Often online shops or ecommerce platforms dwell a lot on their website design and pay lesser attention to the payment page. This drive the major reason for customers who are serious buyers to abandon a transaction or purchase at the last minute if the payment site or the system is not upto their expectation- which could mean that the payment page is slow to react or taking too much time to upload or too much time is being consumed backend for the payment gateway and payment processor to seek approval from the bank etc. Reason can be anything but the output is always disappointing for customers.
A very critical aspect today for e-merchants like BSNL that accept BSNL online payments is the mobile integration part. India had about 291.6 million smartphone users by the end of 2017 and is estimated to rise by another 50 million users by end of 2018. It has also been estimated that between 2017 and 2022 the smartphone users in India will grow by 60%. It is but obvious that subscribers or mobile users would expect their service providers to be able to offer them with the option of making payments like BSNL online payment using their handset or tablets. The smartphone literally can turn into a payment card nowadays. M-commerce is the latest craze to hit the town. Hence businesses need to think and strategize on whether to integrate mobile payments and if yes, decide upon the timeline and the relevant technology partner for the same.
The other equally important decisive aspect that merchants need to make while deciding their payment processing partner is whether to accept payments at their own site or at the payment gateway site? The latter is surely more secure as the merchant’s server or employees have no ways to access customer payment data. Also redirecting is simpler and happens instantaneously. Though this also means that the security of the transaction becomes entirely dependent on the payment partner’s security, it implies that the merchants need to be very careful while choosing their payment processing partner.
The third area of criticality for e-businesses is the different types of payment options that the business is capable of accepting. Subscribers of BSNL can use their credit cards, debit cards or net banking to make BSNL online payments.However, with changing times, customers have become more demanding than ever before. The excitement of trying newer options is high amongst customers and so are the awareness levels about safety and security of online payment methods. It is important therefore for online businesses to align themselves accordingly. Adopting newer technology to enable smoother, safer and faster transactions has become a top priority for ecommerce and online businesses. Alternate methods of payment have to be looked into and incorporated in the e-commerce portal with the changing face of technological development. Latest developments in this field pertain to the acceptance of contactless payments wherein registered users can use their phone to connect direct to in-store purchase and payments. Only a tap is enough to carry out the entire process. This mode of payment is a bit slow at the moment but is expected to gain speed eventually.