Making online payments have become an integral part of our lives. We are becoming aware of multiple methods of making payment online such as credit and debit card payment transactions online payments have become a part and parcel of our daily lives. We are transacting online not only through debit or credit cards but also has other option such as UPI, net banking, and wallets as well. Making a payment online option needs to be essential for e-commerce platforms. Since it would be helpful for them to accept payments through different customers. And the service provider can provide you with this facility by integrating it with a payment gateway. If you are looking forward to set-up an e-commerce business then you will require a merchant account that will allow you to accept payments from the customer. We (PayCly) are the single leading PSP provider that will allow you to have International Payment Gateway services for our merchants who are looking to have offshore services for their customers so that they can accept payments through international customers.
A gateway enables merchants to have direct payments or credit card processing using safe and secure internet connections. It is an e-commerce service that authorizes, verifies, and accepts payments. It serves as a bridge that connects your bank account to the platform where you wish to receive payments. It enables you to have online payments through different payment modes such as credit card, debit card, UPI, net banking, and other payment options that are available these days. It plays a major role in securing payments between a merchant and a customer. It also provides authorization from the issuer bank and facilitates online transactions.
We can easily understand it through an example, suppose you have decided to buy your favorite item such as T-shirt, from an e-commerce website, now you wish to make payment for your the product so a gateway helps you in the process by letting you transfer your money to the e-commerce website. PayCly gets you the best Global Payment Gateway Providers that will allow you to have smooth and flexible payment transactions for your business.
Why use global payments?
Apart from making global payments you are also allowed to have many other advantages with global payment mode. Here are some of the attributes that you will most likely to read about.
∙ It allows you to have credit card payments on your site with a fully integrated checkout experience.
∙ Accept payment with different credit or debit card system such as Visa, MasterCard, American Express, Diners Club, etc.
∙ You will get authorize charges only, and you will also be able to settle funds immediately.
∙ It enables customers to save their credit card for future checkouts using Global Payments Card Storage.
∙ Allows address verification check on customers’ billing addresses
∙ Allows you to have 3D secure transaction support for different credit or debit card.
∙ Provide full strength to the e-commerce business.
Trending Change in Global transactions for the year 2020
With the events unfolding in 2020 such as Covid-19 the current pandemic situation, the demand for global payments has significantly increased in the present scenario. The current pandemic situation and its adverse effect triggered the government to take measures to protect citizens and the rapid change in consumer behavior, these two parameters have hugely impacted the way businesses used to operate. And its impact is not only limited to one particular segment but it has gripped every sphere of the business be it a large scale industry or small scale industry. If we estimate the global payment revenue for this year, it is estimated that it has declined in the first six months of the year as it is compared with the same period in 2019. Experts in this sector are expecting to recover the revenue in the second half of 2020; it would reach 7 percent lower by the end of the year what it has already achieved in 2019. In the past few years, the global payment with high risk merchant account revenue had increased by 7 percent annually, which suggests that this crisis has left the revenue to 11 to 13 percent and it is below as compared with the pre-pandemic revenue projection. With the current impact of COVID-19 on global payments, we have planned to change the normal course of action in delivering perspectives on the current year’s global payments landscape.
In concerned with the global payments, 2020 has been the dramatic contrast to the year as compared to the previous year which was a relatively stable year. The revenue for global payments grew up nearly to 5 percent in 2019, getting the overall revenue for international payments worldwide to be $2 trillion. Payments are growing faster showing a rapid growth as compared to overall baking revenues.
Multi-Currency Global Payment Processing
The multi-currency option is a different aspect of the global payment processing platform. It will allow you to accept payments in more than 160 world currencies. You strive hard to get traffic on your website. Getting leads on your webpage is itself a big task to accomplish. When they land on your website, they are intended to make a purchase. Now, when they have decided to buy your product or service, they will not take the additional time out to understand the mathematics or economics of currency conversion, hence you need to put an option for that so that they will not get a move away from your website.
Allowing international payments in familiar local currencies provide your customer with the flexibility to figure out what item cost in their local currency. Keep in mind that confused customers will immediately leave your website. And quickly appear on another website that offers similar products or services in familiar currencies.
We are the leading merchant account provider that is helping merchants in Singapore in building a strong payment transaction network so that customers have the flexibility to make payment for the merchant’s website. We provide Global Payment Gateway for customers who are looking to have a flexible and safe payment transactions for their business.