If you are a business owner, there is always the possibility that your payment gateway may not be meeting all of your needs. This article will highlight some of the most common reasons to change a payment gateway and provide information on how to do so.
- The first reason for changing a payment gateway is that it was previously linked to an account that has since been closed. When this happens, the merchant may be unable to process transactions until they have changed their payment gateway. …
An API is the connection between a computer engineer and the application they create. It acts as the “middleman” accepts messages, passes them on as requests and then returns data to the message sender. A user could ask the middleman to return information, such as a list of customer names. Alternatively the user could send information to the middleman, for example when creating a new subscription for a customer.
Know that you know that an API works, here are some tips that will help you choose the right API for your business:
One of the most important lessons following the COVID-19 crisis is probably that the world is becoming more digitally connected and that it does so at an extremely fast pace. From a regulatory point of view, policymakers are challenged to ensure that the policies they develop fit with this transition and that they encourage innovation in a fair and sustainable manner. This is even more true for the payments market, which has, over the past few years, undergone rapid change, driven by technological developments, consumer demand, and regulation.
The European institutions have played an important role in developing this market…
Fintech’s Accelerated growth during the pandemic.
The fintech market has continued to help expand access to financial services during the COVID-19 pandemic — specially in emerging markets — with growth in digital financial services except lending, according to a joint study by the World Bank, the Cambridge Centre for Alternative Finance at the University of Cambridge’s Judge Business School, and World Economic Forum.
Access to affordable financial services has been critical for poverty reduction and economic growth. For poor people, especially women, access to and use of basic financial services can raise incomes, increase resilience, and improve their lives. …
A payment gateway is a form of software that connects a businesses payment processing system to the banking system and is integral in the process that allows a business to take credit card payments from its customers.
Whether you use a shopping cart type system like Woocommerce, a virtual terminal or a form payment system like Wufoo you’ll still need a payment gateway as this is what allows your system to communicate with your acquiring bank.
In this article, we’re going to look at payment gateways and identify where they sit in the payment ecosystem so that you can understand…
It’s not surprising that the COVID-19 crisis has profoundly changed our behaviour as consumers. We have switched to shopping online, some of us started saving up more or looking for better offers, some of us stayed with favorite brands and some, unfortunately had to find other more affordable ones. A recent report by McKinsey identified five customer segments driven by optimism, health, and financial concerns, each of relatively similar size. Let’s have a closer look!
😃 Affluent and unaffected: These consumers express general optimism about the future (~20% higher than the overall US consumer population), skew male (60%), and make…
Subscription business models are growing extremely fast! And it is not surprising, as these business models have many benefits, for example, predictable revenue, you can earn more through up- and cross-selling, higher customer retention, etc. What stats do we have nowadays and what can we expect from subscription business models in the foreseeable future? Let’s have a closer look at some numbers!
And the numbers are very promising, as by 2022 subscription revenue is forecasted to grow by $242.9B worldwide (in Europe — $57.8B). For comparison, in 2018 it was $151.7B globally (in Europe — $37.4B). …
What can we expect from ecommerce payments in the foreseeable future? Recent research shows that it will be largely shaped by four key developing trends. Let’s check out what they are and how to catch up with the new trends.
Mobile Payments and Digital Wallets
Payment via mobile devices, including wearables, is rapidly increasing worldwide. There are three primary types of mobile payments in the market today:
A new report, The state of European checkouts in 2020, offers a detailed review of the top 450 e-commerce websites in the UK, France, Germany, the Netherlands, Spain, Italy, and Sweden, uncovering widespread checkout errors, causing potential customers unnecessary frustration, and costing businesses significant lost revenue.
The research found that some of the most common errors include:
- Allowing shoppers to submit transactions with incorrect card details
- Failing to warn shoppers when out of date expiry information is entered
- Not providing a numerical keypad for entering card numbers on mobile
At a time when increasing your addressable market…
Subscription based business models are very popular among our clients and eCommerce merchants in general. Due to this, we’ve decided that the following information can be useful for you and will help you increase your sales immensely!
Recent studies show that satisfied subscribers are more likely to purchase bundled services, spend more annually and they are less likely to cancel their subscriptions. Two key steps in consumers’ journey can significantly affect their long-term satisfaction with subscription merchants; enrollment and ongoing use.
Highly satisfied subscribers are a boon to merchants for several reasons. They spent an average of $471.13 on subscription…
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