We tell you everything you need to know to incorporate a secure payment platform into your online business.
In recent years, there has been a noticeable change in consumer behaviour in terms of online shopping both in Spain and in Europe.
The pandemic has marked a milestone in the implementation of online sales as a way for SMEs to adapt. According to Salesforce data, e-commerce transactions have seen a 58% increase in the first quarter of 2021, compared to 2020.
This increase in online sales has created a great opportunity for small and medium-sized enterprises. However, there are also new challenges to be faced in this digital age. One of the most important is to be able to gain the trust of customers when making a payment to purchase a product or service online, as our consumers may fear being victims of a possible scam.
Therefore we want to give you all the information you need to have a secure payment platform in your business.
What is a payment platform?
It is a service provider that authorises payments to electronic merchants in a reliable manner. These platforms allow the linking of a bank card, encrypting the information and guaranteeing secure transactions.
Types of platforms
We tell you which are the most used and secure payment platforms so that you can incorporate them into your online business.
Card payment gateway. It is an intermediary service that allows customers to make online purchases through the exchange of data between the buyer, banks and seller, in a secure way. It works like an online Point of Sale Terminal (POS). That is, when a customer wishes to purchase any of our products or services online, the payment gateway or POS encrypts their bank details. This data is checked by both our business' bank and the buyer's bank in a matter of seconds.
Paypal. It is one of the platforms that has been on the market for the longest time and is therefore one of the most popular worldwide. Through the creation of an account, it allows the user to make purchases through its system, without having to share banking information with the online merchant directly. In addition, it encrypts all transactions for security and has a simple set-up that allows us to offer our customers different payment methods such as pay as you go, subscriptions or international payment options.
Google Pay. It is a system that allows different payment methods to be registered in a single application for use in both online and physical establishments. It has a security system in which the registered card information is never shared with the merchant but sends an encrypted code that allows the transaction to be carried out.
Apple Pay. This system is like the previous one, with the particularity that it only works for Apple users.
Amazon Pay. It is another payment system in which users must open an account to be able to make payments with this method. Having the advantage that the transaction is made through encrypted codes.
How to choose a secure payment platform?
Now that you are familiar with the types of payment platforms, here are a few things you should consider when choosing the right one for your business.
Integration with your SME website. It is important that the payment platform you choose is compatible with your website and easy to integrate.
Ease of use. It must provide ease of use, confidence and security to our customers when making any payment on our website.
Support and customer service. That they are available for any doubt or failure, and that they have different communication channels.
Security. It is of the utmost importance to have an encryption mechanism to protect our customers' information and to comply with security standards and laws.