We live in a digitally-driven era. Brands that have digitised their presence are doing extremely well on a global level. In the light of the Covid-19 pandemic, a lot of business persons have started online stores for their businesses. Creating an online store or creating your business account on an e-commerce website enhances brand awareness by helping you boost your online presence and attract more customers to your goods and services. Many people are gradually switching to substituting their physical stores for online stores. Switching to an online store has its own benefits.
Online businesses are businesses that are driven by the internet. In this type of business, commercial transactions and information sharing take place across the internet. These businesses are usually based on websites, blogs, social media channels, and e-commerce websites. There are numerous benefits of online businesses. An online store enables you to start selling your products right away. This way, you do not need to raise funds and capital, or human resources to do your business effectively. More opportunities can arise through online stores. Alongside selling your products, online stores also advertise them and help you reach the right audience.
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What are the salient features of an online store?
- Operating cost: Online businesses have substantially lower operating costs than traditional offline businesses. A lot of potential investments are saved due to online businesses.
- Office space: Online businesses usually do not require offices. They usually have online stores or sell on e-commerce websites. But, if an office is required, physical premises can be bought or rented. Physical businesses usually require larger office spaces for storage and work purposes. This cost is saved in online businesses.
- Hiring employees: If there is no physical business, the cost of hiring employees can easily be eliminated. This allows the owner to use that money for other fields.
- Availability: An online business offers services 24/7. Such businesses usually have no time restrictions. Customers can order goods or avail of their services whenever they want, according to their convenience. This offers more opportunities for sale.
- Accessibility: Online businesses have no geographical restrictions, either. Customers across the globe can place their orders, increasing the reach of these businesses. This way, international customers can be targeted.
- Reach: Using the right marketing strategy and digital marketing tools, the reach of online businesses can be increased considerably. These can be listed on e-commerce websites, this contributes to increasing their sales. With an online store, it is easy to target an international audience, unlike traditional physical businesses. There are no restrictions in the reach.
What are payment pages?
What if we tell you that you can settle your payments without the integration of payment gateways? Yes, you read it right. There’s no need to build your own website and host it or integrate a payment gateway into your website or mobile application. Payment pages are particularly curated to accept payments from your consumers. You need not have a pull-fledged, pre-designed website for it.
You can just design a storefront for your online store and start accepting and settling payments from your customers across the globe. An additional benefit is the fact that you do not require prior technical knowledge or coding experience to set up a payment page. Payment pages are relatively newer payment solutions that soared in popularity and have enabled a lot of business owners to boost their revenues. Payment pages are the easiest payment acceptance methods.
Payment pages deal with the personal transaction details of the customers. It involves the data about the account holder i.e. the first and the last name, contact number, credit or debit card number, email, and so on. Such a page is a crucial step when a customer places an order because only after filling in this page, the client confirms the order. The money is then withdrawn from the bank account of the customer after bank authentication and processed to the merchant’s account.
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Types of payment pages
There are two main types of payment pages:
- HPP: This kind of payment page redirects the customers to an external link in order to complete payments.
- API: On an API page, the customers pay for the goods and services without being directed to an external link or page.
In order to process the order, you should fill in the payment page.
Benefits of a payment page
Payment pages are super functional and easy to use. Their excellent features are ideal to give wings to your online store. If you want to provide your customers with a brilliant user experience, consider setting up a payment page for your online store. We have compiled a list of benefits a payment page will provide you with. Read on and find out.
- A wide range of listings: You can list a wide range of products and services that your online store sells, on your payment page. We suggest you add pictures and descriptions along with the products.
- Intelligent purchase controls: You can retain the highest degree of control over the minimum or a maximum number of products that your customers can buy. Set a minimum amount your customers can purchase a product or service in.
- Smart reporting and analytics: A payment page allows you to get detailed insights for each item sold, based on real-time transactions from the dashboard to help you make more effective business decisions.
- A smooth user experience: Payment pages are easy to execute and will provide your customers with a smooth and streamlined user experience. This will make a positive impression on your customers and they will keep coming back to you.
Take your online store to newer heights with effortlessly executed payment pages. It is important to evolve and update yourself with the prevailing technology in order to stay in the competition. If you want an edge over your competitors, you must consider integrating your business with the latest trends. Payment gateways and pages will prove to be valuable assets for your online store. It is an investment that is feasible but will keep offering you dynamic returns in the long run. Are you ready for secured transactions with Payomatix?