Creating An Online Payment Portal
Published on 02 July 15
John
1
Today, more business than ever is conducted online. That's why any company that wants to attract customers and keep them coming back will provide a decent online payment portal. But it's one thing to want something great like that, and another to actually make it a reality.
So here's what you need to know about online payment portals, or online payment gateways, as they are alternately called.
The Advantages Of An Online Payment Portal
The article "5 Tips for Simplifying Your Healthcare RCM" points out that "An online payment portal gives patients a convenient alternative to waiting for paper bills and mailing in checks". Online users want a hassle-free experience, whether they're simply looking up something or making a purchase, so the convenience of an online payment portal is one of the most compelling reasons to put one into use.
But it's not just convenient for the customer. Online payments are processed faster, which means the business gets its money faster. This payment method also saves on postage, paper, ink, and other office supplies. The incidence of errors made by the payer or the payee decrease, which means less waste.
But it's not just convenient for the customer. Online payments are processed faster, which means the business gets its money faster. This payment method also saves on postage, paper, ink, and other office supplies. The incidence of errors made by the payer or the payee decrease, which means less waste.
Getting Started
The first thing any business owner needs to decide is whether to build their own portal in-house, or use a third-party agency. What you need is a checklist that gives you an idea of what sort of things you need, regardless of your choice.
In-House Portals
In order to build your portal in-house, you need to have a secure server, a computer that uses SSL technology to encrypt private data. Apply for an SSL certificate online. Next, you need to let your customers know that their data is secure, and you do that by registering your site with a digital authentication service, getting a certificate in the process.
With all that in place, you now need some form of virtual shopping cart, which means either buying pre-made software, or designing your own (hint: it's easier and faster to just buy it). This cart allows customers to perform a checkout.
Last but not least, you need to have a credit card processing system in order to handle payments, and an Internet merchant bank account. There you have it.
With all that in place, you now need some form of virtual shopping cart, which means either buying pre-made software, or designing your own (hint: it's easier and faster to just buy it). This cart allows customers to perform a checkout.
Last but not least, you need to have a credit card processing system in order to handle payments, and an Internet merchant bank account. There you have it.
The Outsource Option
So, you can take it on yourself to put together your own portal as shown above, or simply outsource the whole thing to an outside company. No doubt you've heard of PayPal, which is one of the most popular such solutions, but certainly not the only one. There's also Google Wallet, Amazon Payments, WePay, Authorize.Net, and WooCommerce, to name a few.
As a rule, these services handle everything for the business. No mess, no fuss, although, of course, you have to pay them for the service.
As a rule, these services handle everything for the business. No mess, no fuss, although, of course, you have to pay them for the service.
Either Way, You Should Do It
No matter which option you choose, you need to implement such a portal sooner rather than later, unless of course you've already done so, in which case, good for you! The Internet has opened up so many wonderful business opportunities; don't let the convenience of online payments pass you by.
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Really Great article John. I think this will certainly help users when deciding which option to take with their payment gateway. We actually carried out some research a few months ago which compared some of the top e-commerce payment gateway providers http://www.pswebsitedesign.com/payment-gateway-comparison/ this might be helpful for people who are unsure about which option to go down.