Setting up an online store involves a lot, from finding the right ecommerce platform to optimizing product listings, and of course collecting payments for your products.
Selecting a payment gateway is a crucial part of your online store. Not only do you need to transfer payments to your account, but you also need to protect your customer data.
Create a merchant account
To collect payments from customers, you need a business account that accepts multiple forms of payment, including credit cards. All payments end up in this merchant account and you can then transfer the funds to your business bank account. The safest and most secure way to establish this account is to use the payment gateway built into your e-commerce platform. Using this option ensures that maintenance and updates to your integration will be handled by the provider. It also gives you a company to contact when you need help.
Accept multiple forms of payment
When setting up payment options on your online store, your customers need options. While it’s common to accept credit and debit cards, you should also consider offering flexible payment options such as digital wallet payments, mobile payment apps, and pay later options. Using an all-in-one payment solution can help reduce the number of payment integrations you need, making it easier and more secure.
Digital wallets are becoming more and more popular with customers. With more and more people using PayPal, Google Pay, Apple Pay, and Venmo, it can be beneficial to offer them as payment options. These allow you to offer a wider variety of payments, help your customers earn rewards, offer tighter security, make it easier to pay on mobile devices, and attract a younger customer base.
Customer account options
When you make a purchase, you need to decide if your customers need to create an account or if they can make a purchase as a guest. Checking out as a guest can get them through the process faster. Consider giving them the option to create an account later. Another option is to let them log in with their social media accounts or Google. This allows you to authenticate the customer while making payment easier for them.
You should include layers of verification for your account holders. This includes asking them security questions if they forget their login information or sending an email to verify their information.
Establish PCI Compliance
There are numerous Data Security Standards (DSS) that the Payment Card Industry Security Standards Council (PCI SSC) sets and that merchants must follow to ensure the security of global payments. These standards protect cardholder data and monitor access to your systems.
PCI compliance is typically a built-in component of your e-commerce platform.
Get an SSL certificate
You need an SSL certificate to protect your customers’ information – both their data and their credit card information. SSL – the “https://” in your store URL – keeps information private, giving your customers confidence when shopping on your online store. Most ecommerce platforms offer SSL certificates as part of their offerings.
Create visible payment buttons
This may seem like an obvious addition to your site, but it’s essential to create checkout buttons that stand out and are easy for customers to access. Using a bright color that catches the user’s attention can make these buttons more visible.
Prevent fraud
Enable customers to purchase with confidence from your online store by using fraud prevention tools. Some common tools are Address Verification Services (AVS) to compare the billing address to the address on file with the customer’s bank, reCAPTCHA to ensure customers are real humans and not robots, and Fraud Score tools to detect suspicious activity.
In conclusion
Securing a payment gateway is an essential part of building an online store. It’s essential to find a solution that allows you to process payments quickly and easily, while protecting your customers’ data. Volusion’s iconic payments platform, Volusion Payments Powered by Stripe, offers these services and more. Check it out here.