You’re starting a new business. What payment processing tools should you use?

The best way to select the pricing model and the types of payments is by analysing the competitors. 1. What are your competitors offering? 2. Are their customers happy with it? What are the positive and negative reviews of customers about it? If the existing customers of the competitors are unhappy with the payment methods, then solve it by providing what they want. Eg: If customers want "Pay as you grow" pricing model over subscription, then offer that. When selecting a payment gateway, always go with a secured, reliable one that your customers and competitors' customers are comfortable with. Remember we're a startup. Our goal is to get more sales with happy customers, not checking what the best payment gateway is.

You should bring both: agnostic and global payment methods specifically multi currency & local ones for better market fit, cultural penetration mindset and higher conversion rates.

For a new business, consider payment processing tools like Stripe, PayPal, or Square for their ease of use, security, and scalability. These platforms offer seamless online payments, invoicing capabilities, and integration options, catering to various business needs while ensuring a smooth payment experience for customers.

UPI based payment collection method is a must if you're in India. It's easy, fast and free. Depending on whether your business is online or offline, you need to have a swiping machine and/or a payment gateway, to accept all kinds of credit/debit cards. Ensure you have a good mechanism to even accept international cards, amex, etc. I'm NOT a fan of cash on delivery, but if it's relevant, you can activate that too. Most courier partners offer this. If it's relevant/possible, have an EMI option with the right partnership. You should not lose any business because of not having the ability to accept any kind of payments...

You can start by taking a deeper dive into your target market. ?????? ???????? ???????? ???????????????? ???? ???????? ???????? ??????????????????? Then you can look up any statistics about what is the most used form of payments. Having a ?????????????? ?????????? ???? ?????????? to ask would put this process on steroids but a statistic would be just fine if you don’t have the resources yet.

Most providers aimed at online solutions bundle their services in easy-to-understand packages with a payment structure that consists of: 1. Transaction fee (2-4%) 2. Flat fee per transaction ($0.10 -$0.50) Some platforms that integrate payment fees charge a flat 5-15% commission. This covers everything: hosting your sites, client comms, advanced marketing tools and of course check-out and invoicing. They can also offer advanced payment options like subscriptions or "try free for 30 days" and then pay.

O custo-benefício sempre deve ser levado em considera??o. As facilidades geradas, como parcelamento em maior número de meses, a antecipa??o de recebíveis que gera liquidez de caixa, por exemplo, podem gerar taxas mais elevadas, mas garantem um maior sucesso às atividades das empresas. Formas de tornar esses custos menos impactantes no or?amento existem. Geralmente s?o inseridas no valor final, pois o cliente também está sendo beneficiado, mas existem programas de fidelidade que devolvem o juro e as taxas em pontos, por exemplo, o que deixa o cliente feliz e já fidelizado para a próxima compra.

Fees should be a side ‘problem’ if your solution is highly optimized for cross border transactions and high conversion rates.

Understand the fee structure of different processors. Look for transparent pricing with no hidden fees. As a small business, every penny counts, so compare rates to find the most cost-effective solution. Remember, lower rates might come with fewer features, so balance cost with your business needs

It's important to consider the fees related to each transaction when choosing a payment processing solution. Depending on a number of variables, including the supplier, payment method, currency, and sales volume, the fees and rates may vary dramatically. It's critical to evaluate the costs and rates provided by various payment processing technologies in order to ensure that they are in line with your cash flow and budget.

When selecting a payment processing tool, it's vital for your company first to establish robust cybersecurity policies. These policies should focus on protecting sensitive customer data from cyber threats. Ensure that your chosen payment system aligns with these policies, offering advanced security features like encryption and tokenization. Additionally, the tool must comply with industry standards such as PCI DSS, GDPR, and PSD2. Establishing these cybersecurity measures beforehand not only secures data but also fortifies your company's credibility and trustworthiness in handling sensitive information.

I have been using Thrivecart and the sales page templates I use convert well as it's a good place to list benefits, etc., to make sure all objections are handled and the customers really want to finalize a purchase and click buy on the checkout button.

Ensuring the security of your payment processing is paramount, considering the sensitive nature of data involved—customer information, card details, and bank accounts. Protection against fraud, theft, and breaches is crucial. Choose a payment processing tool that implements robust security measures like encryption and tokenization. These safeguards not only shield your data but also prioritize the security of your customers' information.

A seguran?a e conformidade s?o aspectos críticos ao escolher uma ferramenta de processamento de pagamento. Dados confidenciais, como informa??es de clientes e detalhes de pagamento, precisam de prote??o contra amea?as como fraude e viola??es. é essencial optar por uma ferramenta que empregue medidas de seguran?a robustas, incluindo criptografia e tokeniza??o, para garantir a prote??o desses dados. Além disso, verificar a conformidade com padr?es do setor, como PCI DSS, GDPR e PSD2, é fundamental para assegurar que sua escolha atenda aos regulamentos relevantes e mantenha a integridade dos pagamentos e dados do cliente.

Payment security is non-negotiable. Ensure the processor is compliant with industry standards like PCI DSS to protect sensitive data. During my time at MNP, we emphasized the importance of strong security measures to build customer trust and avoid costly data breaches

My advice here would be to ???????? ???????? ???????????? ?????????????????? ???????????????? and ensure that there is a way to connect your tools together via APIs or other methods.

It's essential to ensure that the payment processing tool you choose not only fits seamlessly with your existing systems but also maintains high-security standards across all integrations. Integrating a payment system with various platforms like your website, e-commerce platform, accounting software, and CRM system creates multiple touchpoints where data is exchanged and stored. Each of these touchpoints must be secured to prevent vulnerabilities that can lead to data breaches.

Payments Orchestration Platforms are the way to go nowadays when considering a multi channel cross border solution. Less integration costs, less code debt, more technical freedom, less commercial or partner (processors/acquirers) dependencies.

Consider the integration factor when choosing a payment processing tool. Ensure a smooth and consistent payment experience for both you and your customers. Look for a tool that seamlessly integrates with your website, e-commerce platform, accounting software, CRM system, and other essential business tools. Verify compatibility with your devices, browsers, and operating systems to guarantee a hassle-free experience without the need to switch between different applications

The payment processor should easily integrate with your existing systems – be it your website, accounting software, or CRM. Seamless integration simplifies operations and provides a better user experience. For example, in HAK Fashion, using a processor that integrated well with our e-commerce platform was crucial for efficiency

This is one of the most overlooked aspects. Since payment methods and ?????????????? ???????????????? ?????? ???? ??????????????????, make sure that the provider has your back 24/7, or you will lose a lot of customers.

When selecting a payment processing tool, prioritize reliability and responsive customer support. The intricacies of payment processing can bring unexpected challenges, and having a dedicated, knowledgeable support team becomes paramount. Ensure your chosen tool not only facilitates seamless transactions but also offers swift and efficient solutions to any issues that may arise.

As grandes empresas de pagamento, via de regra, investem na qualidade do suporte e atendimento ao cliente. Porém, justamente o fato de serem grandes é o que lhes faz ter a necessidade de investimentos cada vez maiores, geralmente optando por chatbots e atendimentos automatizados, o que, para quem está come?ando, proporciona experiências muitas vezes frustrantes. As fintechs menores, desde que bem conceituadas, tem maior condi??o de oferecer um suporte personalizado e mais adequado às necessidades das empresas pequenas, médias ou que está iniciando no mercado.

Reliable customer support is essential, especially when you're starting out. Look for processors with a reputation for excellent service and support. Having someone to turn to for quick problem-solving can save a lot of time and stress

??? E-commerce Store ?? Tool: PayPal ?? Use: Global customer transactions ?? Benefit: Wide acceptance, easy integration ??? Restaurant Chain ?? Tool: Square ?? Use: In-person and online payments ?? Benefit: Flexible POS system, quick setup ?? Online Education Platform ?? Tool: Stripe ?? Use: Subscriptions, course payments ?? Benefit: Recurring billing, multi-currency support

It depends on what type of business you’re operating. Online e-commerce: Stripe -Simple setup -Allows all primary payment methods -Easy to use interface and reporting Brick n’ Mortar + Online: Square -Square has a robust suite of tools and hardware for accepting payments in person and online. -Simple POS system that’s extremely user friendly. -Participates in some industries that Stripe does not… like CBD. Multi-national / Complex Business: Adyen -Most major online marketplaces have shifted from Stripe to Adyen. -They’re the leader in processing foreign transactions/currencies, and providing tools for multi-national businesses. -Also important to note that Adyen is their own bank, giving them direct control of underwriting.

Think about the future scalability of the payment processor. As your business grows, your payment processing needs will evolve. Choose a processor that can grow with you, offering advanced features and capabilities as your transaction volume and business complexity increase