Payment system webshop
As a webshop, you can’t do without one or more online payment systems. I’m sure we’re not telling you anything new with that. Online payment systems are so well established that consumers almost always expect to be able to pay via such a system. But what is it really? A payment system allows online payments to be made. After a customer enters their (bank) information to complete a transaction, the system sends it to the bank or financial service provider for verification. Once the payment is approved, the amount is automatically debited from the account and transferred. The user can then immediately see if the payment was successful.
As we already told you, you can’t live without a webshop payment system. And that’s not surprising, because online payment systems have several advantages. We list the most important ones:
- Convenience: online payment systems are very user-friendly. They often require few technical skills, which makes them interesting for any target audience;
- Speed: completing a transaction is done within seconds with online payment systems. You enter your details, the bank checks those details and the transaction is completed;
- Expectation: many consumers can no longer do without online payment systems. That means they expect to be able to pay through a payment system with you, too;
- Available worldwide: online payment systems can be used anywhere in the world. All you need is access to a stable Internet connection. And that is not a problem these days; almost everyone has fixed internet, WiFi or mobile internet at their disposal.
Webshop payment systems are very secure. They are even safer than older payment methods. This is because webshop payment systems encrypt data and send it via a secure server. In addition, there is a “strong password policy,” two-step verification is often used, and the software is updated regularly. In addition, past transactions can be easily traced and, in some cases, it is possible to request money back. That approach reduces the risk of hacks, fraud and/or theft.
There are many different types of payment methods for online shops. Each has its own advantages. So how do you choose the right one for your shop? With this roadmap, we will show you the way:
- Do research. As we already mentioned, there are many payment methods that can help your customers. Still, not all of them fit your picture. Therefore, read up on them and discover the advantages of each method. With that input, compile a list of features that your payment method should at least have;
- Based on your findings, cross off the first options. You determine the criteria. Cross them off because they don’t fit your budget, for example. Or because they don’t meet your minimum requirements. This way, your list of options gets shorter and shorter.
- Put the remaining payment methods side by side. What are the advantages of one method over the other? More importantly, how heavily does that advantage weigh? By assigning points to each advantage – and minus points to each disadvantage – you will discover which method is most suitable for your webshop.
More and more consumers are choosing to pay in arrears or installment payments. In fact, research shows that 40% have already done so and 58% would use it if post-payment were possible. By offering spread payment, you accommodate people who do not want to or cannot pay for a large purchase all at once. This concept is not new, yet it has only really taken off in recent years. That’s because in3 takes a slightly different approach. Where paying in arrears used to be a big risk for entrepreneurs, it is no longer so. If a consumer chooses in3, we do a quick check. We check the customer’s payment behavior and protect them against overcrediting. This is how we accommodate all parties involved. Does a consumer end up not paying or paying late? Then we take care of the reminders.
We are very proud that our customers rate the in3 payment system for businesses with a 9.3.
With the in3 webshop payment system, you give consumers the option of paying in instalments or in arrears. Without them having to pay interest or be BKR-registered. By choosing in3 you increase the purchasing power of your customers, lower the purchase threshold and even increase the average order value. Independent research shows that order values increase up to 72%.
Want to know more about the advantages of in3? Download our whitepaper and discover why and how you can start with in3. Do you want to start right away? Sign up now.