In recent years, Malaysia has seen a huge surge in the field of online shopping. This has equally impacted the payment modes as well.
People now prefer doing checkout via online payment options rather than traditional cash ones.
And if you’re an e-commerce business owner and don’t offer an online checkout option, this will certainly be going to impact your business growth.
So, first thing first, as an online business owner, your top priority should be integrating an eCommerce Payment Gateway into your store.
And do you know what, apart from enabling you to accept online payments, it also offers other benefits as well.
In the upcoming sections, we will look at some of the major benefits of integrating an online payment gateway.
Foremost, have a sneak peek at this fintech.
What is an eCommerce Payment Gateway?
eCommerce payment gateway…the name is pretty self-explanatory. Having one integrated into your online store enables you to accept payment from various channels.
Be it credit or debit cards, e-wallets, or other channels, the best ones got you covered.
Basically, what they do is, they read and transfer the sensitive payment information from the customer to the merchant’s bank. This enables the merchant to receive payments.
Also, during these communications, payment gateways follow TLS and SSL security protocols.
That’s all about the techy jargons about payment gateways.
Now, let’s have a look at what all comes with the best eCommerce payment gateway.
What are the Benefits of eCommerce Payment Gateways?
Payment gateways are an integral part of an online business. Their fast, easy, and secure checkout options not only make checkout hassle-free but also boosts conversions as well.
Also, apart from these obvious ones, there are other benefits as well.
Here are some of the major benefits of an eCommerce payment gateway to your business.
#1. You Can Get an Edge Over Your Competitors
eCommerce is tough and the competition is increasing with every passing day. More and more online stores are coming into existence.
However, most of them lack one single and most important feature…they don’t come with an online payment option.
And chances are you may also don’t have one.
Since people now prefer paying online rather than via cash option, not offering this option can severely impact your business.
#2. They Keep Transactions Fast and Secure
The other major benefit of having an eCommerce payment gateway is that you can offer your customer a faster checkout experience.
It’s seen that businesses that offer a quick checkout option have a higher conversion rate than those that don’t.
And that’s true…you may yourself don’t like waiting for hours while making payments.
However, with payment gateways like Mobi, you can offer a faster transaction experience with added security.
#3. Enhances Cash Flow
Maintaining a healthy cash flow is important for any business. It not only helps you to meet your current financial needs but also enables you to plan for the future.
And running a business without having an adequate cash flow can severely impact your business growth.
With the best payment gateways in Malaysia, you can now have your earned money in a matter of days. Gone are the days when you have to wait for weeks.
#4. Comes with Minimum Setup Cost
If you’re also thinking that setting up an eCommerce payment gateway can be costly, then you’re wrong.
It’s not true at all.
With best payment gateways are affordable. However, they do charge a small transaction fee for every transaction. But don’t worry, they are worth it.
#5. Can Prevent You from Frauds
Online frauds are the worst thing that a business can face. But with the most secure eCommerce payment gateway, you can certainly don’t have to worry about these.
The best payment gateway in Malaysia comes with fraud protection tools and even are PCI DSS complement and follows the SSL security layer.
Having all these surely reduced any chances of fraud.
So that was all the benefit of integrating an eCommerce payment gateway. Let’s now end this blog with a verdict on it.
Conclusion
eCommerce payment gateways are one of the most crucial parts of an online business. Having one installed enables your customers to pay in their preferred option.
This, eventually, will help in boosting conversions which, in a long run, boost business growth.
Go with Mobi, the Easiest Payment Gateway to Setup, if you’re also looking for one for your business.
Having severed more than thousands of business owners and merchants, it can be, without a doubt, the one you needed.
Also, what makes it even better is its lowest free…it is considered as the lowest fee e-commerce payment gateway.
Sign up today for Mobi to get to know more about it.