Online bill payment has become one of the most used methods for eCommerce businesses for their transactions. However, there has not been one but many methods developed in recent times for the same. Let’s dive in and take a look at the top 5 ways to accept online payments for eCommerce businesses.
Top 5 Ways for Ecommerce Businesses to Accept Online Bill Payment
Ecommerce businesses have truly gone global so they would need appropriate tools for safe and user-friendly experiences for bill payment. Here are the five of them:
Braintree
Braintree is a PayPal affiliate that serves as an all-in-one bill payment solution. Rather than just managing money transfers, Braintree provides a “white glove” service, including fraud detection and safety, data security, reports and analytics, and simple configuration with third-party providers such as 3DCart, BigCommerce, WooCommerce, and Yodle.
Braintree integration can be as straightforward or as complex as you want it to be. There’s a pre-designed drop-in UI, or you can use the Custom UI and its hosted fields to configure the checkout stream. Hosted fields are protected frames from which the customers can enter confidential information.
Braintree has a range of tools for eCommerce businesses, each of which manages payments in a distinct field.
- Braintree Direct is a complete payment solution for eCommerce businesses who need to accept credit card, debit card, and PayPal payments from customers through the web, mobile app, or native applications. This product is accessible to people all over the world.
- Braintree Auth is designed for service providers who need a way for their customers to pay for their services. This commodity is only available to companies in the United States.
Go Cardless
GoCardless is an effective online bill payment tool for UK eCommerce businesses that need an easy way to make recurring payments with direct debit (such as subscriptions). You can deduct the required amount from the customer’s bank account rather than accepting credit or debit card payments.
GoCardless claims that its service is particularly useful for:
- Variable-amount recurring bills
- Subscriptions with a fixed price
- Keeping track of compensation for those customers with whom you have a long-term relationship.
GoCardless offers simple online management and an automatic payment collection system that takes only minutes to set up. You can seamlessly import your data into GoCardless if you already have a system in place.
Furthermore, GoCardless is less costly than many other payment methods for eCommerce businesses. With its ability to be streamlined, both on your end and the customer’s end means you’ll spend less time handling your transactions.
Stripe
Stripe is a sleek, skilfully planned payment processor with several highly customizable options for eCommerce businesses. Stripe’s mission is to manage all aspects of online payment technology, including infrastructure, fraud prevention, security, and banking integrations.
Although Stripe bills most of its offerings as options built and developed for developers, Stripe Checkout is simple enough to start using with little difficulty, even if you don’t have a lot of technical expertise.
Stripe Checkout is an easy-to-use bill payment method that you can easily incorporate into your website. It works on computers, tablets, and smartphones alike. Checkout has been converted into twelve languages by Stripe, which can accept credit cards, debit cards, and Bitcoin.
Authorize.net
Authorize.net makes accepting electronic and credit card payments easy, whether in person, online, or over the phone. It is a subsidiary of Visa and a leading payment gateway provider, handling billions of transactions.
It is a great way to find workable solutions for your company and help you give attention to your interests. Since 1996, they’ve been supporting retailers and small businesses.
Authorize.net allows you to accept payments in whatever form is most convenient for local or e-commerce businesses, whether it’s via the website, mobile app, or manual transactions. They make accepting bill payments by credit cards simple and help you get paid.
PayPal
PayPal is one of the most commonly used payment processors by eCommerce businesses, and its business division includes a range of resources for processing online payments. You can integrate PayPal functions into your purchase, enabling you to accept bill payment via PayPal or credit cards from your customers.
Once you start taking payments, PayPal closely examines your company. The company’s risk department employs machine learning and sophisticated algorithms that have been fine-tuned over decades of transaction data to identify any transaction that appears to be suspicious.
Final Words
As an ending note, there are various online bill payment methods nowadays which are considered safe for processing transactions for eCommerce businesses. However, users and merchants must choose the most suitable for them from a long list of options.
