Rethink the Ordinary With Advanced Payment Solutions

Share this post

Most consumers are more than aware of basic payment solutions, especially after the pandemic struck their lives and their usual means of payment. Even before the new normal, many consumers were familiar with e-commerce and therefore, businesses were already used to accepting online payments on their websites or their apps.

If these payments seemed pretty straightforward for consumers, technology now allows for more streamlined payment solutions that make it easier to take online payments on your website. In this article, we are going to illustrate how these processes make accepting online payments easier and, as a result, increase your conversion rates and customer loyalty.

The Development of Non-Cash Payments and Card Usage

Decades before the pandemic, the payments industry marketed unpoetically about the need to reduce physical interaction in all transactions. It seemed as if their marketing efforts revolved around coming up with new buzzwords such as one-tap, one-touch, e-invoicing, e-payments, e-commerce, mobile wallets, contactless payments, and so on.
Now, however, you might refer to any of the above as ‘social distancing’ or ‘stay at home’ payments as well. However, you have to admit that these payment alternatives do not only give merchants and consumers protection. They are, maybe the only thing that has helped businesses survive an economic catastrophe.
During March 2020, managers and executives all over the world sat at their conference tables and reiterated one fact: ‘Go digital or go home’. For this reason, corporations have also begun to issue digital invoices, giving priority to the health of their workers and their families.
In addition, every storefront, whether brick and mortar or digital, seemed to gain the trust of consumers. Simply put, ‘social distancing’ payments were established as a way to gain consumer’s trust. Considering everything that we’ve discussed, one could also say that these payment alternatives are here to stay.

The Different Ways of Collecting Payments

By learning the hard way before building new ones through the internet, multiple service industries had to demolish their conventional payment methods. While the major technological advancements in payment systems can be dated back to the early 2000s, many were still stuck in the past in the wake of the latest economic downturn.
Of course, if we have to fall, we should learn to fall forward. For this reason, let’s quickly go over how service providers can rethink their outdated payment procedures to retain consumers in the new normal:

Monthly/Yearly payments

Telecommunications service providers, insurance companies, and numerous other subscription services design payment schemes over specific periods of time. While generations of consumers were molded to get used to these complex payment procedures, consumers during the new normal demand streamlined contactless payments.
One mistake and you’ve lost thousands of customers. Wouldn’t you agree that accepting online payments would have resulted in the same losses? If so, you are absolutely right and let’s have a look at how e-invoices can help solve your dilemma.

How a Traditional Online Transaction Works

How E-Invoices Work

E-invoices may just be the best option because all a service provider is required to do is send a pre-ready electronic invoice. This invoice can be sent to consumers in the form of a link via email or any other form of personalized message.
In either case, consumers can click on these links and proceed to making a payment via Mastercard or Visa to your merchant account. DECTA’s Payment Gateway will finally give a green signal to the consumer while service providers can focus on providing the best goods and services with zero road bumps along the way.

Recurring Payments and Subscriptions

Similarly, merchants and service providers can take advantage of recurring payments and subscriptions. In doing so, your customers could be spared from the hassle of entering their card information each time they make a payment to you.

Now that you’ve found a way to keep your customers happy, and hopefully, attract new consumers to your business, the only thing you’re worried about are your profits. Well, DECTA has this figured out for you as well with the dual message system. This allows you to not freeze your customer’s funds, restricting them to use them anywhere else with the popular “closed wallets” that fill the function of a deposit. But make a temporary hold for let’s say $10 in the form of a deposit and capture just $7 (the actual cost of your service) while unlocking $3 which is an unused amount. This feature is mostly appreciated by fuel stations, last-mile transportation, parking and mobility industry (i.e., carsharing)

International Payments and Payouts

E-commerce and other businesses that accept online payments have one distinct advantage, which is the economies of scale. If international payments and payouts is your strategy for a business model, you probably also have countless competitors. However, with DECTA, you can streamline payment options for consumers and therefore, have a crystal clear competitive advantage.

Here are just a few of the situations for the use of payouts
  • Employee or freelancer payroll
  • Loan payouts
  • Crypto wallet withdrawals
The great feature here is that the recipient gets the funds almost instantly – the transferred amount is usually available within minutes. We bet your clients and employees will appreciate that.

Additional Features That Offer a Competitive Advantage

  • Client Details Preserved
Once your clients have entered their card details in a payment gateway, they will be able to save time on each transaction or recurring billing. This not only helps attract clients, it also saves you from the hassle of constantly dealing with feedback from customers.
  • Payment Page Customization
Why stop at seamless payment options when you can also customize your payment page to complement your overall brand?

  • Easy Returns and Partial Refunds

When your product may be out of stock, when it has been damaged, or when your customers are adamant about returning a certain portion of their order, partial refunds often come in handy. What if we told you that partial refunds could be as simple (for consumers and businesses) as payments and payouts?
If you are looking for a trusted and knowledgeable payments partner, we will be happy to find you the most suitable solution. Feel free to contact us via e-mail [email protected]

More To Explore

Membership

Merchant Community Membership

Are you a member of The Payments Association?

Member benefits include free tickets, discounts to more tickets, elevated brand visibility and more. Sign in to book tickets and find out more.

Welcome

Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.

Having trouble signing?

We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.

First things first

Have you set up your Member account yet? If not, click here to do so.

Still not receiving your auto-login link?

Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.

Please click the button below which relates to the issue you’re having.

I didn't receive an e-mail

Tip: Check your spam

Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association

Tip: Check “other” tabs

Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.

Tip: Click the link within 60 minutes

For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.

Tip: Only click once

The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.

Tip: Delete old login e-mails

Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.

Tip: Check your security policies

Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.

Need to change your e-mail address?

For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.

Still got a question?