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Five Payment Processing Challenges For Small Businesses

Five Payment Processing Challenges For Small Businesses
Mohab Ecommerce 0

Five Payment Processing Challenges For Small Businesses

The payment industry today seems to be thriving with each passing day. While there is nothing more enjoyable than making money from your business, collecting money seems to be a totally different game. Unlike in the past, people now have no qualms about making payments online. More and more people, especially the current generation prefer using online modes of payments and like to go cashless. With an easier than ever acceptance of credit and debit cards, online payment has become much more sorted and simple, but it does come with its own set of challenges. If you run a small business, payment processing can get a little bit confusing and demanding. To prepare you for the worst, here are five biggest payment processing challenges that you are likely to face:

  1. Frauds

Well, who has not heard of credit card frauds?  Those still remain the biggest reason for most customers to opt for cash on delivery. They have been in existence since a long time and pose a threat to not just customers but to business entities as well. While advancement in technology has made online payment easier, it has also given birth to new types of frauds. Hence businesses need to be proactive about keeping the information of their clients secure. It is also important that as a business owner, you complete the audit of your processor. This can be done by hiring an audit expert who can evaluate your current security measures and warn you against possible vulnerabilities.

  1. Chargebacks

Chargebacks are one of the biggest challenges faced by business owners. Also known as processing fee, its amount depends on various factors like type of business, types of card used, and modes of payment and size of transactions. It is important that you remain in constant liaison with your provider and discuss how each fee works. There are ways to negotiate or avoid a few charges. So it is advised that business owners stay informed.

  1. Payment support

The world is always up, round the clock, so transaction issues are also expected to pop up anytime – even in the middle of night. It is important to have a payment processor support in after-hours too. If your provider refuses to offer that, you may want to rethink about sticking to your current provider. The processor should not leave you or your customers hanging and should always be ready to troubleshoot any problems that arise.  Having access to tutorials and video how to-s is a bonus.

  1. Payment integration

Payment processing is one of the most crucial components of any business. This seems like a common knowledge, yet, many businesses do not pay enough attention to the importance of an effective payment system. The technology available to collect payments is quite complex and needs to be given careful consideration. That is not all, even when your payment processing is successfully integrated, the cost can go up very significantly, especially for small businesses wanting to accept payments online. It is suggested by experts that business owners look for payment integration providers that have built an API suitable for your business.

  1. Compliance

There are a myriad of compliance issues that can appear for businesses in the online payment landscape. Technology certifications and challenges like PCI are just a couple of them. Needless to mention, the regulatory requirements can sometimes get extremely overwhelming for a small business entity as a non-compliance with any of legal regulations can lead to hefty fines and penalties. This makes it all the more important for business owners to work with a processor who can help you stay up to date with legal norms and regulations for your business type.

It is not only imperative, but mandatory that as a business owner you look for a processor that offers a broad set of solutions and products along with best in class support system that fits well with payment processing needs of your business.

7 years ago
5 Tips for Improving User Experience at Your Web Store
Mohab Growth Hacks 0

5 Tips for Improving User Experience at Your Web Store

When we talk about user experience, we can broadly divide it into the following categories:

  • Convenience
  • Flexibility

These are the two major factors on which the entire user experience is based. People look for convenience while shopping online or using an e-commerce site. If the site offers everything that the customer might be looking for, keeping their convenience in mind, people will love using the site. The same is true for another factor – flexibility, which is applicable when people look for different options.

Nobody wants to be conditioned to use a limited set of options, which might be quite inconvenient sometimes.

1.Keep your payout speed fast

E-commerce world is going through a sea change as more and more people are moving from traditional jobs to freelance and online jobs. They earn their livelihood through offering gigs and working remotely for others. In such a scenario payout speed of your site becomes extremely important, as your users need to pay their monthly bills.

User experience is everything in this case and the popularity of your platform largely depends on how well the platform pays its users.

2.Make use of targeted keywords

Convenience can be of different types and ease of access and search ability of your website is the topmost factor. We can achieve visibility in organic search through targeted keywords. It is not only important for SEO but also to attract online crowds through different channels. We need to keep in mind that most of the people are looking for a product using their mobile phones so misspelled words and voice search are extremely important, and we should take care of them while defining the targeted keywords.

3. Arrange the placement of search bars

It is extremely important how your search bars are placed on a page during site navigation. In E-commerce sites, there are various filters you can use to search for the product you are looking for. Every section and filter has an adjacent search bar, which can be scrolled up and down or right and left. It helps you view the entire list, grid or web page. It makes the site easy to navigate, view, and find the right information.

4. Keep your product display captivating
Every effort should be made to highlight the product you are selling. A well displayed product has a higher probability of selling. So, everything that might help you in displaying your product in a better way will help you in improving your customer experience. From HD pictures to HD videos, 360 degree views, GIFs and anything else that helps your customer get a better idea about the product will help you.

5.Make sure checkout is smooth 

One major part of user experience is the checkout process. If the customer feels that the checkout process is not smooth and quick, they will not leave your site in a happy frame of mind. It may also prevent them from visiting your site next time. The same is true for customer experience with your payment gateway. The overall experience includes the ease of choosing the right product, time taken to move a product to the cart and finally making the payment to complete the order.

There are many things that make your checkout smooth and convenient, such as the functionality to store your card information. With this arrangement, the customer doesn’t have to enter the card details every time they make payment. Don’t redirect them to another site to complete payment. Try your best to keep the customer on your site, unless it’s warranted due to security reasons.

If you take care of all these things, it will dramatically improve your user experience and will help your site to attract more traffic and convert more customers. That’s probably the reason user experience is also one of the major factors that influences SEO.

7 years ago
7 Valuable Tips to Make E-commerce Payments Easier For Customers
Mohab Growth Hacks 0

7 Valuable Tips to Make E-commerce Payments Easier For Customers

It’s common knowledge that a better user experience on an e-commerce website leads to swift transactions, conversions, and sales. Yet, we have identified many e-commerce websites where making payment is not so easy and swift. Sometimes, a bug prevents users from quickly getting redirected to the payment page after they enter their payment information. This may frustrate even a genuine and loyal customer. If it happens more than once, the customer is not likely to come to your website again.

The checkout process is extremely critical, so e-commerce vendors should be extremely careful in this last and final stage of closing the sale. They should make sure that there is nothing that might prevent, distract or lead to bad user-experience on the checkout page.

If the entire customer experience is swift and smooth, a window shopper is likely to become your customer. However, if it is not the case, even a genuine customer may bounce off. Some vendors think that their responsibility is over once they slap a popular gateway on the payment page. If you do not have the full control on your entire checkout process, you are not likely to increase conversions and sales.

Let’s discuss a few ways to make the payment process easier for your customers.

  1. Creating an account should be optional

Several websites make it mandatory to create an account before a visitor lands on the eStore and decides to make a purchase. They do not allow users to purchase in guest mode. Largely because their marketing agencies tell them that it’s very important to retrieve the contact details of visitors. I agree, but there are several ways to collect this information and forcing them to create an account should not be mandatory.

According to Smashing magazine, there are many people who do not wish to set up an account with e-commerce sites, because of the fear of getting their inbox filled with spam and promotional emails. Another reason why people do not like to create an account is that while shopping at brick and mortar stores, nobody forces them to create an account before they make a purchase.

Sometimes it is the length of the form that distracts a customer. So make sure that your customer information form is as short as possible. Have you seen Facebook’s sign up form? It has just 4 entries in it.

  1. Consistency in web design

Maintain consistency across your website including your checkout page. It is not only good for branding but it will also prevent the skeptical people from leaving the website. People become skeptical after going through the horror stories of scams taking place all across the globe.

  1. Convince the customer about security and privacy

According to a study by eConsultancy, more than 60% of the participants abandoned the E-Commerce sites on the checkout page, primarily because they had some concerns about payment security. In order to assure such people, you should maintain a consistent design and shouldn’t redirect people to a third party website. Use secure socket layer certificate on your website and make sure that you comply with PCI Security Standards Council (PCI SSC). It enhances the customer confidence.

  1. Make it easy for people to correct the errors 

While filling up their personal and financial information on the payment page, users might mistype and enter incorrect details. Usually, the error message flashes on top of the page and users are not able to see that. Instead, if only the particular field is highlighted, it will make it easier for the user to fix it.

  1. Ask for the information that is essential

Make sure that you do not ask unnecessary details and keep it to the bare minimum. According to a report published by Forrester, more than 11% of adults in the United States abandon an e-commerce site, when they are faced with a long form to fill up.

  1. Do not redirect your customers

Psychologically, people love branding – it includes the site layout, design, look and feel. They might feel a little uncomfortable, when they are redirected to another website to just complete the funnel. They might think that it will take additional time to complete the procedure, even if it is a part of same funnel.

  1. Prevent distractions on the checkout page

When the customer is at the end and the most critical stage of buying cycle, there shouldn’t be any distractions as customers have very little attention span these days.  A little distraction can take them off to somewhere else and they might change their mind.

Final thoughts
So, if you are really serious about shopping cart abandonment, make it easier for people to pay. As a thumb rule, follow this: “I have to turn window shoppers into paying customers.”

7 years ago
Crack the Marketing Code To Attract New Customers To Your Small Business
Mohab Customer Experience 0

Crack the Marketing Code To Attract New Customers To Your Small Business

To sell your products and services as a small business, you need the right information. I have distilled the vast information available online to make it easy for you to promote your business and attract customers on a shoestring budget.

This information comprises of some old school methods of promotion combined with some modern and innovative methods. All of these activities together will yield wonderful results. I have tried to make sure that the tips suggested here are proven yet low cost methods to promote your business and attract your customers.

All of the methods listed here may not be suitable for your business type, so focus on the ways that would work best for your business.

These methods can broadly be divided into three major categories.

  1. Offline Promotion
  2. SEO and digital marketing
  3. Other innovative methods

A. Offline Promotion

As far as offline methods of promotion are concerned, we can again divide it into the following points:

1.  Volunteer work
Start volunteering for community services in your neighborhood. Arrange free health checkup camps or simply sponsor an event.  Just try it, your community, church or mosque is waiting for your services. Its worldly incentives include free publicity.

2. Host community meetings

In spite of the fact that it’s prevalent mostly in the Western countries you can try it in the East as well. Invite groups such as book clubs, football fans, local groups, and political and religious groups for a meet up or get-together. Offer freebies, discounts, donuts and coffee. They will likely come back to buy from you.

3. Distribute leaflets and flyers

One of the most powerful weapons of the old school marketing arsenal, leaflets and flyers are still relevant and effective.

4. Do some charity and conduct charity shows

Arrange charity shows and invite children and other artists to organize the show. Distribute the proceeds to the poor and the weak and get free publicity.

5. Hold in person events

Get outside your premises and offer your services outside, or simply organize an event and invite people to your place. Collect their contact information, offer freebies and discount coupons, or send coupons to their mailing address.

6. Partner with other related businesses

If you are a wedding planner, partner with music bands, flower shops, decorators, caterers and other event organizers. Partner with these businesses and distribute discount coupons and membership cards to their customers. Offer a free appetizer on their first visit.

7. Offer great customer service

Customer service is the key to success in any business – big or small. Offer exceptional customer service, so that you get a lot of referrals and word of mouth promotion.

8. Nurture existing customers and expand your customer base
Use your existing customers to expand your customer base. Give personalized gifts to your customers on their marriage anniversaries and birthdays. Offer incentives to your customers to bring more customers for you. It may be a jumbo discount or a free offer.

B. Digital marketing

Digital marketing is one of the most effective ways to attract customers to your startup or small business. Try the following action tips and experience a flood of customers pouring in:

  1. Create a website
    It’s the first step of digital marketing and a platform for all your future campaigns. Later on, you can create a blog and a video log on YouTube.
  2. Go for directory listing
    List your business on all local and popular online directories to improve your visibility. Hire an SEO professional, if it’s too much for you.
  3. Create your presence on “Google My Business”
    It’s Google’s own way of local listing and SEO for your business. It will not only create your online presence, but also increase your visibility in organic searches.
  4. Create your presence on social channels
    Choose a social media channel that is popular among your customers and audiences and use it fully to promote your brand. It can be Facebook, Instagram, Twitter or WhatsApp.
  5. Do some online advertising
    Try Facebook and Google advertising. It instantly brings results, leads and traffic. This is the fastest way to convert your prospects well before you appear on organic searches.

C. Other innovative methods
Apart from these, there are some other innovative methods as well that you can try to attract customers.

      1. Leverage influencer marketing through word of mouth
        Use your existing customers to act as your brand ambassadors. Offer “real” and “valuable” incentives for every sale you close through those customers. You can also use them to distribute your flyers etc. Reward the people, who mention your brand in their public meetings and social gatherings. Run campaigns like, bring 5 customers and take your free gift, etc.
      2. Offer free gifts, discounts and deals
        This is a great way to promote your business. “Free” is a magic word in the world of business, use it to your advantage. Look for opportunities to offer freebies.
      3. Arrange contests

    Contests are a great way to attract customers. Arrange both offline and online contest. Use your creativity.

    4. Share your knowledge

    Sharing knowledge is a great way to promote yourself and your business. You can use a blog, a Vlog(video blog)            or an event to share your knowledge. Make sure it offers value to your customers.

    Final thoughts
    There is a long list of tips you can try to promote your business and attract customers. We have tried to present  all the valuable information at one place. Most of these tips can be tried by startups and cash strapped small businesses. You can learn digital marketing through Google itself. Pour some passion into it and see the magic.

7 years ago
5 Reasons to Accept Multiple Types of Payments
Mohab Growth Hacks 0

5 Reasons to Accept Multiple Types of Payments

It is impossible to miss how all kinds of businesses are going online these days, all over the world. This is primarily because an online store guarantees to connect you with countless customers from your own country as well others, making your business a more successful venture than ever before. While you are excited about offering your products and services to worldwide shoppers, you should not overlook the fact that providing these shoppers multiple payment options is mandatory these days. And consequently, you need a payment gateway like PayTabs that offers alternative payment options and accepts almost all currencies. Why you say? Read on to know the reasons!

  1. To boost your revenue

Offering multiple payment methods to your customers means they will have a better time shopping from your ecommerce store. This is because they will be able to pay whichever way they want, without having to face issues like “Only credit card accepted” and so on. And the more they buy, the more your revenue will shoot up! For instance, PayTabs is a global payment gateway that accepts multiple currencies and offers a wide array of payment options like American Express, Visa, MasterCard, Sadad, Mada, Union Pay, WeChat Pay, Alipay, and K-net.

  1. To keep old customers hooked

Just because your existing customers use a debit or credit card to make purchases from your online store right now doesn’t mean that they won’t look for a card-less payment option in the future! And this is where using a payment gateway that offers quick and safe transactions without any card can be beneficial.

  1. To secure new and repeat customers

By offering multiple payment methods, you will also be able to attract new customers who prefer digital payments using e-wallets. And because gateways like PayTabs also accepts a huge number of currencies, your business will appeal to both domestic and international customers. The number of repeat customers will also go up because once a shopper experiences payment convenience at your store, he will keep coming back for more. For example, if a customer finds that he can easily buy a burger from you through mobile payment wouldn’t he want to do that again? Of course he will!

  1. To promote convenience and sell more

A friction-less shopping experience is all that a shopper wants. And as a merchant, you can offer multiple payment options to make this happen. In other words, if a customer wants to pay through debit card, he should be able to pay through a debit card. Offering this convenience will encourage shoppers to buy more and buy more frequently. If you couple this with discounts and coupons, your sale figure will go through the roof!

  1. To diminish overhead costs

Instead of putting in a lot of money for one expensive payment method, you can go for different payment methods which include low-cost options as well. Especially, if you are the owner of a small business in a risky industry and face a low volume of transaction, you should go for a wide array of payment options to bring in more customers and keep your overhead costs low.

Last but not the least; using a payment gateway that offers many different payment methods will mean increased cash flow. And you surely know that any business can benefit from a healthy cash flow and tide over emergencies easily. So, consider PayTabs as your gateway, offer more “payment choices” to your customers and gain a definite edge over your competition.

7 years ago