Why Modern Commerce Depends on Payment Processing Systems

Why Modern Commerce Depends on Payment Processing Systems

Today customers take it for granted that transactions at bricks-and-mortar stores or online businesses will process within seconds. It wasn’t always that way. For many years merchants who wanted to accept anything other than cash were forced to use cumbersome credit card machines that often turned simple sales into complicated proceedings. Payment processing gateways like BlueSnap are responsible for the difference. They process sales immediately and allow merchants to increase profits by selling to customers anywhere in the world.

A Payment Gateway Increases Efficiency

Merchants use payment platforms in order to attract a variety of clients who want payment options. Businesses often choose integrated platforms that allow them to accept payments in store or online. They can configure systems to accept subscriptions, email, phone and traditional checkout processes. Merchants can also opt for payment API’s designed for marketplace businesses that allow many vendors to buy and sell.

Businesses Use Payment Platforms to Expand Globally

Companies also depend on payment gateways for international sales. A payment platform lets them accept global payments that include a range of credit and debit cards. Merchants can also accept payments using e-wallets, PayPal, paysafe, WebMoney, Skrill and ACH transactions. No matter where customers live they enjoy local payment experiences. Checkout information is automatically rendered in clients’ languages. Platforms offer services in 29 languages, 100 currencies and 180 countries. They include built-in currency converters.

Payment Platforms Help Merchants Increase Revenue

In addition to increasing profits due to increased global sales, payment platforms also include specific revenue boosting features. Merchants are offered global fraud prevention that can be customized for specific needs. They may opt for device fingerprinting that adds an extra layer of security. Systems also help companies recover lost revenue by providing chargeback alerts and dispute tracking. Merchants are provided with a variety of reports that allow them to spot trends and identify problems or find out what is working best for them.

Modern merchants rely on platforms that keep payment processing simple, efficient and profitable. Payment gateways make it possible for businesses to expand globally, by accepting virtually any payment type. Gateways also include resources like fraud prevention and reports which help companies increase profits.