Ensure Smooth Payment Processing Services to Enhance your Ecommerce Business
Acquiring an understanding of the payment processes
Once the customer is done with his shopping on your store, he proceeds to check out. He is then given a list of options of payment methods to select the one he finds convenient.
Shopify is among the leading ecommerce platforms solution that endeavors to make online stores convenient and user-friendly for all parties involved.
On Shopify, you get a variety of options in payment methods among which you get to decide the ones you want to be enabled.
Certain factors play a role in influencing this decision. For instance, if you are willing to provide your customers with the option of using a credit card, the option of Shopify payments can be used. An alternative is to involve a third-party provider.
Alternative methods of payment for customers include Amazon pay, apple pay and PayPal. Crypto-currency is also an option.
The customers need optimal convenience which is why they need to be provided with the feature of accelerated checkouts. This can be ensured with Shopify pay store as you will get instant information about shipping and payment along with the returns. This saves the customers any hassle, and thus they are impressed with how smoothly your store handles things.
For deciding on the right payment provider, it is essential to pay heed to the country where your business is primarily located. You can take a look at the payment gateways by the country list that Shopify has. This will let you know the payment gateways that can operate in your country.
Thus, every service of payment processing can be acquired via Shopify with a lot of ease.
Getting your money
How you get the money
Frequency of payments
The amount you get
How is the payment processing on credit cards done?
When the customer uses a credit card to pay for the order he has placed, the payment has to be subjected to processing before your account gets the credit. This processing is done by the payment provider and includes various stages, including:
Authorization of the payment: the customer makes the payment via credit card. Your payment provider checks it out to ensure that the card is Valid. If the card has the required funds, authorization is done by the issuer.
Capturing: after the stage of authorization, capturing of the payment is done. During this stage, the details of the amount are forwarded to the acquirer.
Clearance: the acquirer goes through the details, proceeding to request the credit card company for the required funds. The company then forwards the information of transaction to the issuer. After subtracting fees for the services from the total amount, the remaining is sent back to the company. Another subtraction is done from the amount, this time by the credit card company and the remaining amount is then forwarded to the acquirer.
Funding: after the acquirer gets his fees, he transfers the remaining amount to your account.Click Here
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