If you are an ecommerce solution provider, you most likely have utilized mobile payments in your store. Here we discuss whether such modes of payments are secure, and how you can set up your store to make the most of the experience.
Are such Mobile Payments Secured?
In a single word, yes, mobile payments are secure. There are many available options such as PCI DDS, SSL, encryption, and others that create a secure environment for mobile payments. Sometimes, these methods can be much safer compared to even traditional card form of payments.
Why Mobile Payments Are Secure?
There are several reasons why an e-payment technology through mobile is secure:
- It is much harder for a hacker to steal the data because in a mobile payment, such data is not transferred to the merchant.
- It is easy for customers to monitor their own account by using the app for mobile wallet.
- There are many third-party gateways such as PayPal, which require the customer to first login and then only authorize the payment.
- Most payment solution provider companies adhere to strict security modes and standards as well as authentication processes.
How to Prepare the Store?
Now that you have a basic overview of mobile payment basics, you can know more about how to optimize your store for making payments.
The very first thing you need to do is to sign up or register for a merchant account as well as a payment gateway. Most of the ecommerce payment gateway options these days are inbuilt into the ecommerce platform.
The merchant account acts as the intermediary account, which is used to hold the funds from the ecommerce sales, before they get transferred into your regular bank account. In general, most of the payment gateways are going to provide you a merchant account, which will allow you to accept many alternative modes of payment.
The ecommerce solution provider payment gateway is basically a digital gateway, which sends the customer details to a processor for payment. This, in turn, contacts the bank in order to authorize this payment, and then deposit it into your account. When selecting any payment gateway, make sure that access is provided to an API, so that it is easy to make customized changes to the storefront.
It is usually easy to add additional payment options into your checkout process.
Some Tips to Keep in Mind
- Accept the popular mobile wallets: Whenever you offer your customers the option to pay you using their mobile wallets, they can easily use the details that they have already saved on their phones. This eliminates the need to continually enter debit or credit card information during the checkout process, thus streamlining the entire process, while providing customers security and peace of mind.
- Simplify the checkout forms: Complex and long-winded checkout forms on mobile are one of the biggest reasons’ customers abandon their checkout process. It is important to keep the checkout form simple because customers usually do not have that much time and are on the go. Some ways to make the form simple is by including only necessary form fields, not making customers sign up for an account in order for them to checkout, use the real-time validation for entries on forms, have only one field for display on every line. Make sure to mark very clearly the mandatory and optional fields on the form. Show advice to correct mistakes within the form field.
- Reduce number of steps for payment: Compared to a desktop computer, customers are less involved when they are using a mobile for payment. It’s usually while doing something else that customers make mobile payments. Therefore, by reducing the number of steps during purchase, you reduce the chances of checkout abandonment.