Payment Gateway and It’s Working

Online payments is the fast and convenient process for users and settle their payments. This type of payment can be reached globally with the help of internet and everyone can sell or buy around the world.

It is difficult to verify online transactions and are mostly anonymous if the buyers are who they say they are. Ecommerce secured payment avoid such type of problems to happen in the future. Merchants need to reduce the online fraud and prevent the security breach of cards or personal data by proactive approach. The best way of preventing is to by using payment gateway.

 

What is Payment Gateway?

Payment gateway is an Ecommerce application that authorizes online payments. It is used by online merchants, E-businesses and bricks and mortar businesses. It connects seamlessly and securely to Ecommerce applications or in-house payment application. It is used to process credit Cards or online banking.

Payment gateway is a third party in between the customers and the merchants as it collects the money from the customers and transfers it to the merchant’s bank account securely. It is virtual equivalent of a physical point of sale terminal that can be seen in many retail outlets.

How Payment Gateway Works?

An important role is played by the Payment gateway that fulfills Ecommerce transaction processing and authorizing the payment or transactions that are been done in between customers and merchants. Sensitive information and payment details such as credit card details are encrypted by the payment gateways. It has to guarantee that the information is passed securely in between customer and merchant. The following are the steps that on how a payment gateway works.

Step1: An order is placed by the customer on the website that they visit by pressing the submit order, checkout cart or any equivalent button.

Step2: Information is transferred by the merchant securely to the payment gateway. Thereafter the transaction is been routed the issuing bank by the 3D secure page and request transaction authentication.

Step3: Once the authentication process is verified and successful then the transaction is been authorized or declined (depending on the available amount in the bank) by issuing bank or the card provider.

 

Step4: Payment gateway sends a message to the merchant

Step5: The bank or card provider settles the money with the payment gateway and then the payment gateway settles the money with the merchant. 

 There are three important things to do while using a payment gateway provider when a customer wants to make a purchase from merchant’s website. The three important things include authorization, settling and reporting. It all can be done by the best  magento development company uk.

Merchants are also provided with benefits such as virtual terminal by payment gateway providers that allow entering transactions manually that are received via other methods besides merchant’s website. It can out the control of business acceptance in your hands and raising the power to grow your business.

5 Ways to Improve E-commerce Companies Revenue

E-commerce websites can be overwhelming to manage but the effective information architecture, SEO and content marketing strategies a huge difference can be seen. Simple strategies below mentioned which are not complicated, difficult or expensive.

1. Successful e-commerce companies use search & analytics data to inform their strategy

E-commerce sites should serve its customer’s needs and built with the search data. A successful E-commerce website is gained by doing research before formulating a customer-centric SEO and content strategy. They research for people who are searching on Google and studying the search items, phrases and keywords.

Keyword search volumes can get a sense on products with highest and lowest demand. It is easier to predict financial outcomes with the combination of search data with sales figures and conversion rate data from their web analytics.

Search phrases helps to customers to estimate total market share on Google. Tools measuring conversation percentages and market share by category and sub-category help marketers to benchmark against their competitors. A realistic picture over company standards can be obtained by combining historical sales figures and profit margins in popular categories.

Data plays a crucial role in successful E-commerce companies. Strategists only go by facts and figures. Experts and consultants hired to research and their value is assessed by the value they bring by way of added sales and revenues.

2. Their information architecture and website structure is customer-focused.

A successful E-commerce company website doesn’t mirror its organizational structure but focus on customer’s needs.

Smart marketers identify FAQ’s and solutions that customer’s searching for rather than using search data from Google to know the user intent. Prompt and clear advice gives a great experience for customer’s and make them feel understood they are understood and cared for. Impress your customer’s by how well the website deals with their concerns and queries.

E-commerce sites trawl available search data and prospect customer’s questions, needs, problems and important issues to provide a rich online experience. An effective and easy to navigate customer oriented information architecture can be build by the help of data.

3. Their content strategy is based on search data.

Buying process involves search engines and content plays a key role at decision making stage in targeting and penetrating markets. Companies are now focusing more on fresh content and hiring content writers.

The best investment can be keyword research and analysis based on consumer data. Business leaders focus on content that have impact over their customers and help in increasing their sales or helping to build long term relationships.

It’s more effective when SEO and content writers work together and involve everyone in right planning from implementation stage.

4. They solve critical problems early in the planning phase.

During production or post production top performing magento development company UK business leaders aren’t in firefighting mode. They never rush into website planning unless they get inputs from all relevant stakeholders including SEO consultant.

Developing a customer-centric e-commerce website begins with comprehensive keyword research. It can be more effective than phone calls or email surveys as people never let you know what’s really bothering them. You can get precious insights by observing customer’s online behavior and search data will help unfiltered thoughts and track their behavior patterns.

5. They follow SEO best practices for e-commerce websites.

It is common about E-commerce SEO. It is a specialized service where unique challenges of E-commerce websites tactics are tailored.

Successful organizations plan before they start and never find themselves in nightmare as they plan in advance. High performers issue proper planning and preparation instructions to developers resulting in better website coding.

In summary

Search engines have become an integral part of customer’s lives. Content and SEO must be integrated to drive better results and achieving business goals. The above steps help in setting apart successful magento development company UK from their less successful competitors.

If you get everything right and build productive teams with content production, strategy and marketing you can get a winning synergy and have done a great job for future success of your business.

B2B Digital Commerce Leads to Higher Customer Satisfaction

Ecommerce is core to B2B strategy. It helps in increasing revenue, customer satisfaction and loyalty, companies see the opportunity to achieve more growth through digital channels.

Only 26% of B2B company’s fully implemented best practices.

An unveiling new research “What It Takes to Be a Leader in B2B Ecommerce,” providing practical steps to elevate your operations from good to great.

B2B Ecommerce websites generate higher customer satisfaction, enhance competitive positioning, and increase revenue growth. Providing a framework to access your digital capabilities and guidance to build and maintain best practices to streamline purchasing, enhance merchandising and empowering your customers with self-service capabilities.

What It Takes To Be A Leader In B2b Ecommerce

B2B Ecommerce decision makers and executives in March 2018 found:

To drive customer satisfaction, revenue growth, and productivity goals B2B companies lean heavily on Ecommerce. Almost half of the participants say B2B Ecommerce efforts specifically help them win, serve and retain customers. 80% of companies choose B2B magento development company uk Ecommerce technologies to improve their overall customer satisfaction and revenue.

Businesses that are looking to lead the competition choose reliable, flexible and complete technology solutions but may struggle to maximize those investments. High performance, reliability, solution completeness, and the ability to support both B2B and B2C requirements are top criteria when selecting B2B Ecommerce technology options.

Customer satisfaction and retention correlates with organizational and leadership maturity of Ecommerce. 26% of companies have complete B2B Ecommerce operations. Having the best practices with a dedicated Ecommerce team to achieve cross functional alignment on the company's Ecommerce strategy. It helps to improve their competitive advantage and ultimately driving revenue.

No more than 50% of companies have adopted best practice and just 26% of companies have fully adopted practices.

Magento Can Help

magentodevelopment company uk can enable B2C and B2B companies to achieve their digital business aspirations. Our open platform, supported by a global ecosystem, gives the flexibility and scalability to create exceptional experiences such as management, and business intelligence capabilities. Our practical B2B insights and strategies to enable merchants to execute initiatives across their organization.

10 Ecommerce Trends In 2018

The sales of Ecommerce across the globe expected to increase 246.15% by 2021 from 13 trillion to 4.5 trillion in 2021.

Now-a-days, stores can’t compete without offering Ecommerce options. Digital commerce impacts on 56% of in-store purchases. You might lose half of your potential revenue if you don’t reach your customers online.

With rapid growth of Ecommerce, comes rapid changes and posting images of your site and hope your ideal customers will find them. To help you reap the benefits of Ecommerce, we’ve chosen some top 10 trends how people buy and sell online.

1. Shopping Natively

In an experiment it is found that native video content favored 160x more than non-native content. There are some great visual platforms being used by millions of people like Instagram and Pinterest. So, offer the option of purchasing your products from within those apps.

2. Augmented Reality and Virtual Reality

Augmented reality and virtual reality are gaining some serious traction in 2018 and will become standard for companies to offer AR and VR options. As Ecommerce grows consumers buy only those products which have the option of visually testing before take make a purchase.

3. Automation and Chatbots for Online Ordering

With over 1.3 billion people on Facebook helps to take advantage of chatbots for marketing, customer service and sales. Ecommerce can take you a step further.

4. Voice Search Compatabilities

As voice activated devices grow in popularity and become the preferred search, 40% millenials are already using voice search before making an online purchase. It’s important to optimize your business for voice search or you could lose consumers who choose to shop through voice activated devices.

Voice search is 3x more likely to be local, it’s also important to ensure your business listing is up to date on Google.

5. Mobile Primary, Desktop Secondary

62% online purchases were made by the smartphones in the last six months. Create an Ecommerce website that’s optimized for mobile as the mobile usage grows.

Mobiles soon will become the preferred payment method for Ecommerce transactions because of its  Fingerprint, facial recognition and one click payments which can simplify mobile payments. Estimation that mobile Ecommerce traffic reach 70% by the end of the year.

6. ROPO (“Research Online, Purchase Offline”)

It can be tricky to track digital efforts translate to offline sales. ROPO (“research online, purchase offline”) will become more advanced and reliable in coming times. It is a combination of social media, mobile tracking/geolocation, mobile payments, in-store inventory, analytics tools, CRM systems, and more, to figure out which ads and site pages led to the in-store purchases.

By knowing the most efficient digital ads contributing to sales, magento ecommerce development company in uk businesses can create higher conversation and targeted campaigns.                                                                                                           

7. Machine Learning and AI

Machine learning and AI will come across you every day. Ecommerce will soon see benefits using machine learning and algorithms to uncover the content they should deliver to which audience. In future machine learning and AI divide the content and fed to consumers what they’re most interested in.

8. Image Search

As Ecommerce transitions to mobile, companies will begin offering visual search for products by personal photos or photos found online. An estimation of 50% of overall searches will be through image and voice search by 2020.

Image search help you find similar products at a cheaper price online, it could drive consumers to shop Image search functions have been successfully implemented by a few Ecommerce businesses into their online platforms.

9. High-Quality Product Videos

Consumers either online or in store have the same questions about a product’s functionality and design. To compete in magento ecommerce developmentcompany in uk you need to answer all their questions digitally and the best way to do is through video.

The best way to sell your product is to have a high quality video addressing your product design and function. It is easy to you for appealing consumer’s emotions, persuading them more convincingly through video than through text.

10. Same-Day or Next-Day Delivery

Big name Ecommerce sites offering same day delivery will win out the majority of consumers as their needs are met fast. People will become comfortable as a norm paying extra for same day delivery. Consumers turn to competitors who will deliver the same day or the next day delivery.