This article will help you learn how to add a payment method to your website; a prerequisite to expand and grow your business online.
One of the most important considerations while setting up an e-commerce store or online store is to integrate an online payment method into your website.
This article will help you learn how to add a payment method to your website; which is a prerequisite to expand and grow your business online. Key steps are summarized below• Research the Available Options• Research Payment Gateway Providers• Gather Details of Hosted and Non-Hosted Gateways• Integrate Payment Methods• Set Up a Merchant AccountLet’s dive in and learn more about each step.
- Research the Available Options
If your business will target customers based mainly in UAE and around the region, then you have to research suitable payment options that are popular and used by consumers in the region. You do not want to integrate a payment solution that people in the region are not familiar with. Key questions to ask include:
- What payment methods are supported by banking institutions locally?
- Which online payment methods are most popular amongst consumers in UAE and around the region?
- What are the Set-up fees for the different options?
- What per transaction and additional transaction fees that apply for the different options available? Monthly or annual service fees, and so on.
- Research Payment Gateway Providers
The main function of a payment gate is to process the information of a payment method used by customers. Generally, payment gateways are of two types: hosted and non-hosted payment gateways. The former takes the online customer from your official website to a more secured site to make the payment and then redirects back to your site. This option is simple, customizable, and highly secure. Amazon Pay, PayPal, and Stripe offer hosted gateway solutions. Non-hosted gateways allow customers to enter the details of their payment mode like credit card directly on your website. You have to ensure the safety and privacy of the users’ data from online cyber-attacks. Non-hosted gateways are expensive but provide a better customer experience. 2Checkout, Telr, Payforte and Paytab are some of the non-hosted gateways available in UAE.
- Gather Details of Hosted and Non-Hosted Gateways
Any reputable Web design company in Dubai can help you finalize a decision. Check the charges of setup, transaction, integration, and other fees of both gateways and make a decision accordingly. Both types of gateways charge extra fees for security features, subscriptions, renewals, etc. Explore all features and pricing and choose the one that meets your business requirements.
- Integrate Payment Methods
After choosing a gateway, you have to integrate it with your website with the help of a web host provider. A test run to make sure the payment gateway is working perfectly should be carried out once the integration is complete. Once the process is complete, customers will be able to select products or services and have payment seamlessly processed on your website.
The registration process with the payment gateway provider would normally involve submission of documents to establish that the online store is legally registered and its owners have all the legal documents to operate the business. Once the verification process is complete and the Merchant ID is created, your web developer can then help you with integration by following the steps detailed in the documentation of the payment gateway provider.
- Set Up a Merchant Account
Lastly, you have to create a merchant account and link all payment services with it. This account deposits the payment from the customers’ accounts directly to your bank account. These accounts come with fraud protection and provide a secure channel to manage and settle electronic transactions. This process is normally done in consultation with the bank where your business account is domiciled. Final Remarks
Customers expect a payment method to be secure, authentic, and quick. So, make sure you choose the right payment method. Dubai has some of the best web design companies in the region so a careful research can help you identify and engage one to support with integrating online payment for your website.