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

A smooth online customer experience is often the result of a fast, secure, and easy payment process. Looking ahead, customer growth and retention are likely to be driven by high-quality and professional e-commerce payment gateways. The lifeblood of an e-commerce business is payments; thus, the success of your online store will largely depend on your choice of the right online payment solution.   What is a Payment Gateway? The system and infrastructure that facilitates payments from your e-commerce store are termed an e-commerce payment gateway. It enables merchants to accept and manage payments and mitigate fraud in a secure way and helps to process transactions from a website. In simple terms, it can be thought of as a cash register for your online business.   What is a Merchant Account? One will regularly come across the term ‘merchant accounts’ when looking into SEA online payment solutions. A special type of

Every day, we learn something new. In the corporate world, innovation and adaptation are the keys to being successful. The same is applicable to the world of consumers. Consumers want what is hot, what is trending, and what is easy.   What is the Contactless Payment? Contactless payment is a secure payment method where customers purchase products or services using a debit or credit card or any other device using near field communication (NFC). Mobile app payment and online payment using any of the above-mentioned methods come under the same category. With the advancement in wireless technology and the ever-increasing popularity of smartphones, this technology has become a game-changer. This is because consumers need not carry physical currency any longer as all transactions can be carried out using the consumer’s smartphone.   Why is Contactless Payment Gaining Popularity? The year 2020 has seen the rapid spread of COVID-19. Since the

Choosing an online payment gateway that is best suited for your business requirements can be a very tedious process. You should ensure that the customer experience through the online transaction is smooth, secure, and quick, with the least number of clicks. If the customer experience is positive, it will ensure that customers will come back to purchase other products or services in the future. The top three considerations to make while selecting an online payment gateway in Indonesia are listed below.   Safety Regulations & Security Features Mobile payment gateway providers should have permission from Bank Indonesia to run their service, and in addition to this, they should have a license from PCI DSS with Level 1 as per government directives. Online payment has become part of our daily lives. We are processing online transactions not only through credit cards or debit cards but also through other modes like internet

In the current digital era, businesses are forced to adapt quickly and oftentimes without warning to match the ever-changing consumer expectations and buying habits. In order to succeed, you need the right e-commerce solution provider who can focus on the digital aspects of your business while you focus on the more important areas of your business.   Background and Integration Experience  To shortlist your e-commerce solution partner for online payment solutions in Thailand, the first step would be to verify/research what your potential partner has delivered in the past and to whom. It is imperative to choose a partner who has a proven track record in all areas of e-commerce. It is worth noting whether they have delivered projects across various industries to successful clients and also whether they have experience servicing their clients globally. You would also want to look for a provider that has the skills and expertise in integrating the

John had landed at the airport and boarded his taxi to take him to a meeting. In his rush, he forgot to carry his wallet. But he was comfortable knowing that he could use his e-wallet on his phone to make this particular payment.   What is E-Banking? Electronic banking or e-banking is a method of transferring funds from one account to another using an electronic medium. The different forms of e-banking include, but are not limited to, internet banking, ATMs, telbanking, smart cards, debit cards and mobile payment solutions or mobile banking.   Benefits of E-Banking  Payments made electronically are realised immediately. This saves time for customers and business owners. The cost of transactions for customers is minimal, and in many cases, without any cost involved. Customised statements are always available online, and tracking expenses can be done very quickly. This saves you from the occasional trip to the bank

As a business merchant, it is essential to understand the aspects that help to enhance your business. This includes providing materials and services that are impeccable. For a merchant, keeping up with the quickly changing marketplace includes choosing a trustworthy and reputed online payment gateway. Let us understand why merchants cannot do without one.   A Swift Means of Transaction Having the support of a strong online payment gateway can ensure a hassle-free and instant transaction. Despite the geographical restrictions, customers can easily make payments with just a simple click. The customer and the seller are immediately notified once the transaction is complete. It enhances the scope of merchandise sales and boosts the business.   A Secure Means of Transfer  Merchants have numerous sales per day and online invoice software is far more secure than cheques. Online payment gateways integrated technologies like APIs and Artificial Intelligence protect the owner by