Online payment solutions: Choosing the best option for your e-commerce business

Choosing the right online payment solution for your e-commerce site is crucial to providing a seamless experience for your customers and maximizing your sales. Here's what you need to consider.

What types of payment are available?

Offering several payment options is essential to attract the maximum number of customers. Here are the main options to consider:

• Credit card: Payment by credit card is still the most widely used form of payment worldwide.
• E-wallets: PayPal, Apple Pay, Google Pay are convenient and often preferred by mobile users.
• Bank transfer or SEPA direct debit: Ideal for large purchases or subscriptions.
• Instant transfer with Fintecture: A fast, secure way to transfer funds directly between bank accounts. This service is particularly advantageous for customers looking for an alternative to credit card payments, while offering an almost instantaneous and secure transaction.
• Payment in instalments (or payment in instalments): Increasingly popular, this option allows customers to pay for their purchases in instalments, usually free of charge, improving the affordability of expensive products or services. Split payment can be a very attractive solution for increasing your conversions, especially on higher-value products.
• Cryptocurrencies: Some platforms are starting to accept payments in Bitcoin and other cryptocurrencies.
• Payment by link or QR code Ideal for one-off online sales or events.

What are the costs associated with each solution?

Transaction fees vary according to the solution chosen:

• Stripe :
  • 1.5% + €0.25 for standard cards from the European Economic Area.
  • 2.5% + €0.25 for UK cards.
• PayPal :
  • 2.90% + fixed commission for all other commercial transactions.
  • 1.20% + fixed commission for payments made by card without using a PayPal account.
  • 0.60% + fixed commission for QR code transactions over €10.01, and 1.10% for those up to €10.00.
• Easytransac From 1.2% + €0.15 for payments in the euro zone. Degressive rates based on business volume.
• Mollie 2.90% + €0.25 for CB commercial cards. For EU payments, count €1.80 ‍+ €0.25.‍
• Smile&Pay Fee: 1.65% for European cards without subscription, or 0.65% with a monthly subscription from €35/month.

How to secure online payments?

Security is crucial to protecting your customers and your business. According to a report by L'internaute, here are some key figures concerning online fraud:

• 7.5 million: The number of fraudulent banking transactions, out of 28 billion carried out each year in France. This represents an estimated total cost of 1.2 billion euros per year.
• 139%: The increase in online account hacking compared to 2020, with the aim of penetrating email accounts to reset passwords and access other online accounts.
• 78%: The proportion of fraud due to phishing, mainly used to steal card numbers.
• 18%: The proportion of bank fraud due to stolen or lost bank cards used without the owner's consent.

These figures underline the importance of implementing secure payment solutions to avoid losses and boost customer confidence. Here are the essential steps to take to secure payments:

• PCI-DSS standards: Make sure the solution you choose complies with PCI-DSS (Payment Card Industry Data Security Standard) standards, which are stringent security requirements designed to protect users' sensitive information. Failure to comply with these standards exposes you to the risk of fraud and fines that can reach several hundred thousand euros.
• 3D Secure authentication: This security method, required by major banks, adds an extra level of verification to credit card payments, considerably reducing the risk of fraud.
• SSL certificate: An SSL (Secure Sockets Layer) certificate encrypts data exchanged between your site and your users, guaranteeing the confidentiality of customers' personal and banking information.

By choosing a secure payment solution, you minimize not only the risk of fraud, but also the loss of revenue. Adopting appropriate security practices can help you avoid significant losses and boost your customers' confidence.

How do I manage reimbursements and disputes?

Most platforms, such as Easytransac and Stripe offer tools to manage refunds quickly. You can usually refund a transaction in just a few clicks, but it's important to clearly define the refund conditions on your site to avoid misunderstandings.

For example, PayPal does not refund transaction fees on refunds, so you will lose the fees paid on the original transaction. If you paid 2.90% + fixed commission for a transaction and you refund a customer, PayPal will not refund these fees.

How do I set up a recurring payment solution?

Recurring payments are essential for companies offering subscriptions or services with periodic billing. With a recurring payment solution, you can automate debits from your customers' credit cards or bank accounts at the chosen frequency (monthly, quarterly, annually), reducing the administrative burden and improving cash flow.

The benefits of recurring payments :

• Simplified financial management: Recurring payments guarantee stable, predictable income for your business, making cash management easier.
• Improved customer experience: Customers don't need to remember to renew their subscription. Everything is done automatically, making the experience smoother.
• Reduced abandonment: Customers are less likely to cancel a service if they don't have to manually renew their subscription.

How does it work?

‍Witha recurring payment solution likeEasytransac's, you can set up subscription plans tailored to your needs and those of your customers. Whether for monthly or annual services, you can customize the frequency and amount of payments. Easytransac supports full automation of the process, reducing errors and oversights.

For more details on how to set up a recurring payment with Easytransac, see our page dedicated to subscriptions and recurring payments.

How can I automate direct debits?

Direct debits can be set up on your online payment solution. Most modern platforms, including Easytransac and Stripe, offer tools to automate this task, reducing the administrative burden and increasing customer loyalty.

How can I accept online payments on my website?

Accepting online payments on your website requires a reliable, easy-to-integrate payment solution. The choice of platform depends on a number of factors, including compatibility with your site and the specific features you require. Here are the key points to consider:

• Modules for CMS (Content Management System): If you use an e-commerce platform such as WooCommerce, Shopify, PrestaShop, or Magento, choose a payment solution that offers preconfigured modules or plugins. These modules allow you to easily integrate the payment solution without requiring advanced technical skills.
• Payment Gateway (Payment Gateway): A payment gateway is essential for processing online transactions. The solution you choose must make it easy to connect your website to secure payment networks.
• Payment API: If you have a customized site or would like greater flexibility, you can opt for integration via API. This enables complete transaction management, recurring subscriptions and much more.
• Security and compliance: It's crucial to choose a solution that complies with security standards such as PCI-DSS, and offers features such as 3D Secure authentication to reduce the risk of fraud. A good payment gateway will ensure that all these requirements are met, so that your customers can make their payments with complete confidence.

What technical developments are required?

Setting up the payment solution may require a little development, particularly to integrate the API and configure the payment pages. Make sure your technical team or service provider is ready to carry out these integrations smoothly and securely.

Conclusion

Implementing a secure and diversified online payment solution is essential for your e-commerce site. By offering your customers payment options adapted to their needs, and guaranteeing the security of their transactions, you reinforce their confidence and improve the user experience.

With online fraud on the rise, it's imperative to take rigorous security measures to protect both your customers and your business. Make sure your payment tools meet the highest security standards and offer solutions adapted to different payment types.

If you have any projects or questions, please don't hesitate to contact our dedicated team on this page.