Online retailers looking for an online payment solution have every interest in comparing the offerings on the market. It is about choosing a service that is reliable and easy to use on a daily basis. To help them in their approach, this article focuses on three key questions. They concern security, pricing, and integration with their e-commerce platform.
How does an online payment solution ensure the security and compliance of payments?
An online payment solution is a service offered by licensed professionals. It is either a bank or a company specialized in payment processing. We refer to payment service providers (PSP). Every PSP is obliged to comply with international standards and the European regulations relating to online payments. For e-commerce merchants, these are guarantees of security and compliance.
Several security protocols are obligatorily integrated into online payment solutions, for example :
- the PCI DSS standard, which protects payment data ;
- 3D Secure, which secures card payments (credit/debit cards such as CB, Visa, Mastercard, etc.) and aims to combat fraud ;
- the encryption of sensitive data ;
- the GDPR, which protects users’ personal data.
Moreover, the PSP may offer other security measures to its clients, for example, depending on the origin of the IP address, the transaction amount, etc.
The PSP is the intermediary between buyers and merchants. Its role is to arbitrate any disputes. Its responsibility in the fight against fraud is engaged.
What are the costs and pricing practices?
As a general rule, the pricing does not depend on the size of the e-commerce. The commission rate is the key element. It is the percentage taken on each transaction. It varies according to the offers.
Merchants often have the choice between a subscription-based offer or not. It is important to detail what is included in the offer, because there may be paid options. This is an additional cost to consider.
Within the framework of a monthly subscription, it is possible to benefit from a more favorable commission rate. To choose, one must take into account sales volume.
How does the technical integration work?
Most PSPs offer a simple solution to integrate with the main CMSs (WooCommerce, Magento, PrestaShop, etc.). It is a payment module to install just like any extension. This allows access to various features to configure the checkout page and manage transactions, as well as a dashboard and reporting tools.
For a customized online store, the PSP usually provides developer-focused documentation. Experts have access to a library of APIs and/or an SDK (Software Development Kit), i.e., a software development kit.
Ideally, to benefit from real support, it is advisable to choose a provider that offers responsive customer support. Some offer telephone assistance.
Autres questions fréquentes
As a rule, the offers allow accepting payment cards, electronic wallets (such as PayPal, Apple Pay, etc.) and bank transfers. The e-commerce should inquire case by case about other payment methods (gift cards, dematerialized vacation vouchers, etc.).
Yes, for most solutions. However, it may be an optional feature. It is potentially a cost that adds to the commission fees.
In summary, merchants can be reassured about the security and the simple and quick integration of accredited online payment solutions. The comparison should mainly be based on pricing and features. Professionals who also run a physical store (brick-and-mortar or mobile) can inquire about mobile card terminals (mPOS) and their advantages.
All of our information is, by nature, generic. It does not take into account your personal situation and does not constitute personalized recommendations for conducting transactions and cannot be equated with financial investment advice, nor with any incitement to buy or sell financial instruments. The reader is solely responsible for using the information provided, and no recourse against Cafedelabourse.com may be sought. The publisher’s liability cannot be engaged in case of error, omission or ill-advised investment.
