After the dominance of the virtual world and the spread of modern technology especially in the field of commerce and sales, everyone now tends to complete financial and non-financial activities and transactions through the smart network.
which prompted the emergence of online payment methods that operate all payment and collection operations using an intermediary.
The rate of internet subscribers has reached 104% in 2019 and is constantly growing, and the revenues of e-commerce have constituted 13% of the overall retail trade.
In addition, the online expenditure rate has reached 100 billion dollars in Asia.
Evidently, online payment methods have largely contributed to the increase of e-commerce revenues and of the volume of sales on online stores. But what are online payment methods and how do they operate?
Online Payment
What are online payment methods?
They represent a set of systems, services, applications and programs offered by banks and financial institutions to facilitate the process of money transfer between two parties, provided they subscribe to the service.
One of the users deposits a certain amount of money and opens an account in his/her name, and through this account he/she can purchase goods and products and pay dues in all respects that this method supports.
Online payment methods are very numerous and spread all around the world, as you can find payment gateways everywhere.
But what is the guarantee that a certain gateway is suitable for you? You certainly need Fatora, the number one gateway in the Arab world.
What are the benefits of online payment methods?
1- Relying on electronic support for the execution of financial transactions, regardless of the amount and concerned party. In some countries, individuals have even become able to pay their financial dues to the government online.
2- Simultaneous parallel interaction between the transaction parties, as it is possible for a large number of subscribers to access the same website at the same time or for one person to send the same message or announcement or request to several recipients at the same time.
3- The possibility to immediately impact the computer systems of the company through what is called electronic interchange of data and documents.
4- The ease of settlement of international dues entailing from commercial transactions through internationally accepted digital money and in a short period of time.
5- They enhance the speed of response to customer inquiries compared to traditional paper-based transactions that require a longer time to receive and respond to purchase orders.
6- Security and protection, as dealing with online payment methods makes robberies, thefts and fraud very difficult, knowing that the source is clear and the transfer, sale and purchase transactions are archived and may be referred to at any time.
How to use online payment methods:
First and foremost, it is essential to rely on a trusted online payment company in order for you to ensure the security of your business and assets and your customers’ rights. Afterwards, you should store your personal and banking details, then you start using online payment through this data. And if you were wondering about the areas where you can use online payment, then I will tell you:
- A very good option for collecting your financial receivables from your online store, as making an online payment method available on your online store encourages your customers to purchase your products and services, and also offers them a more flexible and easier experience in your store, which in turn will increase your revenues and boost your profits.
- A great option to collect money from your financial transactions with traders and governments or from any other area such as private payments between individuals.
- An excellent option for collecting money by sending invoice links to customers, and it is also considered an easy and fast method and maintains courtesy and friendliness between you and your customer.
When you deal with a secure entity that is specialized in online payment, you will enjoy a sort of mental and physical comfort, since you will not worry about auditing each invoice or chasing the customer every time a payment is due as the online payment company will take care of it.
online payment methods
What are online payment applications:
They are applications and electronic programs that provide online payment services that consist of collecting and paying financial dues and sending invoices to customers and enable the customers to pay such dues through their online account in an easy and fast manner and without the need to be present in person at the manufacturing or selling company or to go anywhere.
This method is distinguished by making the payment process online in an easy and fast manner as well as safeguarding the security of your money and financial transactions, as such operations respect the user’s privacy and ensure his/her financial transactions whether small or big.
One of the most important features of these applications is their support of smart devices since most online shoppers tend to purchase and pay through their mobile phones that are always handy, unlike laptops that are used only by those who need them.
For this reason, online payment applications increase the rate of online shoppers since, as we all know, everyone without any exception uses smart devices in our modern era, but not everyone uses computers or laptops except when needed.
Read more: Online payment at the forefront, goodbye to paper money soon 2021
What is the best application to use for online payment at your company?
You need a secure, practical and easy-to-use application that operates with international payment methods and supports the Arabic language and all languages and currencies.
You are right! You really need the online payment application by Fatora, the number one payment gateway in Qatar that saves you a lot of time and effort and helps you complete your financial transactions and collect your money through different methods, in addition to more services including:
It facilitates the process of collecting your money through multiple methods such as large payments, installments and monthly subscriptions.
It reduces workload and finds and suggests technical and innovative solutions to solve all the problems you may face.
It saves time and effort allowing you to manage and develop your other businesses.
It demonstrates great professionalism, flexibility and transparency in dealing with customers.
paypal
What does the online payment gateway by Fatora offer you?
Collecting your money from home and in the shortest time possible, which greatly benefits your business as explained in a previous article.
How do you facilitate collecting your money by using e-invoices?Requesting the collection of your receivables with the least effort.
Sending your invoice by email or phone or even WhatsApp.
Achieving the largest number of online financial transactions in a very simple way.
Knowing what you have to pay and collect in a determined period of time and reminding you of your requests.
Great transparency, flexibility and dynamism for your customers, and specific and exclusive invoices for your trademark.
The world of modern technology is very vast and filled with facilities and services that improve the efficiency of human dealings and facilitate their implementation in all fields, especially e-commerce and online payment.
We are now dealing with the progress that is changing the face of the world and the way of life in all its forms over time.
In the wake of this progress, you need the biggest supporter that helps you collect your money, pay your dues, issue your invoices, and archive your financial transactions, in addition to many many more services. You really need Fatora.