In this article, we explain how to integrate credit card processing into a website. We’ll go through the various payment methods and the benefits of integrating them into your website. We’ll also cover some notable options that you DO NOT need to have on your company’s website.
The increasing popularity of online shops proves that digital purchases will continue to grow. E-commerce has brought about a fundamental change not only in the marketing and sales process but also in the business model.
Mobile payments are becoming more common and the use of debit and credit cards for online shopping is already the most popular way for people to pay for products and services.
Companies that are upgrading to offer their customers online payment options can grow and expand much faster and expand their user base geographically. Those that react slowly, and are late to adopt online payment will very likely get left behind.
What are payment gateways and how to choose the right one
Payment gateways allow online merchants to accept payments through integration between their website’s e-commerce systems and credit card companies. Merchants use payment portals to accept electronic payments and process credit and debit cards.
When a customer wants to make a payment on your website the payment gateway directs them to complete the payment on their platform off-site and redirects the customer back as soon as the process is complete.
In more technical terms, Payment Gateways allow you to accept card payments in your website by processing credit card payments at the point of sale (PoS) by seamlessly integrating their advance payment processing on your web page. The host of the payment gateway takes over the transaction itself from your website via a payment platform or a processor.
Payment gateways offer greater control over security, rules, and customization. These are highly recommended in order to achieve an easy-to-use e-commerce store since they eliminate much of the complexity of accepting payments.
The gateway you choose is important considering that 75% of retail customers give up their shopping basket during the purchase process. Which gives these systems a major influence on your bottom line.
Choosing the right payment portal can be determined by the currency you accept, the transaction fees, how quickly money enters your merchant account, and the payment method you offer.
Offering different payment options to your customers is an excellent way to keep them happy. Before we get into the details of the integration of payment gateways, let us see which types of payment transactions exist and, depending on your company, whether you want to select a specific one for your e-commerce website or your e-commerce portal.
Ecommerce online payment options
If you’re in the services industry and looking for an easy way for customers to pay their bills online, you don’t need a fancy full-service merchant account or custom payment portal for your business. Instead, we recommend you use one of the various shelf payment gateway solutions.
These solutions can make it easy to accept card payments such as Visa, Mastercard, American Express, etc.
Shopify is a popular e-commerce platform that makes it easy for small, medium, and big companies to sell products online and accept credit card payments through a platform without the need for an external service provider. If you build your website with Shopify, you get your payment gateway included.
Shopify is a great way for eCommerce companies to accept credit cards because it combines payment processing with e-commerce tools such as drag and drop stores, shipping solutions, and inventory management.
Video: Shopify payment gateway setup tutorial:
PayPal offers the processing of all common credit and debit cards via its gateway and can also make payments by itself using various other methods.
Video: PayPal payment gateway setup tutorial:
Square makes it easier for small businesses to accept payments by offering a few different solutions without a contract.
Video: Square payment gateway setup tutorial:
Data security is a plus if you use Stripe as the backend payment processor for your website. Stripe offers tailor-made plans for Stripe that are tailored to your business needs. Their handling fees start at 2.9 percent (or $0.30 per transaction) for their integrated plan.
If you do not have a website, send a payment link to receive credit card payments via Square Checkout or set up recurring billing using the Square Invoice feature.
Video: Stripe payment gateway setup tutorial:
Payment processing fees
Payment processing fees average 2-3% and vary depending on how payment is routed from your credit card company to your business. You can accept payments in person, via terminals on the website, embedded in the cash register, or recurring invoices. This means that your company processes payments for other merchants for a fee.
While the associated fees can be a minor nuisance, there are costs and benefits to accepting card payments from your customers. There are clear drawbacks to making customers pay with credit, but that doesn’t mean they outweigh the positives.