New payment methods: by email or SMS, pay by link

Diego Katzman

By Diego Katzman. Follow: Linkedin Facebook Twitter
Published 15/09/2020

Online payment methods are a key element for companies, especially for eCommerces. Offering secure systems will give users greater confidence when making a purchase and meeting their needs, ensuring a good experience and greater security. For this reason, e-commerce is increasingly committed to offering different payment methods integrated in gateways, taking into account the origin of consumers. 

For example, in China it is common to use payment systems offered by WeChat Pay and Alipay, so if your eCommerce often receives Chinese consumers, it is essential to have these methods integrated into your online payment gateway.

Are you ready to discover new systems? Join us in this post and don't miss them.

 

New online payment methods, did you know them?

  • Payment by email.

Email payments have become one of the easiest ways to receive payments without having a website. A great example is PayPal to collect money from your customers easily and quickly. This way, you can make a transfer between individuals or companies regardless of the country or currency used. To make a payment by email, request money, or receive it online, you only need an email address.

  • Payment by SMS.

Payments via SMS are a solution that was born in order to monetise digital services and contents. With this payment method, users are charged for the cost of sending or receiving a message and it is one of the most commonly used methods for micropayments.

  • Payments per link.

Pay By Link are payment links that you can share by email, SMS, messaging, social networks (Facebook, Twitter, Instagram, Pinterest) or any other communication platform. They are perfect for recovering abandoned shopping carts.

  • Payback

It is the program with which you can accumulate points and use them, accumulate them and make purchases in different places without it costing you anything. When users show their payback wallet, they add up points. Each participating brand will have different offers and points, but it is not necessary to have different cards. One card will be enough to participate with all the brands that offer points.

  • Selfie Pay

Paying for your purchase with a selfie is possibly one of the greatest advances in payment systems of all time. CaixaBank, Payment Innovation Hub and Nestlé Market took the step towards the first payment system with facial recognition in a shop in Spain, allowing you to make purchases only with your face. You don't even need a physical means of payment, such as a card or cash. Users simply download the Face To Pay Nestlé Market app and register their personal details, card and face image.

  • Voice recognition.

Acceptance of payments using Interactive Voice Response (IVR). This way, customers of any eCommerce that implements this system in its payment gateway can be redirected or go directly to an automated solution, saving costs and increasing their trust and security in the business.

  • Payment processing without special developments or integrations.

Some systems allow you to collect order information through forms or phone calls. Data can be collected through a secure IVR or by sending an email with a link that redirects customers to a secure payment page, where the payment is made using the method chosen by the user.

 

Integrate your customers' favourite methods into a payment gateway

By integrating different options that add value to your users' shopping experience with your eCommerce, you increase their confidence in the business. The most satisfied customers are those who find the payment method that best suits their needs. They must be familiar and convinced that their money is safe. Are you bringing simplicity, confidence and clarity to the payment methods you offer?

Payment gateways are part of the success of your business. We all use them when we make a purchase online and they bring many advantages to the digital shops that implement them:

  • They increase the conversion rate.
  • They ensure confidentiality and data protection.
  • They facilitate the connection with consumers from anywhere in the world. There are no geographical limitations.
  • They can offer online payments in any currency.
  • They allow you to get collections in the same integrated system.
  • They increase your customers' confidence by offering their local payment methods.
  • Thanks to the dashboard offered by some payment gateways, eCommerces can track all economic transactions online.
  • Maximum availability for the user. There are no time limits for making a purchase.

Although payment gateways are improved over time and the with the arrival of new technological and IT developments, their advantages are undeniable for both the consumer and the merchant.

 

Conclusions about payment gateways

It is a service that is implemented in online shops in order to receive payments. Depending on the type of gateway you implement, your customers will have a better or worse shopping experience. Therefore, it is important to think about them, their objectives, problems and needs when choosing our system. The main points that affect the user experience, and the reasons why eCommerces experience the abandonment of shopping carts are:

  • Lack of a common interface and unified login to avoid being directed to an external page when formalising payment.
  • Presence of a web page that takes too long to load.
  • Confusing prices and unexpected costs that break with customer expectations, increasing their distrust of eCommerce
  • Few alternatives in payment methods.

These drawbacks are a perfect indicator to know what is failing in our sales process, as well as correcting errors with effective solutions. There are many payment methods on the market, you just need to know which ones are the most appropriate according to the needs of your business and your customers.

Don't be afraid to innovate, the best is yet to come!

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Practical guide: all you need to know about payments gateways

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