Digital Payment Options for Your Website
It’d be great if customers would just drop off bundles of cash at your doorstep, but your best bet is to choose payment solutions most convenient for them. Enabling online payments on your website can be a viable option to keep business moving. Even though online payment providers will take a small cut of your profit, increased convenience and security make them well worth it. Here are a few terms to understand about online payment systems: Merchant account is a bank account that allows a customer to receive payments through credit or debit cards. Payment gateway is a third-party service that evaluates and processes payments and transactions. Payment processor is the company that a merchant uses to handle credit card transactions. PCI compliance is when a merchant or payment gateway sets their payment environment up in a way that meets the Payment Card Industry Data Security Standard (PCI DSS). The PCI DSS standard was created by the Payment Card Industry Security Standards Council to increase the security of cardholder data to reduce fraud. Why are Online Payment Services Necessary? Thanks to the growth of eCommerce sites over the past decade, credit card payments are now very easy to process on your site. Accepting payments online may be traditionally used for selling your products or services, but can be used for donations as well. You could lose out on sales if your customers can’t easily find what they’re looking for; can’t use their preferred payment method; or have difficulty checking out. Popular providers (listed in no particular order) include: Stripe, Apple Pay, Dwolla, GoDaddy Payments, Square, PayPal, Authorize.net Don’t let online payments be the issue keeping you from making the sale. Choose a solution that works for their needs, then turn your focus to marketing and optimizing for conversions. The Journey is what everyday entrepreneurs, like you, need to follow in the pursuit of online success. Our experienced GoDaddy Guides are here to take you through all the steps, both big and small, that you encounter every day.