E-commerce is rapidly growing. Most tech companies have been providing a wide array of merchant services to e-commerce businesses worldwide.  Online payment technology plays an important role in the building of e-commerce payment solutions. Most providers today face fierce competition to become the most widely accepted payment service across different sectors. Online payment technology has grown so much that it could be quite confusing when it comes to choosing the right solution for your e-commerce needs. Here are a few guidelines to help you choose to help you decide what is best.   What kind of payment solution are you looking for? If you own a small business and manage everything on your own, you could probably use the service that your e-commerce supports best. However, payment gateways would require setting up a merchant account with the bank. Hence it all depends on the online payment technology solution that you

Hong Kong’s e-commerce market has a huge potential and provides a huge opportunity for merchants. Although most people are still quite content with the traditional methods of payments such as using a credit or a debit card, we see a gradual shift happening. There are many online payment gateways in Hong Kong that are slowly gaining popularity. A lot of multichannel payment methods that are available today. However, more and more merchants are switching to Omnichannel payment solutions to increase their performance. Here are a few factors to keep in mind if you are planning to switch from a multichannel to an Omnichannel payment solution.   Aligning the Back-Office Workflow To align the back-office workflow, one must create a solid CRM system. Another important feature is managing security essentials such as PCI compliance and at the same time delivering personalized shopping experiences that will help optimize business.   Understanding Your

Setting up a business can be quite confusing especially when it comes to implementing a payment system. It is especially important to choose the right partner to ensure the smooth functioning of the system which is cost-effective and one that ensures a good conversion. Before getting into the technical side, let us first see what exactly a payment service provider is. A payment service provider (PSP) acts as an alternative between the consumers and the suppliers and helps simplify transactions, while at the same helps connect merchants and various financial institutions, consumers and card brand networks. There are various methods of online payment services that can be used. The service providers are very flexible and a great alternative to the traditional merchant accounts. It allows you to explore various options and at the same time gives you the freedom to change your service whenever necessary. To choose the right kind

E-payment technology is slowly catching up and most people these days prefer to do their transactions online rather than use traditional methods such as cash, cheque, or cards. It is very important to choose the right service providers for your business. Here are a few things to keep in mind before you choose your online payment service provider. Payment Security One of the most important aspects of choosing the right online payment service provider is security. Choose a processor that uses the latest technology to safeguard your customers’ payments. Make use of technologies such as point to point encryption, fraud management tools, and other technologies to secure payments. Also, there are various methods that you can use to check if a service provider is safe or not. Make sure that the service provider has all the necessary permits by the central bank or the local financial regulator and those they

Choosing the right e-payment technology for your merchant website could be a daunting task. However, if you understand the process of online transactions, it may not appear that complex. Read on to figure out certain key terms that come in when you set up an online payment option for your website.   Merchant Bank / Acquiring Bank / Acquirer  The financial institution that enables the merchant to process debit and credit card transactions is acquiring bank. The bank card transactions are authorised by them to pass it to the issuing bank. The acquirers take the risk liability and settle the transactions.   Issuer / Issuing Bank  Issuer is a member of the card scheme and issues credit cards and debit cards to consumers. They provide banking services to customers and allow individuals to initiate purchases using their payment cards. They act as a middle man between the card schemes like

Payment gateways are an essential component of eCommerce websites, without that payment transactions will not happen. Read on to find more about types of online payment gateways and its advantages and disadvantages.   Payment Gateways: A Brief The payment gateway is a software application that acts as a conduit between an eCommerce website and the issuing bank that authorises or denies payment transactions. Without a payment gateway, you cannot process the payment further to receive the money. Transactions on online platforms are done as card not present situation, and the merchant will have to rely on the data provided by the customer. The payment gateways offer security via encryption, authorisation request and fulfilment of the transaction. The eCommerce service providers offer three different ways to integrate a payment gateway to your website.   Redirects: A Convenient Choice  The redirect method is an easy and quick solution to integrate a payment

There is nothing like a secure, quick and easy payment solution that can take place any time anywhere. Online payment service providers offer their services to aid the merchants to run the transactions on their websites. Here are a few considerations on how to choose the right service for you.   Know Your Customers and their Requirements  Customers are making more and more online payments in these days, and they have a variety of options. You need to offer multiple billing and payment methods to keep your customer experience at par with your expectations. It can reduce the time taken for a transaction if you have a number of convenient options to offer.   Preferences by Customers: Decide the Method  The shopping carts go abandoned if you don’t give attention to the customers’ experience. You need to choose from different methods available for eCommerce payment gateways. In the redirect method,

More and more people prefer to shop from the comfort of their home in these days, instead of visiting a physical store to buy services or things. This is quite a natural characteristic of modern life. Online shopping allows customers to purchase anything without the limitations of stock availability in a brick and motor store. This is a golden opportunity for merchants to increase their sales and reach of their products and services. To make it possible smoothly and safely, you need to consider payment gateway integration.   What is a Payment Gateway?  Payment gateway providers facilitate payment authorisation. It is software application that connects your website to the bank so that the customers can pay you right there without any hassle. The service can be used by eCommerce websites, other service providers whose customers pay online, any organisation that collects money online or even physical store that accepts payment

Smartphones have indeed turned into wallets these days. The number of people who possess a smartphone is on the rise, and useful applications make it a necessity more than a luxury. For a customer, it is an easy process to pay using their mobile phones as they tend to carry it all the time. Businesses, who eye on the global market, should rise to the trend and update their payment processes to survive and expand. Please read on to know more about mobile payment gateways.   What is a Payment Gateway?  Online payment is an essential feature of every eCommerce platform, and you can provide this service by the integration of a payment gateway. It is a technology used to integrate payment transactions to mobile applications or websites. It collects the customer information at the user-end of the application in a secure way and then sends it to the acquiring

Online payments have become the norm these days, and for the world, it looks like a simple process. But when you look for an eCommerce solution provider for your business, you realise that there are many terms, probably you have never heard of. Read on to become familiar with some important terms you should know when you deal with online payment platforms.   Acquiring Bank The financial institution that underwrites and processes debit or credit card payments on behalf of your online business is known as acquiring bank or an acquirer. The acquirers are a part of an association such as Master Card or Visa and allow you, the merchant, to accept the card payments from card-issuing banks within the association. They either approve or decline a transaction based on the information available on the cardholder with card association and issuing bank. The transactions can include purchases, refunds, chargebacks, etc.

Online business and payments are considered to be norms of the day. However, you need in-depth knowledge to select appropriate online payment platforms for your business. A major initial consideration would be on how to choose the type of payment gateway, hosted payment page, or API. Read on to understand more about both of these options.   Hosted Payment Page: What Is It?  In a hosted payment page, the eCommerce payment gateway will provide a unique link to a webpage hosted elsewhere to accept payments from the customer. The merchant or business can link to this page from their website. The hosted page is located in the servers of your payment solution provider securely. The only requirement would be compliance of your website to the hosted page.   Process of Hosted Payment Page As your customer in your eCommerce websites decides to make the final transactions, the payment gateways will

People around the world are increasingly comfortable with online shopping and payment. Payment gateways are equivalent to the point-of-sale machines in your brick and motor stores and act as an intermediary between your website and the customers to complete the financial transactions. These online payment services come with various features that equip you to conduct operations in your online business. Read on to understand some of these features that is offered by online payment service providers.   Support Multiple Payment Methods  You will want to make the payment process easy and smooth to avoid abandoned shopping carts. The primary reason for missed sales is the unavailability of the customers’ preferred or trusted payment methods. The payment gateway you choose should support various payment methods like Visa, Mastercard, China Union Pay, Alipay, Cryptocurrency, etc. This way, you can cater to the users’ diverse requirements.   Hosted Payment Page vs. Direct API 

If you are an ecommerce solution provider, it is imperative that your site is mobile friendly. That means that customers should find it easy to make a payment using mobile. Customers usually tend to be much less engaged when using a mobile, as compared to a desktop. Usually, customers are doing other things like watching TV, commuting, waiting in the queue, and so on, while doing mobile shopping. As such, it is important to make the purchase and checkout process simple. Here, we show you some ways in which you can accomplish this.   Offer Multiple Traditional as well as Third-Party Payment Options Your store should provide mobile wallet payment options. At the same time, customers may want to pay using online third-party e-payment technology such as Neteller, Skrill or PayPal. You can offer these options to your customer’s right on the order confirmation page. As an alternative, your customers

Mobile payments refer to the ability to finish a transaction on a mobile or smartphone. If you are an ecommerce solution provider, then you already know that this technology is taking the retail industry by storm. Mobile payments are ushering a new era of various transactions that are disruptive the traditional landscape of payments. As customers are increasingly moving to mobile, it is important that you as a retailer understand the consequences of mobile payments, and how you can prepare for this big change.   Businesses to Better Serve Customers Consumers have been adopting mobiles and smartphones at a rapid pace. This presents businesses with a massive opportunity to serve customers better. While credit cards emerged decades ago, mobiles are still a relatively new phenomenon. Credit and debit cards reduced a lot of the worry associated with payments, by eliminating the need for customers to carry cash with them. Through

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