An e-commerce store launch can be profitable and thrilling. Your ability to interact with customers outside of your immediate vicinity can help you grow the market for your goods and increase revenue.
However, as you prepare to open your online store, picking a payment processing option is crucial to satisfy you and your customers. A payment processing platform is important to the checkout process for customers, and having a reputable payment processor can also increase clients’ trust in your company.
The forms of payments you’re allowed to accept can enable you to sell to the broadest audience feasible and decrease shopping cart abandonment. Additionally, it’s critical to pick a trustworthy payment processor with low rates so that it doesn’t reduce your revenues.
Payment Processing Platforms
The good news is that your e-commerce business will have access to a wide range of payment processing options. We’ve highlighted some of the top choices and the crucial details you need to know to decide which is ideal for your company.
Exact Pay
ExactPay is a leading payment processing solution that offers a range of cutting-edge services to streamline your financial transactions. With its user-friendly platform and robust security measures, ExactPay is the perfect solution for businesses of all sizes looking to manage their payments with ease.
One of the key advantages of using ExactPay is its fast and secure payment processing. The platform offers a range of payment options, including credit and debit cards, e-wallets, and bank transfers, ensuring that your customers can pay for your products or services in the way that suits them best.
Paypal
One of the most popular and well-known payment processors is PayPal. PayPal allows customers to save the details of their credit and debit cards in their accounts, acting as a digital wallet. Instead of entering credit card details for every purchase, customers who purchase from an online store that takes PayPal only need to log into their account and approve the transaction.
Most major credit cards are accepted via PayPal, and you can accept payments in over 100 different currencies. You may make estimates and invoices using the platform. You can also sell subscriptions and set up regular payments.
Square
You may accept card payments online and in person with Square. You can use Square to create an online store or integrate it into an existing one. A Square account may be created and verified in a matter of minutes, and you can use the account right away. You can instantly access your money with Square Checking or move it to an outside bank account.
Additionally, Square provides simple-to-grasp pricing that is clear. The processing cost for transactions made through an online retailer is 2.9 percent plus $0.30. Purchases made in person incur somewhat lower costs.
Clover
Clover provides a point of sale (POS)-based system ideal for physical stores conducting online business. You can use the Clover platform to create or integrate a new website with an existing one.
For improved accuracy and simpler order processing, Clover makes it simple to keep your orders, inventory, and customer data synchronized across all of your channels. You may access Clover’s online dashboard via a mobile app or online, so you never have to be without the data you require.
You may accept contactless integrated payments, gift cards, debit and credit cards, and more with Clover. The tax rates you’ve established can be applied automatically, and Clover provides up to $100,000 in fraud insurance. Because the phone-based support crew is available 24 hours a day, setting up Clover is simple.
Unlike other payment processors, Clover charges a monthly software subscription in addition to the per-transaction processing prices. The POS system is covered by that software charge, which is waived for the first 30 days.