Online Payments - 5 Most Common Misconceptions

It is common for people to have misconceptions about ideas or things that they don't fully understand. Online payments are unfortunately one area that is currently in this category.

These are the 5 most common false beliefs that we hold on them, followed by the facts.

1. These are not easy to set up. Many people assume that since online payments can be complicated, it means that installing them on a website will be difficult. It is false as Peach Pay many shopping carts integrate with major payment service providers (PSP). It is often enough to fill out a setup form and then you can start.

2. Although they are costly, this can be subjective as different people may interpret expensive differently. However, online payments don't have to cost a lot. Most cases will require you to pay set fees and additional charges for the gateway and merchant account. Many PSP's Online Rent Payment Software offer discounts that include large transactions in their monthly fees, which makes it more affordable for small e-commerce companies to process payments this way.

3. Online payments can only be accepted by established businesses - this is a common misconception. As businesses can accept payments online, individuals can also make them. You can sell any product or service as long as your website is up and running.

4. They aren't safe. While it is true that online payment can be targeted by cyber criminals it is also true to some extent that this type of fraud has fallen to its lowest point ever due to the hard work and dedication of all involved. There is no difference in terms of risk between taking a card payment online and doing it in-store. Anyone who accepts online payments has a variety of tools to protect their website. PSP's have extremely robust software and technical solutions that help to stop criminals.

5. Customers are more comfortable buying in "real" shops. This is a long-standing trend. We are seeing the exact opposite right now - customers visit shops to view items and then purchase them online. Online transactions are increasingly popular with shoppers. It is becoming more common for businesses to have an online presence and be able accept payments online.

Many businesses can benefit from online payments. However, many start-ups don't bother with traditional channels of payment. Many people are still unaware of their capabilities and how they work. We hope this article will help change that.