E-Commerce Platform: Payment Solutions for Online Commerce
“Each Spaniard spent an average of 2,336 euros on e-commerce in 2021” – Autónomos y Emprendedores (source)
This represents an 11% increase compared to 2020, a year when e-commerce seemed to have peaked due to the pandemic. Two years after the coronavirus crisis, the trend continues to rise with no short-term indications of changing.
E-commerce has evolved into a regular shopping method for Spaniards. Our country ranks third among European countries for online shopping, with 24.7 million people. As e-commerce evolves, so do customer demands.
Faster delivery times, thorough order tracking, easy returns, quick website loading, and convenient payment options are now essential. Therefore, choosing the right payment platform for our e-commerce is crucial.
Advantages of Payment Solutions for E-Commerce
A payment platform is essentially the tool that allows our customers to pay for products/services online while sending the revenue to our company.
It should be a help to our business, not a problem. The chosen payment solution should meet several criteria:
- Easy: User-friendly and simple to navigate.
- Secure: Ensures the protection of customer data and transactions.
- Intuitive: Simple for both businesses and customers to use.
- Fast: Efficient in processing payments.
- Multiple Payment Methods: Supports various payment options.
- Multichannel: Compatible with online, physical stores, phone orders, etc.
Additionally, it should be compatible with our servers, easy to integrate, offer extra features (data analysis, reports, communications, etc.), operate nationally and internationally, fit within our budget, and provide good technical support for resolving issues. Finding the ideal platform is not easy, but there is always a service that perfectly matches your needs, like Wannme: modular, flexible, and customizable.
Advantages of Payment Solutions for E-Commerce
Having a fast, easy, and secure payment process will help your business sell more and enhance the customer experience.
- Simplifies and Accelerates the Buying Process: The cart abandonment rate is around 70%. If your e-commerce fails at the payment stage and takes longer than necessary, customers will become frustrated and may not return. A payment gateway offers speed and manages hundreds of transactions simultaneously.
- Provides Security and Trust: Online shopping security concerns many users, 58% to be exact. Integrating a payment platform into your e-commerce ensures that payments and customer data are secure and protected with technologies such as tokenization, escrow accounts, fraud prevention, digital signatures, etc.
- Offers Flexibility: “30% abandon their cart if the retailer does not offer their preferred payment method.” – D/ARetail. Credit/debit cards remain the most common payment method, but it’s beneficial to offer various options and even create payment models tailored to specific targets: region, age, purchase frequency, etc. Financing, direct debit, or Bizum Request To Pay, you choose.
- Operates Continuously: A payment platform keeps you active and open for business around the clock. Unlike physical stores, e-commerce platforms never stop operating.
- Generates Cross-Selling Opportunities: Customers might buy online and pick up in-store or need to return a product. These actions can drive customers to the store, potentially leading to additional or impulse purchases.
If you’re considering selling online or improving your current setup, it’s essential to take a moment to evaluate or review your company’s fintech platform choice. If you want a comprehensive gateway with multiple solutions tailored to any business or customer, contact us to request your FREE Demo [here].
Benefits of Wannme for Your E-Commerce: Customizable API
With Wannme, you transcend the conventional payment platform limits and enter the new era of on-demand payments. Everything at your disposal to create the perfect custom payment system. Payment methods and types, security, omnichannel capabilities, communications, customization, and easy integration via our plugins or directly with our API.
Wannme integrates easily with e-commerce platforms such as WooCommerce on WordPress and PrestaShop through plugins. Any customer with a profile on these platforms can integrate Wannme very easily.
Don’t work with these e-commerce platforms? Wannme can also integrate directly via our API. You can create a custom integration with all the features your e-commerce needs.
It doesn’t require extra effort, money, or time. With Wannme, you get everything you need in one solution. And if you already have a virtual POS with a financial entity, no worries—Wannme works with different banks to help “supercharge” your services.
Configure the payment module as you like. Easily add the payment methods you want to offer in your e-commerce. Your customers will be able to choose their preferred payment method: credit or debit card, SEPA direct debit, Bizum, PSD2 transfers, financing, and more.
For example, an online florist receives an order for “Mother’s Day.” With Merge Payments activated on their e-commerce, customers can split the price into equal parts and pay their share before finalizing the order, thanks to the Bizum Request To Pay that sends a notification allowing payment directly from their mobile.
Another real-life scenario is phone sales. Does TV shopping still exist? Yes. Similarly, a clothing and accessories company can use this method to process orders via customer service. After the purchase, they send an SMS allowing direct payment. Wannme, through a single panel, manages: physical store, online store, phone orders, email links, and much more. Wannme adapts to you.
Additionally, we are working on a new payment method with QR Codes. A future feature that will create a unique QR code for the purchase, allowing your consumers to pay by scanning the QR code from their mobile and using their favorite payment method.
Stay tuned to our LinkedIn for more information!
