There are multiple technologies that have been developed in the recent past to aid in streamlining payments for businesses. One of these ideal solutions is mobile payment, which provides small and medium-sized companies to process customer payments with greater ease. Dalberry has developed this type of technology known as online payment gateway.
Basically, this is a platform that integrates your business payment systems with banking institutions without any onsite hardware set-up. Here are the benefits of using this type of mobile payment solution over alternatives for your business.
Low Set-Up Cost
The main challenge facing small and medium sized businesses when setting up a payment method is the cost. There are obvious costs such as purchase of a point of sale system, setting up and other related expenses. In addition, the company must ensure that the set-up is PCI standards, and this can be costly. With online payment gateway, the initial costs are low because the payment system is already set up. The payment platform is hosted by the developer, so it is their responsibility to ensure that the PCI standards are followed. Moreover, this is a mobile payment method; you can process the transactions through your desktop or mobile device.
Fast Implementation
When upgrading your payment solution, it is important to ensure that it can be implemented fast. Delays in the process will cause your business to incur extra charge, which in turn affect the profit margins. The online payment gateway is perfect with regard to this aspect because you can integrate your pre-existing payment set-up with the new system. Basically, Dalberry Technologies direct API integration to businesses that have their own program. If your business was not already handling online payments, you can use the hosted page which is highly user-friendly.
Payment Security
The security of the customer payment data is paramount in any business. This will build consumer trust in your company and prevent cases of identity and financial fraud. With online payment gateway, you will get good security without extra charges. All transactions are routed securely through the Dalberry servers. These are secured against unauthorised access and protected against potential hacking. Moreover, the payment system complies with the Payment Card Industry standards. This means that you can rest easy, knowing that clients are not at risk of fraud.
Real-Time Reporting
Mobile payment systems are ideal because they offer synchronised real-time reporting on transactions. As a business owner, you should understand the value and importance of having current and actionable data from your operations. This information can help in exponentially improving and growing. For example, the data can help you analyse the customer behaviours and their interests. If you know the frequency of goods purchase, the amount they spend and preferred payment methods, you can create a campaign to target new and current clients more appropriately.
Payment Method Flexibility
There are hundreds of payment methods that are available for consumer to utilize when conducting their transactions. Unfortunately, it is not easy for a growing business to cater to all these needs since the costs can be exponential. You can resolve this challenge by using the online payment gateway. As implied, this is a pathway or platform that it designed to link businesses with banking institutions. Therefore, there are numerous options that your clients can choose to handle their payments when checking out their purchases. With this system, they can pay using diverse local and even international methods. Consequently, your business will grow.
Data Storage
The Dalberry mobile payment solution provides flexible payment solutions with regard to customer data storage. If you are using the API integration option, you can have the payment data routed through your servers. This is a convenient choice for larger businesses that prefer to have the card and online payment information on their own servers. On the other hand, your business is not obligated to store and access payment data by the online payment gateway. This is a favourable choice for younger companies because card data storage requires more security in order to comply with the PCI standards.
A good mobile payment solution like the online payment gateway by Dalberry can elevate your business. It will improve your convenience with regard to payment management, save your business money on set-up and even give you better insight on customer shopping trends and how you can benefit from the behaviours.
Written By: Mark Holland
I love tech and gaming, and am always looking for the 'next big thing'...