Why must I have an Online Payment Gateway?
Online Payment Gateway is a platform that allows you to receive payment from your customer online. Which means, your customer doesn’t need to make payment to you manually via the cash deposit machine or cheque anymore. If they pay you through Internet banking, then all of the transaction data is stored in your Online Payment Gateway dashboard. Your customer doesn’t need to send you the slip screenshot anymore. And you don’t need to spend time to check manual in your online banking whether the transaction is genuine or fraud.
1. Another step of your business branding
Most of Online Business today accept credit / debit card payment. Take look at Lazada or Zalora. They streamline all purchases through Online Payment Gateway. Having an Online Payment Gateway as platform for your customers increase your brand reputations. Bigger players are already using it. If your Online Business don’t have any integration with Online Payment Gateway, then your are left behind. It’s like you level are far away behind because when it comes to payment purchase, your customer have to do it manual.
2. Majority of customers making purchase through credit card
According to research, 75% of customers prefer credit card as their payment method while shopping online. 67% prefer internet banking and 26% prefer PayPal. The reason why people prefer credit card is definitely because of point redeem. The more they spend using the plastic card, the more they collect points to redeem items.
3. Purchasing item using credit is easier than cash
People like to spend money. Shopping is not just a hobby but sometimes a passion for certain people. Purchasing item through credit is a lot more easier than cash. Why? You need to have money to purchase cash where you don’t need cash to purchase via credit. Which mean, your customer can buy your product even if their bank account is zero.
4. Faster transaction
Compare to traditional payment via Cash Deposit Machine, of course, Online Transaction Payment is faster. Your customer doesn’t need to spend time driving to bank to make payment to you. All they have to do is sit in front of their desktop or simply make payment from their mobile phone.
5. Credit Card user ratio
Based on a research, the number of Credit Card user among Malaysian is 1 to 3. If the Malaysian population is estimated at 30 million, the number of Credit Card user is almost 10 million. This year, the bank has approved almost 8.3 million Credit Card to 28.6 million user. Thus, the market of people with a Credit Card is extremely huge!
6. Secured purchasing transaction
The security behind Credit Card is safe and guaranteed by the banks. For example, take the 3D secure features which enable only Credit Card user can authorised purchased via the OTP password that sent to their mobile phone. This will ensure that the fraud risk is low because only the authorised person can make purchase.
7. Staggered payment from customer
Since you have given an options to make purchase via Credit Card, you actually has given your customer an opportunity to make staggered payment when buying your items. They pay staggered not to you, but to their bank.
8. Sell expensive items
Some of the business owner choose not to sell expensive items. This is because they knew that their customer couldn’t afford to make high amount payment due to insufficient cash. If you have Payment Gateway, you have open a new opportunity for you customer to buy from you via credit. Thus, there is no more problems of selling expensive items.
9. Buying in bulk
10. Accept payment at anytime
Customers can purchase your item and make payment at anytime. Compare to old traditional cash payment, they need to manage their purchase accordingly with some limitation like time. They say that everything is at your fingertips in this internet era. Don’t let your money stay away from their fingertips.
11. Accept oversea’s customer
12. Save your time
If you still receive payment manual, then you need to spend your time to recheck all the transactions daily. This is tedious. If your sales is less than 3 daily, then it is still manageable. Wait until it becomes 30 daily. Then you will start take things for granted. You need more time to do unnecessary things which it can be solved by system automations. Frankly speaking, what is the value of your 1 minute time?
13. No need to scan and email transaction receipt
You simplified your customers purchasing steps. With Payment Gateway, every purchasing data is recoded by the system. Thus, there is no need for your customer to spend time scanning and email transaction receipt to you as a proof of purchase.
14. No more transaction receipt = no more fraud
15. Guaranteed transaction
With Payment Gateway, every success transaction that comes to you is guaranteed, a confirm money. You don’t have to double check your transaction and wondering whether the money is transferred to you or not.
16. Malaysian on mobile
Based on a Google research, Malaysian spent their internet time in mobile. They consume content from their smartphone or tablet. This trending has increase online shopping activity tremendously. If they like to surf, read, buy online, why don’t they make payment online too.
17. 100% Online business
If you subscribe to Payment Gateway, then, your business in 100% truly online. This is because the initial process of purchase until the process of payment done 100% online. No more offline transaction. And since everything is online, then only you can claim yourself an “Online Business Owner”.
18. More online business has evolve to Payment Gateway
Majority of Online Business Owner now understand and know the important of having a Payment Gateway. The business is more efficient and manageable, moreover expandable and reach more markets. This however has open a vast opportunity to them to sells more. More sales means more profit. Now, when is your turn?
19. Payment Gateway is now cheaper than ever
The cost of integrating your business with Payment Gateway is slightly higher before. Some says that they spend almost RM2000 to get a Payment Gateway. Compare to others, senangPay is cheapest and most affordable.
Why do you need to pay more to get something that is insanely same?
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