E-commerce generates higher and higher profits every year. This might be one of the reasons why it is not surprising that more and more companies position themselves online, or at least implement a multi-channel strategy. For the online business to flourish, it is crucial to take some success factors into account. The new generation of online customers is more selective, whilst their attention span is lower than it’s ever been. If a website does not perform well or involves a longer loading time, users won’t sympathize.
Additionally, offering secure and seamless payment options is essential. Partnering with top online payment service providers ensures smooth transactions, builds customer trust, and reduces cart abandonment rates.
If you, as a web shop owner, do not provide the right online payment systems, you’ll have to pay dearly for that mistake. To ensure a seamless checkout experience, it is essential to work with top online payment service providers that offer secure, fast, and user-friendly transactions. So, which payment methods should you include? Find out more about them in the following blog article!
Top Online Payment Service Providers
Payrexx & PayPal
If you want to avoid or at least reduce shopping cart abandonment, you should provide your customers with at least the most popular payment methods in your online shop. Classic methods include purchase on account, direct payments or cash on delivery, credit cards, advance payments, as well as installment purchases.
On average, around seven different payment methods are available in online shops, promoting the likelihood of a successful sale. Yet, not only the availability of as many payment methods as possible is a decisive factor – the payment systems should also meet the customers’ needs. Working with top online payment service providers ensures secure transactions, seamless integration, and compliance with data protection regulations. One of the latter is data protection, which is why purchase on account enjoys great popularity.
It does not require the disclosure of sensitive data, whilst the seller bears the whole transaction risk. It is precisely for this reason that several online shops replace this payment method with other solutions that harbor fewer risks. These include advanced payments, as well as Payrexx and PayPal.
Payment Method Online: Payrexx
An important digital payment provider for everyday internet purchases is Payrexx. However, it is not a direct solution for private households. Instead, it is aimed at communities, educational institutes, and companies in different sectors. In order to use Payrexx, companies can register for free, specify their sales web page, and choose a payment provider.
After creating and completing a form, they can link their sales page to their website or send the sales page via e-mail. The fees are definitely a remarkable advantage: Payrexx’ fees are among the lowest, as well as those that the payment provider Stripe requires – another external provider that we are going to take a closer look at in our next blog article.
Payrexx is a solid all-in-one solution since it is not only a conventional payment provider but also a so-called payment facilitator. As one of the top online payment service providers, it offers a plug-in for a large number of different online shops – including WooCommerce, Shopware, Magento, and many more. Payrexx also creates digital invoices, payment links, or one-page stores. The latter are landing pages introducing one or a few products that include an online checkout area. With these features, you can market your products and services while enabling customers to purchase them on the same page. Payrexx allows any company to sell their products, services, vouchers, tickets, and even memberships!
Payment Methods Online: PayPal
PayPal is one of the most popular and well-known payment systems in the e-commerce business. PayPal belongs to the internet company eBay and is making massive waves. In fact, it enables fast and safe payments – without having to enter sensitive data or share them with the online shop owner. Instead, PayPal acts as an intermediary that takes care of the whole buying process.
To use the service, customers have to register and create a PayPal account that contains important bank and card data. Both parties benefit from this procedure. Clients can’t cancel a payment as easily – whilst sellers can’t access the clients’ bank data. For private customers, the service is free, whilst sellers pay from 1.2% of the transaction value and a one-time fee.
Those fees for sellers can vary; private persons only have to pay them when the transaction is an international one. The payment process itself is quite simple and can be completed in just a few seconds. Only one click on the PayPal button is required to initiate the payment and access one’s own PayPal account. Once customers agree to pay, the purchase is completed. Bottom line: PayPal is a must that every e-commerce business should offer!
By expanding your checkout area with these top online payment service providers, you can reduce shopping cart abandonment. The top priority is to enable an easy and fast purchase whilst protecting the customers’ data. PayPal, as well as Payrexx, fulfills these standards. The same goes for Stripe and the Swiss company Twint, which we will introduce in our next blog article.
Find out more about PayPal’s advantages:
Payment Methods For Your Online Shop – Integrated With Dinnova
The safest online payment method for customers is definitely the purchase on account. However, many sellers no longer provide this solution, as it comes with significant disadvantages – including the risk of payment delays or defaults. Nowadays, top online payment service providers offer solutions that not only protect the customer but also safeguard the seller. It is essential to integrate only those online payment systems that ensure maximum security and convenience during the buying process.
Whether it is Payrexx, PayPal, Twint, or any other provider – Dinnova would love to advise you and help you choose and implement systems that are both trustworthy and efficient. Do you also need support in creating your website and online shop? Our programmers and designers are happy to help. We develop complete online strategies, individual applications, and software solutions that drive your company’s success. Delivering high-quality digital products that meet the highest demands is our expertise.
Feel free to reach out – our service team looks forward to hearing from you, and we are excited about the opportunity to collaborate with you in the near future
