Are you looking for an online payment gateway in Philippines? Before you begin your search, you need to know how an e-commerce payment or transaction works. This knowledge will help you sift through the numerous payment gateway providers out there and choose the best one for your business.   What is an E-commerce Transaction?  Basically, an e-commerce transaction refers to the movement of money from the customer to your bank account through the payment gateway on your website. According to the Organisation for Economic Co-operation and Development (OECD), an electronic transaction is the sale or purchase of goods or services, whether between businesses, households, individuals, governments, and other private or public organizations, carried out on computer-mediated networks. The services and goods are ordered through these networks, but the final payment and the eventual delivery of the services or goods may be handled online or offline. The entire process can be

What are the main features one should look for while selecting a payment solutions service provider? As you go about setting up your e-commerce business in China, it is critical to choose the right ecommerce payment gateway for your website. We have listed a few important factors that you must consider to make an informed choice and offer the best service to your esteemed customers.   Methods of Integration There are two main methods of integrating a payment gateway into your website, hosted gateway and non-hosted (integrated) gateway. A hassle-free integration method takes a load off your shoulders and helps you set up your business faster.   Pricing and Fees Pricing - Payment processing involves multiple financial institutions or organizations, and every party that participates in the transaction charges a processing fee. Every payment solutions provider has its own fee structure. You should carefully study and understand all the fees

There is no doubt about the fact that mobile app payments are quick, easy and efficient. Merchants and customers benefit as payments are made with just a few clicks on a mobile phone.   Convenience with Mobile Payments The reason for the growing popularity of mobile app payments is its convenience. Customers who want to make mobile app payments only need to have a good quality smartphone. Mobile payments make it easy for them to access products from your store with hardly any waiting time. If they come to a physical store, the checkout is fast, and there is no need for them to carry physical wallets. A payment processing solution that supports popular apps in the market can significantly increase sales in the long run.   Enhanced Security with Payments Apart from being convenience, mobile app payments are also very secure. You can accept payments anytime and anywhere; thus,

Setting up an e-commerce website, especially the technological framework, can be quite a cumbersome process without expert guidance. One of the most important aspects of an e-commerce website is the technology used in the payment gateway, also known as e-payment technology. This technology serves as the backbone of the entire system and helps to process all the payments going through the payment gateway installed on your website. What is an E-payment System? An e-payment system helps you to either pay for goods and services or receive payments electronically. It is also called an electronic, digital, or online payment system. In this system, there is no direct interaction between the buyer and the seller. The e-payment system acts as the gateway connecting the customer and the merchant. This system is handled by a payment gateway provider. Technology Used in E-payments The technology used in an e-commerce transaction includes technologies for communications,

With ecommerce at its peak, setting up a payment gateway is no longer a challenge. Most customers constantly transact online not only through credit and debit cards, but also through other modes such as net banking, and UPI and other payment methods. There are a lot of ecommerce solution providers that are available today that have simplified payments for customers. Here is a guide to help you choose the right platform for your business.   What is a Payment Gateway? A payment gateway is software that acts as a channel between an ecommerce website and a customer’s preferred mode of payment such as a credit card, bank account or any online wallets. It is the simplest way for a business to collect payments online. Having an online payment gateway in Philippines or any other country makes it easier to accept different types of electronic payments. It provides an all-in-one solution

An online payment gateway is required to facilitate the transaction between the merchant and customer and is responsible for authorising the transaction. It is important because an efficient and secure payment gateway keeps your customers happy and transactions safe.   Convenience in Payments Websites are essential for all merchants to capture a global clientele. It has also become necessary during the pandemic when customers hesitate to go out into busy streets and would rather prefer to do their shopping from the comfort of their homes. When you deal with an international clientele, you have to ensure that there is some form of payment that is easy, secure, and convenient. An online payment gateway provider makes it possible to process credit card payments or other forms of online payments for both ecommerce sites and brick and mortar stores.   Encryption for Enhanced Security When you choose an online payment gateway provider,

In recent times, there have been a number of options that have become available for customers to make payments online. By offering multiple payment options, your business can benefit a lot from more customers. As your business expands, it could add extra costs and security issues. A payment service provider can guide you and help you run your business smoothly.   What is a Payment Service Provider?  A payment service provider or merchant service provider is a third-party company that enables your business to accept a wide range of online payments such as credit cards, online banking, e-wallets and more. They make sure that your transactions are safely and securely transferred from the customer’s account to your account.   What are the Advantages of Using a PSP? Accepts Multiple Payment Methods Online payment providers in Vietnam support various methods of payment through a single channel. This allows your customers to

First it was the internet and now it is the mobile app payment that is taking the world by storm. Smart phones are everywhere and with everyone and it is evolving and changing the way business is conducted.   The Convenience Factor Mobile app payment is now the preferred method of payment and is overtaking the traditional payment methods. It is used not only for ecommerce transactions but also for in-store and all digital payments. The main reason for its popularity is the simplicity of use. Transactions are done with a few clicks of the phone. It will also benefit you financially in that you get to use coupons, there are loyalty programs, and other incentives not only for consumers but also for retailers and financial institutions.   The Mobile Phone for Everything So, what exactly is this mobile app payment? A mobile app on your mobile phone is used

As the current shopping trend has become virtual, merchants inevitably need to update and expand their businesses to suit the new requirements. It is essential to understand the services of online payment providers in Vietnam to keep abreast with industry developments. Read on to find out the basic concepts in e-banking and how it can benefit your business.   E-Banking Services The term e-banking or electronic banking refers to online payment solutions that enable a bank or a customer to make financial transactions electronically. It involves non-financial services as well. Once the customer has registered for online banking facilities, the services can be availed without visiting a physical bank. It is a convenient and safe banking method as a unique ID and password secure the bank portals. The system of e-bank payment for SEA countries has evolved significantly in the last two decades. It includes various forms of banking services and transactions performed

Businesses have realised the power of ecommerce as they expand their businesses to achieve success. One component that plays a pivotal role in this industry is payment service providers that offer innovative payment solutions. The Southeast Asia e-banking payment industry provides a range of payment solutions to the merchants to choose from. Read on to find more about e-banking services, mobile banking, and internet banking solutions.   E-Banking Applications The banking sector and the e-commerce industry are intertwined. The industry depends a lot on payment service providers' banking services. E-commerce involves transactions of goods and services on online platforms electronically over the Internet. Unlike traditional businesses, there is no need for the buyer and seller to meet in physical stores. Therefore, it is essential to make financial transactions online. This has led to significant growth in innovative technologies in the Southeast Asia e-banking payment industry, which means many more opportunities for merchants.  

It will be an understatement to say that customers have warmed up to eCommerce and online payment methods. The rapidly-evolving market throws a lot of opportunities to merchants to expand their business. The vast volume of transactions done online has paved the way for diverse online payment methods, which are now accessible to merchants. Too many options, however, could be confusing to even the most experienced eCommerce merchant. It is crucial to understand the basic concept of online payment gateways to succeed in your business.   Online Payment Gateway Payment gateways are vital for eCommerce merchants as they help them accept online financial transactions and manage their cash flow. It works as a middleman between the merchant and the customer. It ensures that the payment is made correctly and securely. It is a technology that captures and validates the customers' card details, ensures the availability of funds, and eventually enables

The last two decades have seen a significant evolution in online payment services; one such system is a virtual account. The benefits include rationalisation of accounts and simplified cash management structures. Here is a guide on virtual accounts (VA) facilitated by payment service providers to merchants. What is a Virtual Account? Virtual accounts, a type of online payment service, are used by customers to optimise their working capital. It provides a single view of your cash and management of liquidity, payment and receivables management, etc. The information collection method is easy as virtual account numbers can be tracked against the payer's credentials provided by the merchant. A VA is created and assigned to your paying customer, whether it is a main distributor or a buyer. When you have at least fifty such payment sources, a virtual account will help you differentiate the payments from each source. The payments made are automatically directed to the master

E-banking or electronic banking is nothing, but banking done on the internet. The number of account holders who opt for e-banking payments in South-East Asia has been on a steady rise owing to a host of reasons. Some of these reasons include the quick transfer of money, immediate invoice transactions, options to make recurring payments automatically at the due time, ease of use, and reduced transactional costs. Transfer Money, However Large the Amount, Instantly Physical payments involve a considerable time gap between placing the order and the transfer of the funds. This time gap can prove to be risky, especially when larger amounts are involved, as there is always a possibility of theft. Moreover, physical payments require customers to walk around with large sums of money, which is not only inconvenient but also increases the risk of theft. Both of these issues are done away with by e-banking payments in South-East Asia.

E-commerce is here to stay and with it, all of its perks, including online payments. Business owners today must ensure that they equip their e-stores with the right payment gateway to ensure maximum efficiency and customer satisfaction. This will go a long way into ensuring the success of the e-commerce business.   Figure Out Where You Want to Collect the Payments Online payment gateways can be designed to collect funds right on the e-store’s website. They can also be designed to redirect users to another website where the collection occurs. The former is the integrated model of online payments, and the latter is the model of redirection. Both these models of online payment gateways are available in the Philippines or in Indonesia and can be availed by business owners there.   Ensure Compliance with the Prescribed Security Standards  The internet can be a scary place. Monetary transactions over the internet can be

Much quicker than expected the number of digital consumers in Southeast Asia is growing exponentially. There is no doubt that the number of digital consumers in this region will reach several million in the future. The number of digital wallet payments facilitated by leading online payment providers in Vietnam and the rest of Southeast Asia is only going to keep rising in the near future. Take a look at some of the advantages you can enjoy with online or e-bank payments in SEA.   Cashless Payments in Southeast Asia When it comes to a digital economy, China has been a clear leader in this regard. Across this populous nation, fin-tech firms have been instrumental in executing cashless payments. However, in recent years, other parts of Southeast Asia have also provided competition to challenge this status quo. It has been noted that commercial bank customers who form a large percentage of