Payment methods in the online store

An online store is an extremely popular form of running a trading company. It is often an alternative to a traditional store. Many entrepreneurs run both a traditional and online store in parallel. It is then an alternative channel of distribution of goods for customers  payroll software payboy who prefer online shopping. Payments for online transactions require a different payment system than in a traditional store. In this regard, the entrepreneur also has a very large selection.

Operation of the payment system in the online store

Online payment systems allow customers to quickly pay for ordered products and sellers to process orders quickly. The payment system is great facilitation in the conclusion of transactions, but it is worth knowing that sometimes funds from the intermediary’s account do not immediately go to the seller’s account. However, unlike a traditional bank transfer, the payment process through the system is much faster. The customer transfers the payment to the intermediary’s account, payroll software payboy and confirmation of the transaction is sent to the online store’s software so that the seller can immediately process the order.

payroll software payboy

How can we pay on the Internet?

To choose a payment system for an online store, you should first get acquainted with the possibilities of making online payments.

The main ways to make payments online are:

Transfer – involves logging into your bank, where it authorizes the payment. All the data needed for the transfer is filled in automatically, and the data is posted immediately.

SMS payment – involves sending an SMS to the number provided, and in return, the customer receives the access code to enter on the page. The fee is charged to the mobile operator.

Card payment – contrary to appearances, this is the safest way to pay online. It consists in the fact that the customer making the payment must complete the card details in the form provided, then approve the transaction and wait for the settlement center to respond.

Electronic wallet – this payment method reflects a traditional wallet, but it is on the Internet. The customer sets up an account with the selected supplier to which he pays money. When making a purchase, he plays with his wallet. Usually, this service is free, but sometimes there may be a commission

Criteria for choosing an online payment system

The payment system in the store should be attractive to the buyer and seller. When choosing, pay attention primarily to the available payment options, system security, and ease of use.

In order to choose an online payment system, the following criteria should be taken into account:

  • Registration or activation fee – sometimes services want a fee for setting up an account, and sometimes setting up is free, but you pay for its activation. It depends on the system
  • Fee for withdrawing funds from the account – this is usually a free operation