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Frequently Asked Questions
How can I improve my online payments?
Provide multiple payment options: Offering a variety of payment options, such as credit/debit cards, digital wallets, and APMs, can help customers choose the method that is most convenient for them
Simplify the checkout process: Make the checkout process as simple and easy as possible, with minimal form fields and clear instructions
Ensure security: Choose a reputable payment gateway that has encryption and tokenization to protect sensitive customer information and increase trust
Enable one-click payments: Make the shopping process clear and fast for your customers to ensure more successful payments on your website
Enable recurring payments and a “save card” option: Build long-term relationships with your customers to increase their loyalty
Why checkout customization could increase the number of sales?
Checkout customization can increase sales by improving the user experience, building trust, and enhancing branding. A streamlined and intuitive checkout process eliminates friction and makes it easier for customers to complete their purchase. Customized branding and design elements create a cohesive and professional impression, increasing trust and credibility. Security assurances and multiple payment options instill confidence. Ultimately, checkout customization helps create a positive and seamless buying experience, increasing the likelihood of conversions and driving more sales
What is H2H API?
H2H API refers to an integration method where two parties, a merchant and a payment gateway provider, exchange data directly through an API without the involvement of the end customer. In this case, the H2H API integration does not involve processing the card data directly by the payment gateway provider, nor does it require any interaction with the customer. Instead, the customer provides their card data to the merchant separately, outside of the payment gateway provider’s system. The merchant then sends the necessary card data to the payment gateway provider through the API, allowing for the secure and efficient processing of transactions. Note that in this case, the merchant must meet the PCI DSS requirements when working with this API, as it involves the transfer of sensitive card data
What is API In online payments?
An API (Application Programming Interface) in the context of online payments refers to a communication interface that allows different systems to exchange information and interact with each other. When a merchant integrates with a payment gateway provider, such as our system, they typically connect to the provider’s API to enable the processing of transactions. An API enables merchants to securely and conveniently transmit payment data between their systems and the payment gateway provider. Our payment service offers a secure API to facilitate seamless integration and processing of online payments
How do one-click payments improve sales?
One-click payments allow customers to complete their purchase with a single click without having to enter their payment and shipping information again. This can improve the customer experience by making the checkout process faster and more convenient, which can lead to increased sales. By reducing the number of steps required to make a purchase, one-click payments can also help reduce cart abandonment
Why are recurring payments so important for conversion increases?
Recurring payments, such as subscriptions or memberships, can provide a predictable revenue stream for businesses and encourage customer loyalty. By offering a recurring payment option, businesses can reduce the friction of having to repeatedly make payments for ongoing services or products, which can increase customer retention. Additionally, recurring payments can be a convenient way for customers to manage their budgets and ensure that they continue to receive the products or services they need without interruption
What type of businesses will win, using recurring payments?
Businesses that sell subscriptions are the biggest beneficiaries of recurring payments due to their business model. It may be any streaming service, app, or software company
Businesses that aim to sell customer membership usually charge a fixed price for their services or goods. For example, learning courses or fitness gyms
Businesses related to the financial sector
Financial services related to loans, insurance, investments, etc. They usually deal with fixed amounts, and they charge on a regular basis
What is payment gateway fraud?
Payment gateway fraud refers to fraudulent activities or unauthorized transactions that occur within a payment gateway system. It involves the misuse of payment information or unauthorized access to payment accounts, resulting in financial loss for the merchant, payment processor, or the cardholder. Payment gateway fraud can take various forms, including stolen payment card details, identity theft, account takeover, fraudulent chargebacks, or manipulation of payment processes. Fraudsters may exploit vulnerabilities in the payment gateway system to gain unauthorized access, make fraudulent transactions, or deceive the system to bypass security measures. Choosing a reliable and secure payment gateway provider like Transferty is essential to protect against payment gateway fraud
How does payment gateway fraud happen?
The most common types of payment gateway fraud include:
BIN attacks and Card testing: In BIN attacks, cybercriminals use specialized software to generate long lists of potential card numbers by combining the first six digits of a card (the BIN) and testing them to find an active card that can be used for fraudulent purchases. In card testing, fraudsters create long lists of card numbers and make spam purchases in the hope that some of them will be successful
Theft of identity: By using identity theft tools, a hacker receives the personal payment data of a victim and makes a purchase using the victim’s card. To reduce the risk of data leakage, payment providers use tokenization technology, which replaces the customer’s sensitive data with a token, that could not be used by fraudsters to steal the information
To help prevent these types of fraud, payment providers often use various security measures, such as 3DS (3-Domain Secure), which adds an extra layer of authentication to the payment process by requiring the customer to enter a unique OTP (one-time password) or verification via a banking app before the transaction is approved. This security measure can help reduce the risks of payment gateway fraud and ensure that transactions are secure and protected