With so many options for accepting payments, it can be difficult to know which is the best one to choose for your business. However, if you are looking for a time saving solution that can give customers a seamless shopping experience, a hosted pay page could be the answer. As detailed below, there are numerous ways in which a hosted pay page can make running your business easier.
As a business owner, data protection and keeping your customers’ details safe will be at the forefront of your mind. However, complying with PCI scope can be expensive and time-consuming, and take you away from other areas of your business.
However, a hosted payment page can significantly reduce your business’s PCI responsibilities. This is because when you use a PCI compliant payment provider, sensitive information like credit card data will be stored outside of your website and held securely with your merchant services provider.
From the early stages of setting up your online web presence to accepting secure payments from customers as your business grows, a hosted payment page provides an easy to set up option that is straight forward for both businesses and customers.
If you own a small company or you are just starting up, it is likely you don’t have a finite amount of resources to dedicate to every task, and using web developers and web designers can be an expensive process. However, installing a hosted pay page is a simple process, which you should be able to do yourself. Even without extensive web development experience, you can install the page and be ready to accept secure payments without the need to consult an expert team.
Another major benefit of the hosted pay page is the reduced maintenance associated with them: your payment provider will take responsibility for the maintenance side, leaving you to concentrate on running your company.
However, it is not just your business that will benefit: a hosted payment page makes the process straightforward for your customer, too.
Once a shopper wants to check out, they are transferred to the hosted pay page where they can make a secure payment. When the transaction is complete, both you and the customer will get notification that an order has been made and payment received. `
Given the levels of fraud in the e-commerce sector, you’ll need some level of protection for your business. E-commerce fraud is an ever growing problem, and 2016 Experian statistics show that levels are already up by 15% on 2015’s figures.
As online shopping figures are predicted to reach its $523 billion by 2020, improved payment security is a necessity if you are going to enhance consumer confidence and protect yourself from fraud. Installing a hosted payment page also reduces your liability as a merchant as the card details will be stored away from your own platform.
Small business owners usually have limited access to a fraud prevention team. However, when you work alongside a payment provider, they will have effective fraud prevention measures in place to reduce the risk.
Larger companies, who are better placed to have fraud management systems in place, can also benefit from the further layer of protection that can be gained from accepting payments through a hosted pay page.
Shopping cart abandonment is a significant issue for retailers of all sizes. Some of the main reasons cited for not completing a purchase are the complicated checkout processes, limited payment options and concerns over credit card security. With a hosted pay page in place, you can offer a wider variety of payment choices, your customer can be confident that the payment page is secure and they have a straight forward process for paying for their items.
Further, if you want to boost sales, this also means having the capacity to reach out to a wider audience – and a hosted payment page can give you the capability to do this. You’ll be able to meet the needs of customers from overseas who wish to pay in their own currency, and different language options will also be supported.
In addition, hosted payment pages can also adapt to mobile devices. There can be no denying the rising use of smart phones and other mobile devices to make payments for goods brought online: smartphones are changing the way we shop. Research shows that the majority of consumers have paid for a purchase using a mobile device, and with 50.3 percent of e-commerce traffic coming from mobile devices, you need to be able to meet this demand.
A hosted payment page makes mobile payments just as seamless as they would be if they buyer was purchasing via their laptop, and it is a simple way of making sure that you can cater for the growing mobile market.
40 percent of businesses spend 80 hours a year or more on accountancy tasks, and administration is also a major drain on every company’s resources. However, a hosted payment page can reduce this load. You’ll have easy access to payment reports, and you can track sales information, making the accounting side of your business easier to manage.
Moreover, the ability to receive instant order notifications improves your efficiency as a business, allowing you to deal with orders as soon as they come in. This provides the customer with a better level of service, and a satisfied buyer is likely to come back.
It can be difficult to decide which payment option is the most suitable for your business. However, if you want a method that is easy to set up, that reduces your liability, is customizable for consistent branding, and which is straight forward to use, a hosted pay page is a viable choice for your e commerce enterprise.