How to pay uob credit card online
Service for your customers: Have bills paid directly online with various payment methods
Online trading is growing steadily. Therefore, more and more companies are preparing to make their range of goods or services available on the Internet. With the increasing relocation of economic areas to the Internet, the processing of purchases is also experiencing constant change and further development. Most retailers prefer a checkout process that their customers use to make the claim online pay. The Internet now offers a wide range of payment options. Which online Payment options on the Internet are customer-friendly and at the same time advantageous for the retailer, you can find out here.
- What common payment options are there on the Internet?
- Pay online with WooCommerce?
- What is the Billomat Paylink?
Why are different payment options on the Internet important?
In the meantime, not only the years of experience of online retailers and their customers, but also various studies on the behavior of online purchases teach that the type of purchase process is one of the factors that determine willingness to buy.
Ease of purchasing decisions through simple online payment processing
Within the purchase process, payment processing forms the center of every purchase process. When paying online, the customer is faced with new decisions about the classic purchase, which can cause him to abort the process. The payment process in particular is a hurdle that should not be underestimated for the customer. This also has to be well prepared for the demands, expectations and possibilities of the customer.
Preferably with variety - payment options on the Internet
Paying online should be as easy as possible, especially for the customer. Because if the payment options offered are not suitable for the customer or if they do not enjoy their trust, then the purchase can still fail in the last step of the purchase process. Research has shown that well one third of purchases fail because the customer cannot or does not want to pay online with the payment method offered. The more payment methods are already offered to a new customer when they make their first purchase, the higher the probability that they will find a method of payment that is convenient for them. Experience suggests the need for providers of goods and services to provide their customers with the largest possible selection of different and common options for paying online.
Increase in sales through various payment options
Providers of goods and services on the Internet who offer their customers an uncomplicated and trustworthy service also in the processing of their purchase ensure that the customer completes the purchase process to the end. In this way, these providers ensure that interested customers do not jump off in the last step of the purchase process. In this way, your offer will find stable sales and you will benefit from an improvement in your sales. This makes the range of different payment options on the Internet one of the most effective Sales strategiesof online businesses.
Various payment options on the Internet ensure customer loyalty
Customers who have already successfully made purchases in an online shop or at a company on the Internet like to fall back on their good buying experience. They like to buy where they were not only satisfied with the goods, but also with the way the purchase was processed. This also included the method of payment selected at the time for the previous purchase. If the payment method has already worked well once or several times, then the customer will continue to shop at the same retailer in the future and rely on the same type of payment.
Therefore, well-functioning payment processing, among other factors, is crucial for ensuring that customers are overall satisfied with their purchase. Once the payment has been processed without any problems, the customer is already much more secure in the familiar system when they make a second purchase. Therefore, an extensive range of payment options on the Internet ensures that the company successfully attracts new customers.
What payment options are available to companies on the Internet?
The Internet market has developed rapidly over the past few decades. In addition, various payment providers have established themselves who provide the technical background for payment when shopping online. In addition to the simplicity in the design of the payment process, one of the main requirements for smooth payment on the Internet is above all security. This is in the interests of both the company and the customer. Providers of payment options on the Internet, who took these two criteria into account and continuously developed them, were able to establish themselves on the market.
To the common payment options on the Internet belong:
- Purchase on invoice
- Payment in advance
- Cash on delivery
- Payment by direct debit
- Credit card
- Instant bank transfer
- Amazon Payments
Purchase on account - the common type of purchase transaction
Buying on account is still the most popular option when paying online. Buying on account does not burden the customer with a purchase, but rather the supplier. With the purchase on account, the supplier is making an advance payment, while the customer becomes his debtor until he pays for the delivery.
Order online on account - the advantages
The advantages of this type of checkout lie primarily with the customer. Because he does not have to invest trust in his suppliers. He can check the goods before paying and, if he doesn't like them, simply send them back. He does not have to worry about getting the money he has already paid back. When customers order on account, they very rarely cancel the purchase process. The payment method not only speeds up the checkout process. When buying on account, the customer does not have to disclose any bank details or other sensitive data on the Internet.
Disadvantage - order online on account
The disadvantage of online shopping on account lies exclusively with the online provider. Because with the purchase on account goes into high risk of payment default hand in hand. If the company has sent its goods to a customer unwilling to pay, it has to go to great lengths to get the money or the goods back.
Payment in advance - the advance payment
The purchase process with prepayment is based on the same principle as the purchase on account. Only the preferential treatment is swapped. The customer receives the bank details of the online shop to which he transfers the invoice for his purchase. Only then does he receive his goods. With this type of payment, the supplier becomes the debtor to his customer until the customer receives his goods.
Advantage of paying in advance
The advantage of this payment method lies with the online retailer. He enjoys immediate liquidity even before his service is performed. That gives him security against payment default. Another advantage is that there are no fees for prepayment.
Disadvantage - what does prepayment mean for the customer?
Customers do not appreciate the prepayment method. You have to advance payment and wait to receive your goods after you have already paid. Since payment processing by the banks involved takes a few days, customers who have paid in advance have to wait the longest for their goods. Since fast shipping promotes a purchase decision, the Payment in advance a sensitive obstacle when shopping. In addition, the customer has to place a great deal of trust in the supplier, which is something that new customers need to earn.
But prepayment also carries a risk for the supplier. Because customers can decide differently after shopping and cancel the purchase by neglecting to pay. The company will not find out about the cancellation until it determines that the transfer has not been processed. This risk makes planning on the part of the company considerably more difficult.
payment by surname
Cash on delivery came from a time long before the Internet. The goods are sent to a customer who does not online pay must, but only paid out to the parcel carrier upon receipt at the front door. A fee is charged for cash on delivery, part of which goes to the supplier and a second part for the service of the shipping service provider. The payment by surname provides a payment option that minimizes the risk involved in the purchase process for both the retailer and the customer.
Advantages of paying by cash on delivery
The customer does not have to make any advance payments before receiving his goods. The goods go to the customer immediately after they have been ordered, as the supplier does not have to wait for payment to be received. The supplier bears no risk when shipping, as the customer only receives the goods if he pays.
Cash on delivery with disadvantages
The so-called cash on delivery fee is higher than the normal shipping costs. But this does not only have disadvantages for the customer alone. The retailer also has to pay a fee to the shipping service provider if the customer does not accept the goods. The customer must be personally at home when delivering cash on delivery items. Because he has to pay the supplier the cash on delivery fee in cash. This can be very cumbersome for the customer. The disclosure of the cash on delivery charges incurred during the ordering process also causes difficulties. These can often not be shown in detail in the online shop, as the cash on delivery fees can vary.
Pay online by direct debit
When paying by direct debit, the customer enters his bank details during the ordering process. With his entry he grants the supplier a direct debit authorization. Equipped with the authorization to debit the bank account, the supplier debits the required invoice amount from the customer's bank account. The debit will only take place after the order process has been completed.
Advantages of paying by direct debit
This payment method is very simple and straightforward. Once the bank details have been deposited with the seller, there is no need to enter the details the next time you shop. The dealer receives his money quickly and securely thanks to the direct debit authorization. With direct debit there are no costs for either side.
What does direct debit mean? - the disadvantages
Payment by direct debit is widespread, but it is not one of the most popular means of payment for customers. Because he has to enter his bank details on the Internet and rely on the retailer's data backup. This process also has some pitfalls for dealers. If the customer's account is insufficiently funded, the merchant cannot withdraw the money. In this case, the bank will automatically return the amount to the customer a few days later. This can lead to a payment default if the goods have already been shipped. In addition, bank charges arise in the event of a chargeback, which the supplier is left with. In the direct debit procedure, the customer can also cancel the booking despite sufficient funds. If the goods have already been sent while the money is being posted back, there will also be a payment default in this case.
Purchasing with a credit card
One of the most popular means of payment is the online pay, but also in the store, the credit card. Major credit cards include the Mastercard, Visacard or American Express. Payment processing by credit card requires the customer to enter the card number, the holder's name, the expiry date and the verification number. After the entry, the shop system automatically checks whether the data is correct and the credit card is valid.
Paying by credit card - advantages
The credit card payment method is not only recognized in Germany but also internationally. Online shops that also want to address customers abroad offer a payment option with credit cards that is widespread worldwide. Payment by credit card is automatic and does not cause any work for the online retailer. The credit card holder's liquidity is also checked at an early stage. The customer can only shop with a covered credit card. For customers, the credit card offers increased security when making their first purchase in an online shop that is unknown to them, as they can reverse their payment.
Disadvantages of the credit card
For online retailers, there are costs per transaction. For online shops with many small transactions, the costs can be noticeable. Since not every customer has a credit card, they are excluded from the option of shopping unless the online shop also provides other payment options. The security of credit cards is also not fully guaranteed. Credit card numbers are often stolen. Since the customer can easily reverse his payment, there is also an increased risk of default for the supplier.
Pay with PayPal
Paying with PayPal offers security for customers and retailers alike. To pay by PayPal, the customer needs his own PayPal account. This is linked to his bank account. The PayPal account controls the payment processes by debiting money from the bank account when a payment is made and transferring repayments to the bank account. Payment via PayPal now also works without your own PayPal account.
Pay online with PayPal - the advantages
Payment processing via PayPal is very easy. When paying, the customer must log in to his own PayPal account and confirm the payment. PayPal carries out the transactions very quickly. In this way, the dealer can determine the receipt of payment almost at the same time. Payment with PayPal does not require the customer to enter sensitive data. In addition, PayPal offers buyer protection. If there are problems with the goods, customers can contact the buyer protection and get their money back if necessary.
Paying with PayPal - the disadvantages
PayPal account holders are often targeted by criminals. They send fake emails asking for information. PayPal's data are not subject to the strict data protection requirements in Germany. In addition, PayPal charges online retailers fees for transactions processed.
Shopping with Sofort Überweisung
The Sofort Überweisung is a special form of payment in advance. The Sofort transfer is processed by the company Sofort GmbH. The invoice amount is quickly transferred via online banking. A PIN and TAN must be entered for payment processing.
Advantages of the Sofort Überweisung
The transaction is very quick and provides security for the customer's data. The retailer also benefits from fast payment processing, which also speeds up purchase processing and shipping.
Immediate transfer - the disadvantages
By disclosing bank details, third parties can gain insight into account details. The requirement to enter PIN and TAN, which belong to the customer's personal bank account, poses a risk to data security. It is not possible for customers to get their money back after an immediate transfer.
Pay online via Amazon Payments
Merchants on the Internet can provide their customers with Amazon Payments to pay online. This means that you can pay online via Amazon. Customers who shop at Amazon and trust the marketplace based on their experience have a known payment option with Amazon Payments. Amazon Payments uses the stored customer account at Amazon for payment.
Benefits of Amazon Payments
The trust that Amazon customers place in the global Internet marketplace can be used by online retailers for their own offerings by using Amazon Payments. Customers do not need to create additional accounts or enter any data when making a purchase. The customer's account will only be debited by Amazon Payments after it has been dispatched by the online shop.
Disadvantages of the payment option on the Internet
Amazon Payments is only available to customers who have an Amazon account. In addition, Amazon receives an insight into the customer's purchasing behavior through payment processing.
WooCommerce - payment option for WordPress sites
WooCommerce is an eCommerce plugin for WordPress that expands the possibilities of online shops created with WordPress. The plugin can be easily integrated into websites created with WordPress. In addition to numerous functions that serve to process online purchases, WooCommerce provides extensive Payment options on the Internet to disposal. The plugin supports all major credit cards, payment in advance, bank transfer and cash on delivery as well as PayPal and Amazon Payments.
Benefits of WooCommerce
In connection with WordPress, WooCommerce also provides an instrument that enables easy usability when creating an online shop. The plug-in is used very often and is widely used. This secures its existence and also its further technical development for companies that use it.
WooCommerce in Germany
WooCommerce is an American product that was developed and tailored to the American market with its legal rules. In Germany, different legal requirements apply to online trading than in the USA. Therefore, there may be warnings for companies that use the plugin. To counter this problem, WooCommerce Germanized was developed. The WooCommerce Germanized plugin was licensed under GPLv3 and is free of charge.
If you have a Billomat account, the WooCommerce plugin is free for you. So you can easily link your Billomat account to your online shop. Here you can find out more about the WooCommerce plugin.
Billomat Paylink - The easy way to the payment methods
To simplify payment processing, the accounting software from Billomat makes it possible for online shops to easily provide all common payment systems. As a user of the Billomat software, the online shop does not have to embed the various payment systems on its own page. With Billomat Payment, the seller can send his customer a Concardis payment link via the customer center. The Paylink directs the customer to a specially prepared payment page during the payment process.
There is a selection of all common payment methods from which he can choose his preferred payment method. In this way, the customer pays the claim from the online shop directly via the selection page. The Paylink from Billomat significantly simplifies the payment process for providers of goods and services on the Internet, as the individual payment systems do not have to be offered separately on the provider side. Rather, the customer is directed to a central page outside of the retailer's own shop system during the payment process in order to complete the purchase process.
Here you can find more information about Billomat Payment with Concardis.
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