So you already have your e-commerce websites and products for sale. After doing marketing here and there, your visitor is getting crowded. The transaction is getting high. Now one of the most important things to handle is getting rid of problems on your payment process.
Ok, let’s rewind the process all over again. After you have decided what to sell, staffing and business plan. It is the right time to think about how the customers would pay when they make transactions on your sites.
We’ll take a short trip on how payment on internet could be done, other than credit card or debit card. And, see what best options for your online store regarding on complexity and expense.
This is probably the most conventional payment for your online store. Common practice using cash for ecommerce websites known as cash on delivery or COD. As merchant, you will receive your payments as you handed your products to customers. This is a very risky payment, though.
There are chances your customers didn’t fill their data correctly or they pay less and many more reason as disadvantages of this payment methods. Specially, if you have digital products, it will be very hard using this kind of payments.
Direct Account Transfer
Even if it sounds more reliable, still there are limitations for online stores using this kind of payments. First, your transactions will not be completed on one visit from customers. For your customers abroad, they will have to pay extra fee to make the payments and usually bank imposed limitations of how much money to transfer for each account per day.
Merchants also need confirmation from customers for their payments via facsimiles, emails or phone. So you will require more staff to handle the payments. The advantage is your payments will be directly placed on your account safe and sound. It is work best for local online store.