Payment Gateway Estonia for your eCommerce Business

1
(No Transcript)
2
Payment Gateway Estonia is an Integral Part for
your eCommerce Business
Payment Gateway is an essential aspect for an
eCommerce business. If you look at the eCommerce
industry as a whole, you will notice that one
key factor contributing to its success is an
effective, efficient, and reliable payment
gateway system. As a business owner, you may be
perplexed about which payment gateway is best for
your company. We've highlighted the factors you
should think about when selecting the best online
payment gateway solution for your
company. Through the digital medium, the world
has become a global town. Your eCommerce
customers could be located on the other side of
the globe. This means that the payment system
provided by your global payment gateway provider
must support multiple currencies. Additionally,
multiple payments and alternative payment
methods would help boost your customers'
confidence. If your payment gateway's security
architecture is inadequate, no customer or
online eCommerce user will choose your company.
In a world where cyber-attacks are on the rise,
it is critical to check for vulnerabilities in
your payment gateway on a regular basis. Check
that your payment gateway is PCI-DSS compliant.
Card 3D secure authentication is also a must-
have.
3
Online Payment Gateway Estonia Provides ease of
Integration and
Optimization of Transactions
While various payment gateway systems exist, the
ease of integration can help you choose the best
one. When selecting a payment gateway, consider
the platform your eCommerce store is built on.
Platforms have different payment systems that
work for them. To top it all off, the payment
gateway you choose must be simple to integrate,
support express checkout, Direct API integration,
and a variety of other features. Mobile phones
are frequently used by digital platform users to
conduct the majority of online transactions.
Mobile device penetration into the digital world
necessitates that all payment gateways support
mobile phone users. According to some industry
data, over 2 billion mobile and tablet users
conducted eCommerce transactions by the end of
2022. A payment gateway is expected to provide a
seamless shopping experience for mobile
users. Each payment gateway provider has its own
setup and transaction fees, charges, transaction
fees for card maintenance, and other fees that
should be considered before selecting a payment
gateway provider. The most important
consideration is to select a payment gateway
provider such as PayCly that does not charge any
hidden fees. Before signing an agreement with a
payment provider, make sure that all fees are
discussed and disclosed. We provide timely 24x7
supports. Since, we understand that this is
critical for any online platform's success. As a
merchant, you must provide both dedicated
technical and non-technical support.
4
Payment Gateway Estonia is an Integral Part for
your eCommerce Business
The trend toward global eCommerce is growing as
the economy becomes more digital and
interconnected across borders. Merchants are
looking for new ways to gain the trust of their
global audiences, who expect fast, dependable,
and accessible payments. While this process may
appear simple on the surface, optimizing cross-
border transactions requires a significant amount
of effort. This includes adding local payment
methods, a robust fraud solution, integrating
with multiple acquirers, and allocating time for
time-consuming reconciliation. These points will
be elaborated on further below
Including local payment methods is critical for
success
It is critical to research the country's local
and most commonly used payment methods. According
to one study, approximately 50 of regular
online shoppers abandon their shopping carts if
their preferred payment method is not available.
Neglecting local preferences may result in lost
sales. Local payment methods, clearly, can make
or break an international venture. The difficulty
is that many payment companies do not offer these
methods, and adding them could take several
months. This process can perplex merchants'
expansion plans and cause frustration if the
only thing holding them back is a lack of a local
payment method.
5
Online fraud is becoming more prevalent.
Another payment challenge that businesses should
consider when entering a new market is online
fraud. According to Juniper Research, global
online payment fraud will cost eCommerce
merchants 17 billion by 2020. Furthermore,
European Consumer Centers have reported that
digital payment fraud is extremely common in
cross-border eCommerce, owing to the fact that
payment processes are more fragmented and thus
more vulnerable. Because international trade
involves different market profiles in terms of
customer shopping behavior, consumer protection
policies, and alternative payment methods,
existing fraud prevention tools may be
insufficient in detecting new fraud patterns. As
a result, merchants should treat fraud as a
high-priority issue and upgrade their fraud
detection to be specifically tailored for
cross-border eCommerce. This could be
accomplished by collaborating with a payments
partner who provides a fraud solution based on
machine learning capable of detecting new fraud
patterns.
A multi-acquirer setup necessitates integration
expertise.
Merchants must integrate multiple acquirers when
operating in multiple online markets. Each
acquirer has its own set of terms and
regulations, making the process lengthy and
unpredictable. Once again, this could hamper
merchants' ability to expand quickly and have an
impact on their business planning. As a result,
it is critical for their payment provider to be
alert and provide a platform that allows for
quick integrations with new acquirers and no
unexpected delays.
6
Automated reconciliation results in lower risk
and cost.
Post-expansion, the reconciliation process of
cross-border payments may also present
challenges. When done manually, this process can
be a nightmare with different acquiring banks,
complex accounting systems, and multiple file
formats. This is where automated reconciliation
comes in, allowing merchants to more effectively
manage settlement, reconciliation, and fees
while also identifying errors and mismatches. As
a result, the costs and time spent reconciling
cross-border transactions can be significantly
reduced. Merchants should not underestimate the
payment challenges that may arise from
cross-border transactions when expanding into the
global market. However, global eCommerce
provides a variety of opportunities, and with
the right partner, online merchants can avoid
potential pitfalls. That is why PayCly provides
Online Payment Gateway Solutions with
multi-acquirer support, automated reconciliation,
and machine learning-based fraud prevention, all
while supporting digital wallets. Basically, we
have everything a merchant might need to make
this process go as smoothly as possible!
7
Contact Us Now For Payment Gateway
Solutions
7 Temasek Boulevard, 12-07 Suntec
Tower 1, Singapore, 038987 info_at_paycly.com
https//paycly.com
8
(No Transcript)