The Elf Off The Shelf: Five Benefits of a Ready-Made Payment Solution This Holiday Season
Article by Chase Jones, marketing manager, North America SMB, Paypal
Starting an online business is a big undertaking, particularly during one of the busiest selling seasons of the year. Most merchants want to focus on ushering a flood of shoppers through their virtual (and physical) stores – and not get mired in the complexity of building a custom online and mobile payment solution. However, there are many pitfalls that can be easily avoided by simply opting for a ready-made solution that will complement, and even integrate with, an existing in-store POS system.
Here are five ways that employing an off-the-shelf online and mobile payment platform can help businesses grow this holiday season, freeing them up to focus on doing what they do best: selling.
1. Meet PCI Compliance Standards – All businesses that accept credit cards, whether online or offline, must follow PCI requirements for security, policies, procedures, network architecture and software design. PCI compliance means that merchants are doing their part to make sure customers’ payment card data is secure. It ensures that shoppers and merchants alike can rest easy knowing they’re protected against the pain and cost of data breaches. But PCI compliance isn’t a one-time “set-it-and-forget-it” event. It’s an ongoing process of continuously assessing your operations, fixing any vulnerabilities that are identified, and making the required reports to credit card companies and banks. In short, ensuring compliance with PCI standards can be a full-time job in itself. Payment processors like PayPal build PCI compliance into their products, helping to reduce your compliance workload, usually at no cost or for a nominal fee.
2. Seamless Integration – Today’s online and mobile payment vendors offer seamless integration with your website and mobile apps. Many also integrate with in-store POS platforms from vendors like Vend, Erply, Leapset and others. Everything from the look and feel of the site or app to the user interface can be customized, so your shoppers may never suspect that their transaction is being processed by a third party. This ensures a seamless experience for your customers, as well as peace of mind for you.
3. Great Customer Experience – Selecting an experienced vendor for your online and mobile payment solution creates a positive customer experience from the beginning. You won’t need to worry that the first few transactions might be ‘glitchy’ or worry about working out the kinks in a brand new implementation. Choosing the right partner will help streamline and unify all of your payment processing needs to better enable business growth – whether you’re doing business online, in-store or a combination of the two. Look for a scalable platform that is able to optimize your payment processing end-to-end, and always keep pace with this thriving and dynamic industry. It’s alongside these types of partners that you’ll truly connect with your shoppers.
4. Data Security and Ownership of your Data – Outsourcing your online and mobile payment processing solution doesn’t mean losing control of your customer data. Vendors like PayPal help keep your full financial data secure, but also understand that your data belongs to you. If you ever decide to switch vendors or build your own solution, your data goes with you.
5. Multi-Platform Processing – The idea of building separate solutions for the web, mobile web, and Android or iOS apps is enough to give even the most experienced developer a headache. Not only will an outsourced online and mobile payment solution enable your business to conduct transactions on multiple platforms, but you can also accept almost every form of payment including PayPal, Bitcoin, Apple Pay, Android Pay, and all major credit and debit cards.
The holiday season continues to evolve and more and more shopping is being done online. Paying close attention to these key considerations for online and mobile payments will help ensure a successful holiday season. Happy selling!
Chase Jones, marketing manager, North America SMB, PayPal
Chase Jones is, focused on launching new products for the SMB online market. In this capacity, he’s been instrumental in helping PayPal bring new payments product to market. Chase has over a decade of experience marketing innovative, best-in-class products for businesses of all sizes across the technology sector.
A grammar and technology geek, Chase holds a Master’s Degree in Communication and has spent over a decade bringing innovative technologies to market for businesses of all sizes.
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