In
today’s internet era, it is essential to have an online payment gateway
facility on to your website. This is not just any simple advice; rather it is
my own experience that I will want to share. Connecting with a PSP – payment
service provider for an online payment facility gave me the much-needed hype in
my business that I have been looking for when start-ups started challenging me!
Starting My Business And Facing
Competition
After
putting together a website, I had no clue where to begin things with. Thus, I
had limited options and thus relied on what was on the hype. When I started my
online business, I used PayPal and checks. That gave me some sales, but also
the website analysis reports showed around 60% of bouncing back traffic – the
primary reason being some of my prospective customers didn’t have a PayPal
account!
During
the first two year, I did a bit of promotion all by myself and started gaining
traffic. But on the 3rd year of my business, many start-ups came up
with much more added facilities and one of the most lucrative options was to
allow customers use e-wallets and online payment gateways. So customers just
shifted from my website to theirs and used their credit cards for making
transactions.
The Transition Phase – Enriching My
Website With Extended Facilities
When
you are in business, you know the market trends and you target a specific genre
of the population – the lower middle class, the middle class or the upper
class. Now, majority of the population belong to the middle class – my targeted
market. But seeing them shift from my company not only stressed me but it also
lowered the reputation I gained. While this might not be feasible for customers
who were along with me right from the beginning, but it was definitely for the
new and prospective ones – the 60% of bouncing traffic from my website!
This
made me take my search over to Google and I did an extensive research on
things. I even consulted Digital Marketers and I am glad I did. They helped me
with some valuable info that I never thought of before!
My
line of business relatively had lower competition, and optimizing my website
was the first step. I took their help; no I didn’t sign up with any SEO
company, but got a list of keywords. Then I started optimizing them. Next, they
asked me to get an offshore merchant account from a PSP payment service provider. They simply said that, offshore merchant
account is always the best bet as it can help me expand my business globally
and also avoid certain taxes and fines! Moreover, the facilities such PSPs can
offer will be secure as well have an excellent uptime and I will have the
option to receive payments in any currency! So I implemented all of it, that
was easy to do, and even included and e-wallet.
My Experience – You Can Get The Same
The
result that my website yielded regarding sales got better and better day by
day! Each day I started seeing around $100 funding (after 3 months of getting
the payment gateway implemented) in my e-wallet along with many enquiry forms from
many customers. As the inflow of orders increased, I hired a website
maintenance guy and a few customer support executive.
Having
an e-wallet as well as a separate payment gateway attached to a cart even
decreased the bouncing back traffic by 44.6%! That’s way more than my
expectations! Today, I am on the verge of hiring more employees and I am soon
taking my business abroad.
In A Nutshell
So,
if you are also looking to make your online business stand apart, make sure to
get a merchant account along with a payment gateway from a 4 Points on how iPayDNA as a PSP Payment Service Provider Helps You. Dear readers, while my experience can help you get an idea and boost
your enthusiasm, I will also want you to keep your hopes high while doing
business online. If you have any queries, feel free to ask me in the comments.
I will be more than happy to help you in any and every way possible.
For
more information explore our Social Media page: https://www.facebook.com/ipaydna
Good
Things Are Always Just A Search Away
Philip Jackson
Philip Jackson
