Ecommerce Website Development: How To Overcome Challenges in Ecommerce Payments

Ecommerce Website Development: How To Overcome Challenges in Ecommerce Payments

The ecommerce global payment industry will grow at 16.42% CAGR by 2020. However, there is still a certain section of people who abandon the website frequently. It is mostly during the final check out process, when users leave the website. While most of the people think that it’s the complex registration process which forces them to do so, but there are other challenges too. As an ecommerce website development company, we bring forward to you the challenges in ecommerce payment and how to overcome them.

Challenge: Transactional Frauds And Additional Charges

Many times, while shopping online, customers often get the message ‘card not present.’ This is rising day by day and becomes an embarrassing situation for the customer. On the other hand, chargebacks also happen due to closed merchant accounts.

How To Overcome It?

Use certified Level 1 PCC DSS payment processor to keep fraud at bay. In order to reduce chargebacks, suggest the customer to read the KYC documents. You can also use merchant accessibility and reduce the chargebacks.

Challenge: Risky Cross-Border Transactions

Sometimes cross-border transactions can be a risky affair. The national banking infrastructure doesn’t allow you to make cross-border payments in an independent manner. Though it is a cost-effective measure, but in the long-run it can be harmful.

How To Overcome It?

Use updated transnational systems to reduce dependency on other networks. Manage credit risks and liquidity more effectively with payment systems. Outsource processing efficiency if you face any problems in payment.

Challenge: Maintaining Card Security

Every merchant, whether retailers or wholesellers need to comply with the PCI DSS certification standards. They must accept both debit as well as credit cards. There are many security areas where merchant, as well as processors, need to focus.How To Overcome It?

How To Overcome It?Choose either PCI DSS Level 1 certification or a PSP-hosted payment page to give maximum security to your user’s card. Once customers get the faith that the transaction in the website is safe and secure, they will come back to your website again and again.

Choose either PCI DSS Level 1 certification or a PSP-hosted payment page to give maximum security to your user’s card. Once customers get the faith that the transaction in the website is safe and secure, they will come back to your website again and again.

Challenge: Adjusting Payment Methods

All the ecommerce companies are accepting global payment methods. The popularity of e-wallets, card payment system and mobile payment is increasing day by day. Multi-currency and cross-border transactions often pose as a threat to the security of the ecommerce website.

How To Overcome It?

Choose such a payment service provider, which will help you to design a great infrastructure facilitating the payment system. Either credit the merchant account in the home currency or collect the payment in another currency.

These challenges are quite common. Use these strategies to get an instant solution to these challenges. Customers always look for easier ways, once they are done with online shopping. As a leading ecommerce website development company, we can offer instant solutions to your problems. Just send us an email at contacts@unifiedinfotech.net

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