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Top 10 Paymes Platform Benefits for Small Businesses & Freelancers

Top 10 Paymes Platform Benifits for Small Businesses & Freelancers
Mohab Social Commerce 0

As a small business owner, you are surely aware that customer payments go a long way in helping you survive and thrive. Each product sold and each service provided contributes to the growth of your business, but only if you get paid smoothly and on time. This is the reason why it is important to have a strong payment platform in place that can accept payments in different methods, currencies, and from different regions around the world. Paymes by PayTabs is one of the best payment platforms for small businesses in this regard and provides multiple benefits. It is an amazing platform loved by freelancers as well as small business owners. Here are 10 reasons why your business needs to opt for Paymes payment platform today.

1.     Different Payment Methods

One of the biggest hassles of buying something offline is the need for carrying cash. In fact, in the physical world, many customers fail to buy products at the spur of the moment because they don’t have cash on them. Hence, this dependence on a single source of payment isn’t beneficial for businesses. Luckily, the Paymes payment platform allows customers to pay for your products in any of the modern digital methods they prefer. They can pay online, through cards, and digital wallets, and can even pay for products while sitting at home. Both customers and you will receive instant notifications so that you know that the transaction is complete.

2.     Faster and Securer Transactions

You can receive payments 10 to 50 times faster than usual by using a digital payment platform like Paymes. QR codes, payment links, card swipes, wallet deductions, and other such activities take just a few seconds to transfer money, and there is no issue of exact change as well. Customers can buy anything from candy to a brand-new car with the touch of a button. Paymes makes sure that all transactions happen securely, and that the data is protected from any kind of fraud or phishing activity.

3.     Possible to Create Your Own Digital Store

Paymes allows you to set up your own digital store without hassle. You can easily upload images of your products or services, write a short description, set the prices, and be ready to accept orders in just 20 seconds. You can brand your shop to make it easier for customers to find it. Create your own brand theme, collections, and inventory and let users add your products to their cart and place orders. It’s perfect if you don’t have a digital store or website of your own yet. Through the Paymes digital store, customers can choose your products, click on the payment link and order them instantly.

4.     Virtual POS

If you already have your own website where your products are listed, then the Paymes payment platform provides a great solution for you to start accepting payments seamlessly. You can easily integrate the Paymes Virtual POS on your website and enable customers to shop for your products in multiple ways, methods, currencies, and from different geographic locations. This is a huge step towards making your company and brand truly global.

5.     Instils Trust in Customers

Modern customers are more sceptical and aware of things than previous generations. They can easily figure out whether a website or a brand is worth trusting and sharing their data on. So, as a merchant, if you accept online payments easily and have a secure payment platform to carry out the transactions, you will be able to instil a sense of trust in customers and empower them to shop from your store without fearing fraud, duplicate products, or data leakage. Paymes offers an online invoice payment receipt as well, so that customers can track their products, decline them if there are any damages to the packaging, or return them safely if there’s an issue with the product.

Also Read: Find Out Why Having an Online Store Makes Sense

6.     Adds Convenience to Recurring Payments

There are so many OTT platforms these days, making it easy for us to watch our favourite movies and TV shows with the click of a button. But imagine the hassle if users need to pay for the service once every month, but if they forget, their services get revoked. Paymes payment platform makes recurring payments, such as Netflix subscription, convenient and cheap for all. If you’re selling a subscription service or require recurring payments from your clients, Paymes offers a smart solution. Customers can pay for a subscription once and it will automatically deduct the recurring amount without them having to go to the link or pay again.

7.     Minimum Set-Up Costs

Many business owners think that integrating a digital payment solution requires a lot of money and is only suitable for large businesses and enterprises. However, that’s not true. The Paymes payment platform can be installed free of cost and you can easily become a member of its service. Registration is also very straightforward and takes just 24 hours. While there might be transaction charges levied by the owners, they are very minimal and there’s no hidden fee involved. The benefits you will gain with a digital payment solution will cover the installation costs.

8.     Helps Keep Up with Trends

Remember that accepting digital payments is not some additional service that you will be providing your customers. It has become the preferred mode of payment these days. So, you need to cater to the same. Times are changing, and with advancements in technology, having a payment platform like Paymes will help you stay in tune with the market trends. Plus, in the wake of the pandemic, enabling contactless payments can improve your brand image.

9.     Encourages Impulse Buying

Impulse buying is common nowadays, especially among the young generation. People tend to buy things just because they like them and not really because they need them. Which basically translates to more revenue for your business. But for that, you need to make sure that online payments can happen with ease and the checkout feature is simple. This is where Paymes helps.

Also Read: The Most Popular Online Payment Methods

10.  Enables Social Commerce

Modern customers are not just limited to retail stores or eCommerce platforms. Often, they directly contact brands and designers through social channels and get customised products from them. Paymes allows business owners like you to utilise this power of social commerce and sell products via Facebook Messenger or Instagram. Social commerce is getting popular fast and it will be beneficial for your business to be available on every social channel possible.

Also Read: Paymes: Social Commerce Made Easy!

To wrap up, being a small business owner or freelancer is never easy. Handling everything from the product to marketing, operations, sales, logistics, and other business aspects can be challenging, especially without help. Which is why, the Paymes digital payment platform from PayTabs makes your life a little easy and lets you collect payments or fees from customers without any hassle. It takes care of everything, so that you can focus on turning ideas into awesome products and services, and talent into profit. Kick-start your business like you always wanted to, with Paymes.

3 years ago
Choose PayTabs SwitchOn Payment Solution Over Others – Here’s Why
Mohab Payment Orchestration 0

Choose PayTabs SwitchOn Payment Solution Over Others – Here’s Why
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As a merchant or business owner in a modern, dynamic market, you need to enable flexible payment solutions to make sure that customer payments get accepted smoothly, irrespective of the method chosen. And PayTabs understands this perfectly well. Which is the reason why, they took a huge step towards meeting this objective by launching their very own transaction processing platform and globally validated unified payments solution called SwitchOn.

The payment solution has its own IP and is available for local deployment at an affordable price as well. It has been built based on deep use case expertise and empowers innovation in the region. Its architecture allows clients of different scales and from multiple industries to maximise the benefits while working in tandem with the legacy systems. Here are a few reasons why business owners like you are choosing SwitchOn payment solution over others.

Features and Benefits of PayTabs SwitchOn

· 3DS Solutions

With the help of SwitchOn’s 3DS Solutions, you can accept payments safely from customers or other merchants. It supports multiple payment methods including MasterCard, Visa, digital wallets, UPI cards, AMEX and more, so that you never miss a business opportunity. Your business can accept subscription or recurring payments from customers as well.

Also Read: The Most Popular Online Payment Methods

It is important to make sure that your digital payments are secure and safe from any kind of unauthorised activities. Luckily, SwitchOn payment method not only helps in enhancing the customer experience, but also provides fraud protection with the help of cardholder authentication.

· eCommerce Suite

Even if you are just foraying into the world of business and have no prior experience, SwitchOn makes your journey easy. This payment solution enables you to create your own online business in less than 2 months, complete with product images, descriptions, reviews, and more. It also helps you in creating self-service portals which are customisable and includes support for dispute management, batch or real-time settlement, and chargeback handling.

The eCommerce suite of SwitchOn will allow you to accept digital payments from the website or social payments from different social commerce platforms. The real-time merchant dashboard will also allow you to generate customer insights and analytics.

· QR Payments Solutions

One of the best ways of growing merchant sales is by enabling QR payments. SwitchOn payment method offers this capability by providing full omnichannel capability, both static and dynamic. It can be easily integrated into ATMs and POS for accepting value-added payments.

QR payments are a great way of increasing the customer base as it provides them with a very convenient way to pay for goods. SwitchOn understands that losing out on even one customer is not good for your business, and thus, includes support for Mastercard QR codes, Visa QR codes, and other QR programs. This payment solution also provides customisations for any national or domestic QR programs as well as close-loop QR programs.

Also Read: A Basic Guide to 6 Different Payment Solutions for Freelancers

· POS Management Solutions

A lot of people prefer cards as a payment method. SwitchOn’s POS Management Solutions will help business owners like you to accept card payments easily and more efficiently. Transactions can be monitored from the Business Manager Dashboard in the Terminal Management System. There’s POS Merchant Management available as well.

The POS management solutions will give you more control over fees, incentives, discount rates, restrictions and more. You can customise the portal as per your need and perform settlements in real-time or in batches.

· Switching and Authorisation

Paytabs SwitchOn payment solution has a plug-and-play mechanism that makes it easy to integrate into any business. It is beneficial for omnichannel business owners as well since it supports different popular payment schemes like Visa, Amex, RuPay, Mastercard, and more. The payment solution is highly scalable with real-time routing and switching.

You can accept payments in different currencies and from different time zones with the help of the SwitchOn payment solution. You can also benefit from financial transaction switching with reporting, transaction distillations, EMV-enabled payments, online audits, settlements, balancing, and switch reconciliation.

· Cards and Wallet Management

SwitchOn not only helps in managing different cards, but also has options for issuing their own virtual and physical cards as well. The plug-and-play system gets integrated quickly and supports credit, debit, and prepaid cards as well. The SwitchOn issuing solution issues payment cards easily and is a great step towards increasing customer experience and maintaining customer retention.

· ATM Management Solutions

The SwitchOn payment method provides ATM driving and monitoring for major ATM brands like Wincor & Diebold, NCR, Nautilus, GRG, and more, so that no customer gets left behind. This enables efficient cash management and forecasting as well as support for cash recycling. Transactions can be dispensed in multiple currencies and support dynamic currency conversion as well.

All in all, as a renowned fintech enabler in the MENA region, PayTabs aims to deploy a unique payment orchestration capability across the region. And its SwitchOn payment solution is doing just that, by enabling businesses like yours to boost growth and reach new heights while complying with the regulations of the local country.

3 years ago
Finding the Best Payment Gateway for Your eCommerce Business Made Easy
Mohab Ecommerce 0

Finding the Best Payment Gateway for Your eCommerce Business Made Easy

Running an eCommerce business is sure lucrative in a world that has gone online for quite some time now. But it works only if you deliver an awesome customer experience and receive your payments smoothly. Which is why, picking the right payment gateway is so important. It is a vital bridge connecting your consumer and your product. With a reliable, secure, and advanced gateway, making and receiving online payments can become a breeze. It will minimise business risks, ensure secure transactions, reduce instances of shopping cart abandonment, and provide a better brand experience overall.

In fact, it might interest you to know that more than 50% of online shoppers abandon eCommerce portals without completing their transactions. Reports have shown that the payment page experience plays a significant role in influencing your customers’ shopping journeys. About 17% of all online customers today don’t trust online shopping sites with credit card details. 6% of customers abandon their carts because their choice of payment card wasn’t available. About 4% leave your site because of technical glitches.

So, it is evident that choosing the best payment gateway for eCommerce transactions plays a significant role in determining profitability and brand experience. Read on to know how you can go about it.

What is a Payment Gateway and How Does it Work?

 Payment gateways aim at conducting simplified transactions while ensuring the security of sensitive customer information shared during this process. Different types of payment gateways use different security protocols to ensure customer data security. This includes encrypting details like bank and card numbers, one-time passwords, etc.

So, if you have an online business, it is vital that you know how a payment gateway works so that you can identify problems when something goes wrong. Here are the steps followed to complete a transaction through a payment gateway for eCommerce websites:

Step 1: A client or customer adds items to their cart, confirms their order, and clicks on Checkout.

Step 2: The eCommerce portal or website redirects them to the payment gateway page. Here, the customer must enter all the required data about the card they intend to pay with, the issuing bank details, etc. The payment gateway takes the customer directly to a secure 3D or issuing bank page, depending on the type of payment gateway, for transaction authorisation.

Step 3:  Once the transaction is authorised, the bank performs its checks (validity, available balance, etc.) and either approves or rejects the transaction. If the transaction fails, the customer receives an ‘error’ message and must try again from the start.

Step 4: Else, the issuing bank approves the payment and transfers the funds to the payment gateway, which in turn settles the amount with the seller, which is you.

Step 5: Once each of these steps has been completed, the customer receives a message of confirmation stating the order has been placed.

From these steps, you can clearly see that every monetary transaction on an eCommerce portal requires the exchange of sensitive data. Bank details and card information are highly personal and can have a deeply negative impact if leaked. Thus, all vendors and types of payment gateways for eCom payment processing must ensure complete security around personal user information.

Using a reliable and credible vendor for your payment gateway services is an effective way to ensure that data does not get leaked. Such vendors offer strong countermeasures, data insurance, and other features that ensure data is not leaked or that the damage is minimised should a leak ever happen.

Types of Payment Gateways You Can Choose From

Now that you know what is a payment gateway and how it works, ask yourself which type of gateway solution do you need for your business? There are basically two types of payment gateways to choose from:

  1. External or hosted payment gateways: These payment gateways are integrated with your primary eCommerce website. However, for every transaction, it redirects users to your payment gateway page to complete transactions. The primary benefit of this type of payment gateway is that you don’t need to worry about transaction safety. The payment gateway provider takes full responsibility for transaction security and platform compliance. External gateways are also easy to set up and don’t need customisation.
  1. Direct or integrated payment gateways: This type of payment gateway doesn’t require the customer to leave the host website. As the merchant, you are responsible for all the interactions that take place since they take place on your website. The greatest benefit of integrated payment gateways is that you can provide a much better and more personalised user experience. You have the option of tailoring your checkout process so that it fits your business requirements and strategy. This ensures a seamless experience and is ideal for mobile transactions.

6 Factors to Consider While Choosing Gateway Payment Solutions

Since there’s a lot that depends on your payment gateway, it’s critical to make the right choice. However, with so many options available, it could be hard to choose. Keeping the following factors in mind can make this process easier though.

  1. Availability of services: You need to know where most of your customer base is located. Depending on this, you need to choose a payment gateway that is available in the country where you are doing business and where your customers are. Almost every gateway provider has a list you can check against. You can also email them to confirm.
  2. Transaction fees: Every gateway provider levies charges on transactions based on several factors. This could be the payment method, type of card, number of transactions per month etc. Make sure you choose the right criteria, or else your transaction fees might exceed your monthly profit.
  3. Recurring payment system: Several businesses today use a subscription-based model to sell products and services. This could be like OTT platform subscriptions, membership plans, or rented furniture. If you are in the subscription business, you need a payment gateway that enables repeated payments. This means your customers won’t have to make manual payments every time a payment cycle ends. A few payment gateway providers also offer advanced features that let customers upgrade plans easily, pause payments, or add new subscriptions. Before you finalise a provider, make sure they have all the services you will need.
  4. Miscellaneous fees and charges: Another key factor that you need to consider is the accumulation of non-transaction fees that gateways might charge. These could be fees for setting up your account, maintenance charges, deposit or withdrawal charges, fees for chargebacks, and more. If you are just starting and sales are not that high, these fees could bring down profitability significantly.
  5. Customer payment mode options: As an online merchant, you need to ensure that completing a transaction is as easy as possible for your customers. For this, you need a payment gateway for eCommerce that accepts payments from the maximum possible card processors and issuers as well as all types of mobile wallets. Having limited options while wanting to make payments could drive your customers away.
  6. Payment security: In case of online business platforms, fraud is a real concern. Several online shoppers are concerned that their data isn’t safe on eCommerce platforms. There are several regulations in place such as the PCI DSS (Payment Card Industry Data Security Standard) system that gateway providers must comply with. Make sure you choose a vendor that meets these standards.

Choose Payment Gateways that Secure Customer Information

The best payment gateways ensure that your data is always safe. Here is a look at some of the fundamental implementations and protocols that a payment gateway follows to provide data security:

  • Every online data transaction going through a payment gateway is conducted using an HTTPS address. The S stands for ‘secure’ and sets it apart from the average HTTP address. The transaction passes through this secure channel.
  • Due to the # function, payment gateway systems generally use signed requests from the seller for validating the transaction request. This request is in the form of a secret code word known only to the payment gateway and the merchant.
  • To ensure the payment page is secure as a result of this process, the requesting server’s IP is first verified, ensuring it detects any dangerous activity.
  • VPA or Virtual Payer Authentication is currently being backed by issuers, payment gateways and acquirers, so that the payment process is even more secure. VPA is implemented in compliance with the 3D secure protocol. It provides an additional security layer and gives online sellers and buyers easier authentication of the opposite party.

Select the Right Payment Gateway and Enjoy these Benefits

There’s more than one benefit of using the right payment gateway for your online business.

  • PCI-DSS Wallet: Compliance with PCI-DSS ensures adequate security for users to securely save personal data in the gateway or portal for easier recurring payments. This is how you can save multiple cards, UPI IDs, and mobile wallet information on a payment page.
  • White-Label Wallet: Certain types of payment gateways enable users to carry out digital transactions using mobile wallets and applications. This is among the most popular current trends as it allows users to complete multiple transactions without any hassle or friction. Money from the mobile wallet can be brought to the website and then used to complete transactions on the seller’s platform.
  • Fraud Screening Tools: Several payment gateway systems offer you fraud screening functionalities and tools to mitigate the risk of data loss. This includes the CCV, CVV and AVS numbers, among others. Providing these additional layers of security ensures that no one can carry out transactions using the card details saved on your page.

The primary focus of payment gateway systems is to create secure paths between merchants and customers and facilitate secure payments. It mandates the authentication of both parties from their respective banks.

The key benefit of a payment gateway for eCommerce website is that millions of users can use a single gateway simultaneously. This makes it possible for businesses to buy or sell products or services around the clock.

So, when looking for payment gateways for your business, keep this guide handy. With the growing level of competition in the eCommerce space, let your payment gateway solution be the differentiator. Partner with the right provider to improve customer experience and drive brand loyalty.

3 years ago
Abdulaziz Al Jouf: The Payment Orchestrator of the Middle East
Mohab Awards 0

Abdulaziz Al Jouf: The Payment Orchestrator of the Middle East

June, 2022: Abdulaziz Fahad Al Jouf is a Saudi entrepreneur and the founder and CEO of PayTabs, a revolutionary payment processing firm that he founded in Saudi Arabia in January 2014. Abdulaziz founded PayTabs after gaining extensive experience in founding previous e-commerce businesses such as SaleTab and Extabs.

His team refers to him as AA, and he is a dynamic, passionate, focused, and hands-on natural leader who is fiercely supportive of his team’s personal growth and development. He believes in giving back to the community, and he does it through mentoring emerging businesses in the area. He admits to being a risk taker who is always looking for new possibilities and making the most of them. He sees failure as a lesson in which he may gain vital experience rather than a failure.

View full media release

3 years ago