Subtleties of choosing a payment aggregator for connecting payment acceptance to the site

    Choosing a company that will provide decent internet acquiring for a site is a rather complicated process. When accepting online payments, there are many subtleties, poor-quality implementation of which can lead to loss of profits instead of expanding the online sales channel.

    The Network already has materials on what points to look for when choosing a partner for organizing the acceptance of online payments on the site. In this material we will try to delve deeper and expand the list of points.

    Commission and other payments for the services of the service
    One of the first questions that you are interested in when connecting to receive payments. Naturally, you should pay attention to: the
    size of the commission for successful payments, is there a connection fee, is there a fee for refunds.

    Particular attention should be paid to fees for processing payments. The rate of a payment aggregator often consists of the commissions of the bank through which payments will be processed, plus the commission for additional options that the payment service should provide. Naturally, no one will “shout” about their prime cost, but, due to their interest in partnership, a payment aggregator can voice the price of an issue individually. Based on the data, you can objectively talk about the rate for your Internet business, knowing how much the classic processing costs and how much the additional service costs.
    It should be borne in mind that the commission that is provided to payment aggregators by banks is “wholesale”, i.e. It is almost impossible to get such a tariff directly from a bank to a regular online store. In addition, working with a bank directly excludes the possibility of using a service that can bring additional opportunities to a business, besides classical processing.

    How to quickly connect to payment acceptance
    The easiest way is if you have a website made on the popular CMS, and the payment aggregator has payment modules for these engines. For example, for WayForPay, we developed payment modules for such CMS: Magento, Joomla, WebAsyst, Drupal, Opencart, Prestashop, Simpla, Word-Press Woocommerce and E-commerce
    In addition, the presence of sensible api and support for integration will greatly facilitate the process when connecting.

    The presence of payment modules for popular engines is a plus, but not a fundamental factor in choosing an Internet acquiring service provider.

    Working with documents
    Quite often, Internet businesses need the presence of a “paper component” - monthly reports of work performed, reconciliations and other papers that are so necessary for accounting and the financial department. It is better to immediately coordinate with the payment integrator the frequency and possibility of issuing such documentation.

    Work with fraudulent transactions
    The level of payment card fraud on the Web is growing every year. If a purchase on a stolen card takes place in your online store, then it threatens chargeback, dissatisfaction of the card holder, loss of customer loyalty, fines and other unpleasant moments.
    By default, when accepting online payments, “filters” are taken into account that reject risky transactions. But “filters” reject “suspicious” and not really fraudulent transactions from payment. For example, for 10 suspicious there may be only 1 fraudulent operation. Those. 9 buyers who were not scammers will not be able to make a purchase from you.
    It is important that the payment service that organizes the acceptance of online payments on the site works with risky payments (the presence of an antifraud system).

    Customer support for payments
    In order to resolve the issue of making a payment at an earlier stage — for example, if the card details are entered incorrectly or if there are insufficient funds on the card — it’s important to have solutions that can lead the payment to completion. At a minimum, it is necessary to provide automatic notification of the user about the problem by letter. In addition, the payment aggregator should have a competent approach to abandoned baskets.

    Additional “features” that can simplify the work of Internet business and improve its results
    Quite often, when connecting customers to the WayForPay system, online stores are concerned about price, payments and connection speed. We always try to offer additional “chips” depending on the needs of the business, which can be implemented for the same commission. In any case, when choosing a partner for receiving payments on the site, it is better to voice all the problems and subtleties of the business, so that the payment aggregator can offer possible solutions based on the specifics of the business. WayForPay

    Team .

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