Documents required for Adding Payment Method on Website
- Certificate of company registration or incorporation
- Articles of Association and Memorandum of Association
- In the case of LLP, partnership deed
- PAN card of the corporate
- Bank account details
Apart from the documents listed above, certain payment gateway service providers may invite other relevant documents and certificates.
How to Add Payment Method on Website?
1. Checkout the payment gateway services offered by your web host provider.
The first step you would like to try to do before integrating a payment method on your website is to gauge the type of payment support your web host offers. you'll find this detail within the instrument panel or admin panel of the online host.
Many hosting providers offer payment services integration as a neighborhood of their service pack, while others charge you separately for it.
Next, the top web hosts for providing payment services are Bluehost, A2 Hosting, InMotion Hosting, GoDaddy, Wix, Squarespace, and FatCow.
2. Choose a Payment Gateway
There are two sorts of payment gateways – hosted and non-hosted payment gateways. A hosted gateway takes your customer faraway from your website to a different secure site to urge the payment then redirect the user back to your website.
A non-hosted payment gateway, on the opposite hand, has APIs and modules which will be integrated into your website. The payment transaction happens on your website itself.
However, as customer bank, card, and other personal information are going to be stored on your website, you would like to make sure that it's 100% secure and safe from cyber threats and hacks. Also, non-hosting gateways are costlier than hosted gateways.
- PayPal
- Amazon Pay
- Stripe
- SagePay
Non-hosted Payment Gateways
- Authorize.net
- SagePay Direct Integration
- MangoPay
3. Evaluate and compare the details of setup, transaction, and other fees details
Whether you select to travel for hosted or non-hosted payment gateways, you would like to match the fees they charge for the services. aside from the setup and integration fee, you'll need to buy every transaction, even refunds.
Also, there might be subscriptions, renewals, and special fees for security measures. Once you’ve explored the features, the services, and therefore the pricing, choose one that most accurately fits your business model.
4. Add Payment Methods
You can integrate the payment gateway to your website with the support of the online host provider. This integration option is going to be available within the admin page or instrument panel.
You can choose any of the above payment methods described as per your requirement. Once you add the payment methods, use Test or Sandbox account to see if the payment gateway is functioning fine and therefore the transactions are preceding with no problem.
5. Create a merchant account
After you've got found out the payment gateway, you would like to make a merchant account and link the payment services with it. The merchant account deposits the payment from the customer on to your company’s checking account.
Merchant accounts are backed by FDIC and are available with fraud protection. Also, you'll control the transaction of payment between your website and therefore the merchant account. However, you would like to seem out for hidden fees and price acquired for approving debit and mastercard payments.
Please list out your comments below
No comments:
Post a Comment