A Guide on How to Achieve Seamless Payment Process for Your E-Commerce Store
Tags: ux, ecommerce
Published: 2021-10-14 09:39:39

You're all set to launch your online store—products have been uploaded, content has been polished, and there are marketing efforts ready to be rolled out. Are you ready to reel in customers to your e-commerce website and get them engaged?

Perhaps among the top e-commerce tips that business owners should follow is to ensure that smooth digital payment processing is made possible for clients. It is one of the [merchant services](https://www.asiapremierbpo.com/merchant-services/) you should invest in to grow your online business significantly. As a global payments company CEO once said, payments should be seen "strategically as another step in the customer's journey."

With online sales projected to grow at over [$4.88 trillion](https://www.digitalcommerce360.com/2018/09/28/a-smooth-payments-process-is-key-to-keeping-shoppers-satisfied/) in 2021, consumers expect smoother digital shopping experiences from e-commerce stores. According to a survey, using credit cards is still the most preferred payment method by online shoppers, followed by online payment channels like PayPal, Apple Pay, or Amazon Pay, with direct debit coming in third.

There's way more to setting up hassle-free checkouts aside from giving your customers multiple payment options. Find out how you can offer a seamless checkout experience that will earn your [e-commerce](https://www.spiralytics.com/blog/e-commerce/) brand major points in the world of business.

#Provide Multiple Payment Methods for Consumers

Here are some payment types to consider for your business. The top options most used by online shoppers include:

1.**Credit Cards** - [Credits cards](https://www.rcbcbankard.com/) have long been a preferred means to pay for goods in-store and online. On e-commerce sites, buyers fill out their account details to complete the process.

2.**Debit** - Like in credit cards, customers also input their bank information when paying with debit. This is similar to paying with a check, where the amount is deducted from the available balance.

3.**Alternative Frictionless Payments** - This includes digital and mobile wallets, auto-renewing subscriptions, device-initiated payments, in-app payments, buy-now-pay-later solutions, one-click payments, and others that reduce the time and effort needed to complete checkouts.

4.**Digital Currencies** - Some customers now use cryptocurrencies like Bitcoin to pay for goods and services online.

5.**Automated Clearing House Network (ACH) Payments** - ACH payments are electronic bank-to-bank transfers that do not require card networks like Mastercard or Visa.

6.**Cash on Delivery** - Buyers pay for goods when it is delivered to their address. 

When choosing payment methods to use for your e-commerce store, do your research and see which ones your target consumers prefer. You should also assess other costs like transaction fees and additional charges. 

#Know the Basic Principles of Digital Payments for Online Retailers 
 
Understanding how digital payment processing works will help you gain a clear perspective and provide you with a solid base for setting up seamless online payments.  Online payment processing has three main elements:

1.**Payment Gateways** - Payment gateways are essentially the couriers that deliver customer payment information entered on your website to the payment processor. Gateways authorize fund transfers between buyers and sellers.

2.**Payment Processors** - The payment processors take information from the gateway to verify that the client has available funds and then deposit the payment to your designated merchant account.

3.**Merchant Accounts** - Merchant accounts help entrepreneurs manage and decrease costs linked with payment gateways, providing your customers an added level of security to complete transactions.

#Partner with Secure Payment Gateways and Service Providers

Digital payments are completed based on a whole complex process that takes place in seconds. Fraud and other security flaws such as data breaches, mobile payment issues from human errors, and malware are common problems.

Teaming up with high-quality payment gateways and service providers is essential to decrease vulnerabilities that can put your business at [risk of payment fraud](https://q5id.com/blog/fraud-prevention-and-risk-management-a-guide-for-financial-services). Make sure that you and your partners adhere to the Payment Card Industry Security Standards Council's (PCI SSC) standards and rules that ensure best practices for safeguarding consumer data.

#Guidelines to Setting Up Seamless Online Payments for Your E-commerce Store

1.**Assess your business**

Consider the size of your business, including expansion plans. Let's face it: Not everyone has the infrastructure to develop a mobile app and execute top-notch frictionless payments like Amazon, Uber, or Starbucks.

Thankfully, there is a wide selection of third-party payment processors and payment systems to choose from for SMEs. Be sure to [choose the right outsourcing partner](https://strataccess.com/8-tips-in-finding-the-right-outsourcing-company/) by doing a background check on your top choices of payment processing partners. Ensure that you team up with one that has experience in your market.

Assess the type of product or service you are selling too. Credit cards are the most convenient and widely used payment method, making them ideal for any offering. If you sell products that fall more in the category of impulse purchases, it may be wise to include seamless payment methods like mobile wallets.

2.**Provide saved card payments if applicable**

You don't want your customers to scramble for their bank or e-wallet details every time they purchase from your store. If you have a steady customer base, they should be able to save their payment data to make checkout quick and hassle-free.

3.**Choose a merchant service provider**

Problems are bound to happen during your operations, especially when it comes to payments. At some point, there will be customers demanding refunds or encountering some kind of payment error. There may also be times when you have to collect past-due balances.

If you have a sizable business, consider teaming up with a reliable, PCI-DSS (Data Security Standard)-  compliant merchant service provider to help you with a range of customer support services. Your partner should be equipped to anticipate such scenarios and offer recommendations for optimizing your payment processes.

4.**Ensure that Your Payment Page is Client-Centric**

Payment service providers will likely have prepared templates and codes that you can incorporate on your checkout page. They should be able to provide instructions and support as you integrate these elements into your e-commerce store.

Only ask for essential details: name, address, contact details, payment details, and if applicable, the field where users can enter any discount codes that apply to their purchases. You don't want them to be overwhelmed with unnecessary details that can lead to cart abandonment during the checkout stage. 

#Optimized Online Payments Bring in Bigger Business
 
Consumers recognize the convenience and added efficiency to their shopping experience brought by online payments. The number of digital buyers is expected to grow even more. This projected growth is a go-ahead for businesses to continuously optimize their online payment processes and beef up data security measures.

Doing so ensures that buyers and sellers experience the mutual benefits of frictionless payments.