The role of payment gateways in e-commerce and what Twispay brings to the table

The last couple of years proved that e-commerce isn’t only for big brands, those that have the financial potential and expertise to invest in huge online stores, media campaigns, and marketing. It’s also for the independent, local companies trying to approach new consumers and make their products accessible on a larger territory. The fast digitalization associated with the pandemic restrictions proved that a good strategy, diligently implemented, can become a game changer for your (not so) average next-door shop.?

If 2021 and 2022 helped companies understand how they can benefit from e-commerce, 2023 will be a year of maturing, in which operators will want to make the most of the tools they have at their disposal. In this context, I expect marketing professionals to treat each user journey element as an asset.?

At Twispay, we know that online payments are not only an enabler of e-commerce but a critical step in the purchasing process that can make or break a deal. As more professionals understand this, we already see requests to treat payment processing as an integral part of the user journey and make it a pillar of a more relevant, efficient, holistic approach.?

To help you see what that means and what added value payments could bring to the online shopping experience your brand offers, I listed the top benefits of smart payment processing gateways and Twispay’s take on them.?

Payment processing gateways contribute to a smooth and seamless shopping experience

When configuring your e-commerce platform, you must ensure that payments are an integral part of the shopping experience and that the user journey is smooth and seamless. To do so, we advise our operators to blend the payment gateway into their e-commerce tech solution and customize their check-out panels, considering their services and branding.?

From a technical viewpoint, this raises questions for software developers, who must deal with installation, customization, and updates. Since each project has its specifics and needs its own adjustments, it is essential to ensure that the payment processor you work with will provide you with constant support and respond promptly to your requests.

The Twispay team includes dedicated professionals that handle technical requests and offer ongoing software development support. We work with stakeholders to create integrations for some of the most popular e-commerce platforms, as well as for those made from scratch.?

Payment processing gateways help e-commerce stores transform failed transactions into sales

E-commerce stores are constantly dealing with failed transactions. This happens for several reasons, the most common being: entering the wrong CVC code, incorrect card data, or insufficient funds. When the payment processor provides you with why the transaction is failing, you can take the necessary action to solve the issue.?

Twispay not only offers you information on why the payment hasn’t been fulfilled but can also help you contact your shoppers and automate emails inviting them to retry the payment. Thus, you significantly increase your chances of completing the sale.

Payment processing gateways deliver statistics that enable you to understand your audiences

At Twispay, we’ve worked with enough e-commerce shops to know that, in marketing, it is imperative to know your buyer, their preferences, and their purchasing habits. This is why our payment solution provides you with customer statistics, including their regions, the types of cards they use (personal cards versus corporate cards, debit cards versus credit cards, Visa versus Mastercard, etc.), or the number of transactions made with your e-shop. All this information can help you create customized campaigns to generate conversions for your brand.?

Modern payment solutions help online stores increase their sales?

The payment solutions provided by current financial institutions are secure, easy to implement, and highly competitive for the online stores that use them. When treated as an integral part of the consumer experience, they can help increase conversion rates and sales.

My advice to online store operators, whether they are just starting out or already experienced in the industry, is to study the market and experiment as much as possible to find the ideal gateway for their business. This is all the more possible as an online store can use an unlimited number of payment acceptance service providers, allowing it to test different platforms and functionalities.

At Twispay, we encourage stakeholders to try our payment gateway without committing to it. You can use it together with other processing tools, comparing features and results. If you are considering changing your payment processing company, there is no need to make a dramatic shift. You can add us to your list of payment gateways and increase volumes in time. What’s important is to do things at your own pace.