It’s Time to Activate Payments with Credit Cards and Pay Later Installments in Your Business
Credit cards were once only enjoyed by people with high-income lifestyles. With alluring benefits and increasingly easier credit card application requirements, this payment instrument is now easier for various groups of people to own and become an inseparable part of today’s life. According to data from Bank Indonesia in February 2020, it states that there are 17.6 million active credit cards, where 1 person usually has 2-3 credit cards.
Over time, with the technological advancement, the phenomenon of the “buy now, pay later” (BNPL) concept or better known as Paylater in Indonesia is becoming a new favorite payment method in the public. With registration requirements that are easier and more affordable for all people, installment payments without a credit card are predicted to be increasingly in demand in 2021. In fact, according to a study from Coherent Market Insights (link to ttps://www.coherentmarketinsights.com/market-insight/buy-now-pay-later-platforms-market-4013), the global Paylater market is expected to grow from 5 million USD in 2019, to 33.6 million USD in 2027, with an average annual growth rate (CAGR) of more than 21.2%. with an average annual growth rate (CAGR) of more than 20% to 33.6 million USD.
Wow, that’s a fantastic number, isn’t it?
Credit cards and Paylater offer customers to buy goods not necessarily in full payment but can be done in installments. This is considered to make it easier for customers to manage their monthly finances. Especially in the period before holidays, where there are a lot of additional expenses in that month. The use of credit cards and paylaters also has various benefits. Starting from the easiness in use to various interesting promos and discounts.
However, it turns out that the benefits offered by credit cards and paylaters not only apply to customers, but also to business owners. What are the benefits? Let’s talk about it further.
1. Your products are more affordable by various segments of society
We often hesitate to buy goods at relatively high prices because we cannot pay in full. You have to save 3 months first, even though you need the product right now. By offering payment methods for installments and credit cards, your products will become more affordable for buyers.
Some financial services provide special conditions for a loan like minimum salary or goods guarantee. However, the paylater only requires an Indonesian ID card to register. With the easy registration offered by installment technology without a credit card, this makes the transaction process at your online store faster.
That way, you don’t have to worry if you have to sell products at a fairly expensive price. You simply just have to market your product and customers are free to choose the payment method according to their ability to pay. The more customers have access to buy your products, the more your sales will increase!
2. A good amount of offers
Paylater facilities are still relatively new among Indonesians. Therefore, to market and socialize Paylater products, Paylater service providers such as ShopeePayLater or Indodana provide many promotions to attract potential users.
Various offers can attract customers to buy your products. Nowadays, paylater and credit cards providers are incessantly promoting. Some promos that often offered on the use of credit cards and paylaters are cashback and discounts. So, make sure your online store activates this feature!
3. Sellers will still get full payments
Due date to pay installments is also another advantage of paylaters and credit cards. Customers are free to choose the installment payment due date in accordance with the terms and conditions of the paylater or credit card provider institutions. That way, customers will be encouraged to buy your product and pay according to their financial ability.
Even though it is the buyer who chooses the amount and the due date for the payment, as a seller, you will still receive a full payment from selling your product. This is because there are third parties (banks or credit institutions) that guarantee and facilitate your transactions. So you don’t have to bother dividing payments or feel afraid that customers will not complete the payment that is his obligation. You don’t have to worry about anything!
Although credit card facilities and PayLater payments can increase purchase rate, we have to use this payment method with responsibility. Some things that should be considered before activating a credit card and installments without a credit card include:
- Get used to using your credit card and paylater balance for needs, not an impulsive spending.
- Consider other installments / mortgages that you currently have before deciding to open a payment limit.
- Keep track of your expenses and double-check before adding other expenses to your paylater and credit card.
- For recreational spending, make sure you have enough savings to pay for it in full. The installment payment method is good to use to maintain your cash flow, but you are not advised to buy beyond your financial ability for tertiary things!
Now you know that activating the payment method by credit card and paylater turns out to has a lot of benefits. To activate credit card and installment payment methods at your online store, use a payment gateway for your business. Payment gateways allow your business to accept payments from various banks, virtual accounts, credit cards, convenience stores, or even with the installment method without a credit card.
With a payment gateway, you can directly connect with a bank or installment service provider without a credit card. The payment gateway system is also equipped with a built in fraud detection system. So you don’t have to worry because your business transactions are more secure and easier for customers. Also, check here for more information about the security of accepting credit card transactions online (link to blog post 4)
Make sure the payment gateway provider you choose has been proven to be safe, PCI-DSS certified and has official legality from Bank Indonesia like Duitku. Let Duitku take care of your online transactions!
How to Accept Payments from WooCommerce on Your Website
Who doesn’t know WordPress? It is the most popular website builder platform and content management system in the world. Almost a third of the world’s websites are developed by WordPress. Selling products, services, or other things, will be easier if you can accept payments directly on your WordPress website.
For those of you who want to start a business and sell online, you can also easily turn your WordPress website into an online store by adding Woocommerce plugins. With WooCommerce, business owners, whether they are just starting out in business, to large business owners, can create an online store according to their needs and the look of the online store they want. No wonder that Woocommerce has become a favorite plugin for online shop owners overseas.
What’s more interesting about these Woocommerce plugins is they can be directly downloaded on the WordPress website for free. Besides that, these plugins are easy to use and can be integrated with various payment gateways to accept online payments. Although it sounds easy, one aspect that you must pay attention to is the security features in transacting on your Woocommerce website. Therefore, make sure the payment gateway you use to process your online transactions has a tested security system.
What is Payment Gateway and How Does it Work?
A payment gateway is an intermediary between the customer and the website so that payments can be made securely from buyer to seller. In online stores, a payment gateway still involves other institutions because it must send a request to the customer’s chosen source of funds, such as a bank or credit card company. Later, the bank or credit card company will determine whether the customer has a request for available funds. After that, they authorize the request and release the money back through the payment gateway to the seller.
Payment gateway can also be integrated into your WordPress website so that customers can complete all transactions without leaving the website or can be hosted elsewhere so that customers are redirected to the payment gateway website to complete the transaction and then return to the WooCommerce website to confirm that the transaction has been successfully completed.
Choosing the Right Payment Gateway for Your WooCommerce Store
Payment gateway can be integrated into your website in 2 ways, namely through API coding or through the addition of plugins. However, if your online store is created using a website builder platform such as Woocommerce, integration can only be done with registered payment gateway plugins. To open a payment line in a Woocommerce-based online store, you can download the payment gateway plugins to be installed directly from the Woocommerce dashboard.
Plugins Within Plugins?
Although WooCommerce is a WordPress plugin (designed to be installed on an existing WordPress website) plugins can also have their own plugins because they are computer programs that add to the functionality of a main program. So, it’s quite natural that plugins have other plugins in them. This is an easy way to add a set of features to your website.
Uniquely, the payment system accepted by Woocommerce has a unique code that is only given to third parties who have been officially registered as Woocommerce payment system partners, so not all payment gateways have access to process payments on the Woocommerce website.
How to Install a Payment Gateway in WooCommerce?
To add a payment gateway to your WooCommerce store, browse the plugins available in the official WordPress directory. Install the payment gateway plugin you want on the website dashboard and activate it. Usually, payment gateways in Indonesia require you to set up an account on the main website of the payment gateway service provider to be able to get a Merchant ID and unique API code. You will use this Merchant ID and API key to activate the payment gateway plugins on the Woocommerce dashboard to accept payments.
Through this account, you can also view transaction reports and manage where your money will be distributed. Make sure the payment gateway you are using has an official permission from Bank Indonesia and PCI-DSS (international security standard for managing credit card transactions) certification to ensure the security of your transactions.
One of the payment gateways that has been registered on the Woocommerce plugins page and meets the requirements above is Duitku. Check here for complete information on how to activate Duitku Payment Gateway step-by-step and how to integrate Duitku into your website. (link to flowchart)
In addition to payment gateway which has guaranteed security, also make sure that your woocommerce website has an SSL certification. Secure Sockets Layer (SSL) is a security certificate that allows websites to switch from HTTP to HTTPS. Later, SSL will help you encrypt traffic between your website and visitors’ web browsers so that payment transactions will be more secure.
So that’s how to accept payments from Woocomerce on your website. Even though it seems complicated, you still need to prepare it before providing payments via WordPress so that transactions are more secured.
Don’t forget to choose a woocommerce website that has a Secure Sockets Layer (SSL) security certification which allows websites to switch from HTTP to HTTPS. Later, SSL will help you encrypt traffic between your website and visitors’ web browsers so that payment transactions become more secure.
Free and fully customizable, WooCommerce is the most popular e-commerce plugin available from WordPress. With support for almost all the leading payment gateways, WooCommerce enables you to create a secure and convenient shopping experience for all your customers.
Are you ready to add WooCommerce to your website?
5 Online Business Ideas During Ramadan
The month of Ramadan, which occurs only one month a year, usually opens up a lot of business opportunities we can try. The reason is because people tend to be more consumptive during this month. Public needs during the holy month also tend to increase. Starting from the needs to always want to eat delicious food at iftar to complete their needs for Ied.
It would be too bad if we miss this opportunity that only comes once a year. Therefore, we must make the best use of it to gain the maximum profits. One way that we can do is to maximize business during the month of Ramadan. Don’t worry, the advancement of technology allows us to build an online business without having to have a shop.
However, some of you might still not sure yet of what business idea you want to do for Ramadan. Don’t worry! We have listed some ideas you can take a good look at. Let’s read until the end.
1. Selling takjil or food for Iftar
During the month of Ramadan, Muslims are required to fast. Because they have to endure hunger and thirst for a long time, it causes craving for a variety of foods. Takjil is a regular snack for Iftar. The takjil menu is usually sweet. It is to restore the energy lost after the fasting all day. That’s why takjil is the menu most people are looking for during Ramadan.
Therefore, you can seek and maximize your opportunities in this business. For example, by selling a variety of fresh drinks such as juice, compote, or even sweet appetizers such as dates or pudding. You can even sell various fried foods for Iftar. Since Iftar is one of special moments spent with family, we will usually also want to celebrate it with special dishes.
2. Selling clothes
The culture of wearing new clothes on Eid is a tradition that is still carried out today. Therefore, the month of Ramadan is usually used as a time to find new clothes. In fact, people don’t just buy clothes for themselves, but for their relatives, family and parents.
You can start selling clothes which have the theme of Eid, such as robes, caps, abaya, sarongs, to mukena. Surely, your clothing business will sell well because the purchase rate is also high.
3. Selling hampers for Eid
Nowadays, sending each other hampers is something that almost everyone loves to do. Especially during this pandemic where we cannot meet each other. However, we can still send hampers to our friends or relatives as the mean to keep in touch and as a form of our care.
That is why selling hampers is one of the business ideas that open the biggest opportunities during Ramadan. Still not sure yet of what kind hampers ypu want to sell? You can sell hampers consisting of pastries or basic necessities to make it useful for the receiver. Not a few sellers are also starting to make creative hampers such as hampers consisting of herbs, ramen, air freshener, and others. Anyway, you can adjust according to your popular product sales. You can also provide masks or hand sanitizers in your hampers as a form of your concern during this pandemic.
4. Selling pastries
Do you like making pastries? This is a golden opportunity for you! Since pastry is one of the most wanted goods during the month of Ramadan. Because pastries are closely related to the theme of Ramadan and Eid, they can usually be served when someone visits our place to stay in touch.
However, you can also make pastries as gifts for friends, relatives or families. There are so many variants of pastries that you can make. Starting from nastar, sagu keju, putri salju, and many others, and to learn how to make it is also quite easy. You can search for YouTube videos which allows you to learn how to make pastries and get some tips to make your cooking even better!
5. Provide catering for sahoor
Do you like cooking at home? Then this tip is for you! You can sell your home cooking into catering for sahoor. Moreover, people tend to not want to cook in the early hours because of the sleepiness and some see it as unpractical. Therefore, providing catering for sahoor can be a very profitable business idea.
In this sophisticated era, you don’t need to worry about shipping because there is an online motorcycle taxi service that will make your business easier. So, all you have to do is cook and prepare food for sahoor to be delivered to your customer’s location.
Those are some business ideas that you can do during the month of Ramadan. There are quite a lot of business you can do, aren’t there? So, let’s start on planning your business from now on to get maximum profit!
However, a complicated shopping process often makes people feel discourage to buy your product. Especially when there are only certain payments methods available. Sigh, surely the customers will feel more annoyed.
Therefore, use a payment gateway to provide an easy and fast shopping experience. To provide an easy shopping experience, you need the right business partner, like Duitku. With Duitku, your business transactions will run automatically. Not only makes it easier for buyers, but also for you! We believe that with Duitku everything sets quickly!
5 Ways to Maximize Eid Sales
The month of Ramadan has arrived! Can you believe it? In addition to being a month to focus more on worshipping, Ramadan is also a good momentum to develop your business! This is because needs during this month tends to increase so that the public consumption must also increase. There are so many businesses that you can run during the holy month. Starting from a well-prepared business to an impromptu one.
You might think that an impromptu business will not last long, and the profit you get is not much. However, it is a fact that an impromptu business is no less profitable then the well-prepared one. There are so many impromptu businesses that you can run during Ramadan.
Starting from the business of pastries, fashion, hampers, Ramadan foods, to providing catering for sahoor. You can also give some discount and Ramadan promos. During this month, people usually meet their needs for the upcoming holiday. So, this is your chance to maximize sales in Ramadan to gain maximum profits.
The number of businesses that are increasingly emerging in the month of Ramadan makes the competition even fiercer. To overcome the existing competition, you need to follow the surefire tips to maximize your sales. Let’s discuss 4 tips that you can do to maximize your business in the month of Ramadan. Please, read until the end.
1. Preparing Ideas of Ramadan Edition Products
Making ideas on products for the Ramadan edition is a must. Because then, customers will think that the product has a limited offer so they have to buy it immediately. In addition, Ramadan edition products are also suitable to be sent as hampers for friends, relatives, and even family.
To make a Ramadan edition product, you can prepare your store’s favorite products that are packaged with a new look that matches the spirit of Ied, or you can also introduce new special Ramadan products. This is considered to increase exposure to new products, and repeat purchases for your business’s favorite products. By making Ramadan edition products, your sales will definitely be selling well!
2. Promote Your Products
One thing that should not be missed is promotions. With promotions, your products will be better known by potential buyers. However, you have to prepare a different promotional strategy during the month of Ramadan.
This is because, according to data by iPrice, during Ramadan, Indonesians are seen shopping online more during working hours. People are also actively shopping online from 10 – 11 am and 4-5 pm. 4 – 5 pm is usually when many are home early due to changes in work hours, and spend the time before iftar with their families later in the evening. You can maximize the promotion time in these hours to get maximum profit.
For example, making promotions with the atmosphere of Eid in the form of discounts at sahoor time or making games while hanging out or waiting for iftar. This will certainly attract buyers and they will be more excited to shop! Don’t forget to use Eid-themed hashtags, such as; #hamperslebaran #hamperslebaran2021 or even #hampers(location where you live) so that your products are easier to find. Also check out other promotional tips to boost your online sales (link to the March 3 blog post article: https://www.duitku.com/strategy-to-meningkatkan-penjualan-di-toko-online/ )
3. Use E-Commerce and E-Wallet
Competition for e-commerce and e-wallet is increasing every day. It is possible that, in the month of Ramadan, they will continue to compete and carry out various promotions and cashbacks to attract buyers. Don’t miss this opportunity by using e-commerce and e-wallet! To do this, you need to maximize the use of features in e-commerce. For example, by participating in flash sales or live sale streaming, so you can reach more potential buyers from various segments.
E-wallet providers are also always innovating for the better to make transactions easier for their users, starting from paying using a scanned QR code to the paylater service where you can still do a purchase even when there is no balance in your account. Not only that, the increasingly fierce competition of e-wallet providers in Indonesia has made them compete to carry out promotions and cashback programs. So, make sure your business is ready to accept payments by e-wallet to facilitate and encourage customers to shop on your online stores.
4. Provide an Easy and Convenient Shopping Experience
During the month of Ramadan, sometimes shoppers order goods when the Ied day is approaching despite the fact that orders in the month of Ramadan usually tend to increase. This causes sellers overwhelmed at handling their business that can lead them to miss many transactions or loads of deals to not taken care of. You surely do not want your customers to shop on other stores because they have to wait for your response as a seller to process the order.
Therefore, you can speed up the checkout system on your online store. One of them is by automating the transaction process in your business with a payment gateway. A payment gateway allows all your business transactions to run safely, quickly, and automatically. So, customer does not have to contact the seller just to ask about payment methods or send payment receipts. Therefore, you can focus more on packing and managing orders. Finally, the goods will be sent faster! Not only it makes customers happy, but you will also gain your profit faster!
5. Provide Various Payment Options to facilitate Buyers
The number of new things that must be purchased and prepared by the public to welcome Eid sometimes makes their cash flow problematic. One way to facilitate customers in finishing their purchases during Ramadan is to offer credit or installment payments so that customers can manage their monthly expenses more freely.
In addition to banking credit card payment lines, there are currently very widespread paylater payment lines or installments without a credit card. Although the Paylater payment method is considered to make people more consumptive, the fact is that payments with installment facilities can help consumers to manage their financial flows so that they can always be ready to face unexpected expenses!
To receive various payments directly on your website, you can use payment gateway technology! With a payment gateway, you can directly connect with a bank or installment service provider without a credit card. A payment gateway system is also equipped with a built in fraud detection system so that your transactions are guaranteed to be more secure. The more customers who have access to buy your products, the more your sales will increase!
However, you should not carelessly choose any payment gateway service provider as your business partner. Make sure the payment gateway has official legality from Bank Indonesia and meets international security standards like Duitku. (link to homepage)
Those are 4 things you can do to maximize your business during the holy month of Ramadan. The month is a good time to maximize your business because people tend to shop a lot during this period to meet their needs until the upcoming holiday.
So, to maximize your business, start automating your checkout process so you can focus on growing your business and reach the maximum profits in Ramadan. Let Duitku take care of your business transactions!
Considers These 5 Things before Accepting Online Credit Card Payments
Do you want to sell products at high prices but are afraid that buyers will object because they have to pay in full? Are you interested in making it easier for customers by providing a credit card payment system but worried for being scammed? Sigh, it feels like that one song by an Indonesian Singer Raisa, “All I do is wrong!”
Nowadays, almost everyone has a credit card. Besides being easy and practical, credit cards provide millions of benefits for their users. Starting from the easiness in transactions, efficient because there are many promotions and cashbacks, installment programs, and so on.
But behind the many benefits offered, entrepreneur still have to be vigilant. The reason is crimes with credit card fraud mode is the most often to occur. In order to feel more secure when opening a payment line with a credit card, let’s dig deeper into 5 things that must be considered before accepting credit card payments at online stores in the following article. Please, read until the end.
1. Enable Three-Factor Authentication
Three-factor authentication is a must thing to activate if you provide credit card payments. This is because it can minimize the risk of fraud since it requires users to confirm the user’s claimed identity using a combination of three different factors.
The first factor is the card’s expiration date and the second is the 3 digit number on the back of the credit card (CVV). Since September 2015, Bank Indonesia has required online credit card transactions to use the One Time Password (OTP) media, which is sent via short message to a registered mobile number, to authenticate transactions, that’s the third factor. This way, we can be sure that the identity of the registered credit card user won’t be misused.
2. Give Credit Limit or Transaction Limit
To minimize losses, you can activate a credit limit or transaction nominal limit. That way, payments made by credit cards will be in accordance with the limits that you have previously set.
For example, if you set a transaction limit of 5 million rupiah, purchases using a credit card above 5 million rupiah will not be allowed. That way, if you happen to be deceived, the loss won’t be too big. In addition, this method can also detect unusual transaction activities that occur in your business. Therefore, not only customers will feel secure, but so will you, since all your business transaction activities will automatically be well monitored.
3. Choose your Credit Card User Region
Selecting the region for credit card users is mandatory if you accept credit card payments. You can also limit the area of credit card users that you can accept with regional inclusion or exclusion.
For example, if you have an online business in Indonesia, you only serve orders and deliveries in Asian countries. You can activate the region only for Asian states. So, other states like; Europe, America, Australia, Africa, and so on will not be able to make purchases using a credit card. Of course, this is very effective when done to reduce the risk of fraud. Say good bye to fraudster and thief!
4. Activate Address Verification System
What do you feel when you are happy because you just did your order delivery and suddenly the transaction failed because the payment made is a fraud? Surely, you don’t want that to happen, do you?
If you don’t want that to happen, it is a must to activate the Address Verification System (AVS) when accepting credit card payments. The address verification system requires the user to enter an address that has been registered as a billing address. By activating the address verification system, you can minimize the risk of fraud because you can track the address when it happens to be a fraud. In addition, this data can be used as a billing address if the payment is not successful. So, you don’t have to worry too much.
5. Make sure the Payment Gateway you use has a PCIDSS certificate
Payment Gateway is a technology to make it easier for your business to accept online payments from websites or apps. The payment gateway functions as a channel that connects your holding account to the platform where you make transactions. A payment gateway is also the one that allows you to accept payments by credit card.
Payment gateway offers various conveniences for all transactions, but you also have to pay attention to the security certificate owned by the payment gateway you are using. Make sure your payment gateway has a payment card industry data security standard certificate such as PCI-DSS (link to https://en.wikipedia.org/wiki/Payment_Card_Industry_Data_Security_Standard).
The certificate indicates that the payment gateway that you use can maintain credit card data and personal identity used by customers to make payments. So customers will feel secure and comfortable when making transactions on your website because their data is guaranteed to not leak. You will of course also minimize the problem of data leakage from your online business.
Those are 5 things to consider before accepting credit card payments online. For those of you who are interested in adding an online payment method with a credit card, you can use a payment gateway for your business. But keep in mind that you must be careful in choosing the payment gateway.
Make sure the payment gateway you choose is officially licensed by Bank Indonesia and meets international security standards such as Duitku (link to homepage). Whatever the transaction is, Duitku is the answer!
Strategies to Boost Your Sales in Online Store
Do you know that today, owning a business is not a difficult thing to achieve? This happens because of the rapid technological advancement, allowing you to sell anything online with the help of the internet. With the internet, you can easily start your business. Starting from looking for raw materials or suppliers, doing promotions, setting up shops, to connecting people to sell your business. Everything can be done online. You can start a business without having to own a store or a large number of employees. You can even run your own business! Now, who’s interested in setting up an online business?
Although making an online business look easy and can be run by anyone, it doesn’t mean it can be taken lightly. Even with technological advances that offer various conveniences, you don’t want to be careless in making sales. A special strategy is needed so that your business can gain more money and survive amid the onslaught of online business that grows increasingly in Indonesia. Surely, you don’t want your online business to lose out on the competition.
Therefore, you must prepare various strategies to increase sales on your online store. Do you want to know the tips? Let’s follow these 5 tips to gain maximum profits on your online business!
1. Hold Product Bundling and Loyalty Programs
Your shop has a best-selling product? Well, you can make bundles containing your favorite products with a cheaper price and a limited time. So, potential buyers will feel compelled to buy the product because they feel that the goods offered are products with limited offers.
You can also create product bundles that contain your favorite products and products that have just been launched. This is expected to increase exposure for products that have just been launched. Then your online store sales will most likely increase!
Your online store doesn’t have a favorite product yet? It’s alright! You can also create a loyalty program for your loyal customers. For instance, by giving gifts or discounts. Thus, potential buyers will be more encouraged to proceed on shopping at your online store.
2. Make Ads For Promotions
Promotion is something that must be done when you have a business. That way, the products you sell will be increasingly recognized and attract buyers. There are so many the promotion platfroms and ideas you can do nowadays. You can do promotions on Facebook or Instagram ads to introduce your products, or you can even do endorsements or paid promotions by influencers that you think are suitable for your business. That way, your product will be more known by the public.
All promotional channel choices have their own advantages and disadvantages. Decide for yourself which promotions are best and suitable for your business and don’t be afraid in determining the budget for promotions because only by promoting can your product be more known and allows customers to buy.
3. Maximize Features in E-commerce and E-wallet
Do you know that the rapid growth of e-commerce and e-wallet indirectly helps the development of online stores? This is due to the increasingly complete e-commerce features. Therefore, you need to maximize the use of these features. For example, by participating in flash sales, live sale streaming, and so on so that you can reach potential buyers from various segments.
The development of e-wallet also does not make the payment methods left behind. E-wallet always innovates for the better to make transactions easier for its users, starting from paying using a scanned QR code, to paylater, a method where you can do a purchase even when you have no balance. In addition, the increasingly fierce competition of e-wallet providers in Indonesia has made them compete to carry out promotions and cashback programs. You can contact the e-wallet provider that you use to apply for the cashback program. So, make sure your online store accepts payments by e-wallet.
4. Use Google Analytics and Google Trends
Are you still not sure yet about what online business to start? You can also use the help of Google tools to increase your sales, such as Google Analytics and Google Trends. Google Trends allows you to find out what keywords are being accessed frequently. From there, you can see what product trends are often sought after and in demand by the public. Voila! Now you can choose the products that you can prepare for your business!
Besides Google Trends, there is also Google Analytics which is useful for finding out what search keywords are often used by potential buyers to find the products you sell. You can add these keywords to your product name to increase the exposure of your selling product. The more people find your products online, the more potential buyers you might have!
5. Make it easy for customers to make payments for your products
According to Microsoft research (hyperlink to https://core.ac.uk/download/pdf/215279457.pdf), 60% of shoppers admit to making impulsive purchases more than once per month. The complication of the check-out process or the lack of payment methods provided sometimes makes customers unwilling to make transactions and they end up not buying your products.
One of the things that sellers can do to provide a seamless shopping experience is to integrate the checkout process and payment for your online store directly on your website or application using a payment gateway. A payment gateway is a technology to make it easier for your business to accept online payments from a website or app. A payment gateway functions as a channel that connects the holding account to the platform where you make transactions, so you don’t need to provide multiple accounts for your business transactions.
By using a payment gateway, all your business transactions will take place online automatically, so customers can make transactions anytime and anywhere easily. So, you can focus on growing your business without having to waste your time handling transactions in your business. Check here (link to an example blog post) for more detailed information on how a payment gateway can encourage potential buyers to purchase your product online.
Those are 5 things you can do to reach maximum profits on your online business. Now, are you interested in doing it or do you have your own tips?
Increasing sales at online stores is indeed easy and difficult at the same time. However, it all depends on how we deal with it. For that, choose the right partner to develop your online store, such as Duitku (link to homepage). With Duitku, you will enjoy various conveniences to manage all your business transactions. You don’t need to worry because Duitku has an official permission from Bank Indonesia and meets international security standards. We believe that with Duitku, all your business transactions will be faster, easier, and won’t be complicated. Let’s start your success with one transaction!
7 Things You Should Consider before Choosing a Payment Gateway
Accepting online payments is a must-have feature for every business. This is useful to make it easier for customers to shop directly on your website or online business app. Therefore, it is very important for a business to integrate this feature by using a payment gateway. A payment gateway will become a bridge between your business and customers, so that all online payment transactions can be done more easily and efficiently.
Even so, in the midst of the variety of payment gateway service options available, you still need to be careful in determining which payment gateway to use. Many people want a quick and easy way, so they just choose any service that might be unsafe for their business and their customers, that makes the transaction process in your business becomes more complicated instead.
Therefore, you should consider the following things before choosing a payment gateway. What are they? let’s discuss them one by one!
1. Security
In conducting an online transaction, customer’s identity and credit card data are the most vulnerable to being stolen by third parties. For that, the security of the payment gateway system is the first thing you should pay attention to.
Make sure that the service you choose has fraud detection and has followed the Payment Card Industry Data Security Standard which can protect credit card data and personal identity used by customers to make payments. In addition, in terms of the security of your own website, make sure that your website uses https.
Read more about the difference between http and https domain URLs (link to an external article https://www.niagahoster.co.id/blog/difference-http-dan-https/)
Don’t let your website to be considered a phishing website because it leaks the customers’ data. For more details, check some of the security standard certifications that payment gateways must have to ensure the security of your transactions. (link to next blog post)
2. Ease of Integration (Compatibility)
Besides security, you also have to pay attention to whether the payment gateway system you choose supports the platform you are using as your online business template. There are 2 types of integration methods that you can do, namely the use of API (Application Programming Interface) or plugins.
API is the integration of other products or services on the website/application that you develop through coding. This integration is chosen if you make your own website from scratch. While ‘plugin’ is an option that you can choose if you use a pre-existing template, such as from wordpress, magento, and so on. These templates usually provide extensions that you can directly add in the form of plugins.
From here, you can consider the length of time needed to carry out the integration process. Remember, the faster the process, the faster you can receive payments directly on your website!
3. UI & Usability
In addition to security and easiness in integration, the User Interface (UI) is also a very important thing to pay attention to. Because, UI plays an important role in the easiness and convenience of customers when making transactions or payments. There are two display options that you can consider, namely black hat and white hat.
With black hat, a customer will be directed to the payment gateway’s payment page when making a payment. Meanwhile the white hat, the payment gateway system is integrated directly into the seller’s website and payments can be made directly on the merchant’s website check-out page. So, you can choose according to your business needs!
4. Choice of Payment Channels
When a product catches your attention and you check the payment method, what if it turns out that you can only pay from, let’s say, bank A? or if it uses an e-wallet, what if you haven’t topped yours? So, will you still buy?
In this scenario, the choice of payment channel is something that you must pay attention to. This is because an incomplete payment method can discourage potential buyers from continuing transactions at your online store. So, make sure your payment gateway provides a variety of payment channel options.
Don’t just pay attention to different types of banks, but also to whether the payment gateway you choose can accept payments via credit/debit cards, virtual accounts, retail outlets or e-wallet. Remember, the more choices available, the easier the transaction for your customers will become.
5. Legality from Bank Indonesia
Legality is also an important factor you need to pay attention to. By using a payment gateway officially licensed by Bank Indonesia, you can gain the trust of new customers in your online business, because the security of their transactions has been guaranteed by Indonesia’s official national bank.
From the seller’s point of view, this will also make you feel secure because you are sure that the place where you receive the money is officially licensed by the government. There would be no fear of money lost or worry that you cannot withdraw it from the dashboard. So, make sure the payment gateway you choose is officially licensed by Bank Indonesia.
6. Prices and Other Fees
Don’t forget to make sure what fees you have to pay, as well as the nominal amount. You also have to make sure the payment gateway does not have other hidden costs, such as installation fees, monthly maintenance fees, and bank fees. Don’t forget to make sure that the price listed includes VAT so that your calculations are more precise.
Calculate and determine which payment gateway service is most suitable for your business. Don’t want to make a profit instead you become stumped!
7. Complaints and Customer Service
Make sure the payment gateway you choose has an easy-to-contact customer service line, so that if you have questions regarding registration, integration, or operations, someone will assist you in answering all your questions.
You don’t want to wait days just to get answers about customers’ transaction details that leads to an order that cannot be processed, or have to delay your integration process because your technical questions are being ignored.
The purpose of using a payment gateway is to simplify all transactions in your business. Therefore, it is important to choose and integrate the best payment gateway so that your business payments run online and automatically. Don’t let the payment gateway you choose make your online business management more complicated instead because you have to handle your customer’s complaints or problems in transactions. An easy and reliable payment process will encourage customers to complete the checkout process and transactions.
Finally, make sure the payment gateway you choose has officially received a permission from Bank Indonesia and meets international security standards such as Duitku (hyperlink to the homepage).
You got issues with your business transactions? Let Duitku take care of it!
5 Reasons Why Your Business Needs a Payment Gateway
There are so many things you have to do in running a business. Starting from doing product research, managing production, checking product stock, advertising products, shipping, answering questions from customers, and many more. Especially for those of you who are just starting a business, it must be very tiring to do everything by yourself.
One thing you can do to lighten your workload is to automate your business payment process. Payment automation will make it easier for you to provide a fast, safe and easy payment process. This will allow customers to have a seamless online shopping experience thereby driving retention and attracting customers to make transactions. If customer retention and growth increase, then your business will also grow quickly! Without a doubt, it’s something every entrepreneur would ever dream of. Therefore, let’s do payment automation by utilizing an innovation called Payment Gateway.
What is a Payment Gateway?
Payment Gateway is a technology to make it easier for your business to accept online payments from websites or applications. Payment gateway functions as a channel that connects the holding account to the platform where you make transactions. Later, the payment system will be automated so you don’t have to bother confirming the transfer receipt with the mutation list again.
Not only does it save time, payment gateway also has several other functions to make the checkout process and payments for your online store easier. What are the other functions? Let’s discuss about them further!
1. Easy Transaction
As time goes by, payment methods are becoming increasingly diverse. Financial transactions are not only in the form of cash, debit or credit cards, but also vary to other methods, such as internet banking and e-wallet.
By using a payment gateway, you will find it easy to accept any payment method so that customers feel free to choose any payment method they want.
2. No Need to Have Multiple Bank Accounts
With a payment gateway, you can provide various payment methods without having to open a new bank account. Because, the money will be collected in one dashboard. You don’t have to bother opening accounts at various banks or e-wallets to facilitate each of your customer’s payment lines.
With one payment channel, you will no longer hassle about managing various accounts. Without a doubt, recording and managing your online business will be more practical and neat.
3. Safer Transactions
Transacting through a Payment Gateway will make you feel more secure. From the seller’s point of view, there is no more forgery of payment receipts because all transfers are checked automatically by the system, while from the customer’s perspective, they will give more trust to make transactions at your online store.
This is because the payment gateway is connected to a number of trusted banks and is equipped with a Fraud Detection System that can detect fraud. There will be no more incidents of being contacted by a bank for allegedly committing fraud!
4. Minimizing Transaction Errors
A payment gateway is able to minimize transaction errors because the nominal transaction will automatically appear when a customer wants to make a payment. Later, the customer just has to pay according to the nominal shown so you don’t have to worry about an inaccuracy of amount when making payments and orders can be processed as soon as possible.
5. Simplify the Shopping Experience for Shoppers
With a payment gateway, you don’t need to wait for a manual transaction confirmation. When a customer has paid, the order will be automatically confirmed so that the order can be processed immediately. You might want to also know: A seamless shopping experience can increase the sales of your online store!
Well, there are a lot of benefits you will get from using a Payment Gateway? Not only it makes transaction easier for business owners, Payment Gateway also makes it easier for customers. By using a Payment Gateway, your business will grow thanks to the simplicity in transactions it offers.
Although payment gateway is considered practical and able to facilitate business transaction activities, you still need to be cautious in choosing the right payment gateway. Because it is the key that determines the smoothness of your online transactions. Also, make sure that the payment gateway you choose is officially licensed by Bank Indonesia, such as Duitku.
Whatever the transaction is, Duitku is the answer!