Experience matters. The way it does in our work, skills and life in general, experience matters in digital payments as well. There is enough anecdotal evidence on how a good payments experience helps increase sales and revenue for an online business.
Think about it yourself. Aren’t you more likely to revisit a website or app if you experienced smooth and easy payments while completing a purchase? On the other hand, a broken experience wherein you were unable to complete a payment will put you off from that website or app forever.
No merchant or business wants to be at the receiving end of the latter scenario. Which is why it becomes of utmost importance for a bank to enhance the payments experience for their merchants.
A bank can make sure their merchants provide a great payments experience by integrating a sophisticated payment gateway like FSS Payment Gateway .
Powered by Blaze, the FSS Payments Technology Platform, the payment gateway is built to scale, adapt and succeed. A full-stack, white label solution, FSS Payment Gateway comes with the following features that can take payments experience up a notch or few.
Support multiple payment methods
Happy customers are customers who are able to pay the way they want. Limiting payment methods can lead to drop-offs, which a merchant can address by offering multiple payment methods.
With FSS Payment Gateway, banks can enable their merchants to accept payments via all major card networks, UPI, netbanking and more. Not everyone prefers to pay the same way, making it important for a merchant to offer options that cater to a wide customer base.
Scale on demand
Nothing makes a payment experience poorer than payment failures. They can happen because of technical glitches, server issues or even an overload of transactions. The reason could be anything, but a payment failure can lead to the loss of a customer.
Which is why banks need to provide their merchants with a scalable payment gateway like FSS Payment Gateway. With the capacity to handle >5,000 TPS (transactions per second), FSS Payment Gateway ensures that payment failures are the last thing a merchant needs to worry about. This becomes even more important during peak hours and high traffic times, when merchants need a payment gateway that is dependable and works at the speed of commerce.
Offer quick check-out options
We live in an era of instant everything. Instant gratification is the name of the game; we expect everything to be fast. And payments have to follow suit. When a customer is making an online purchase, she doesn’t want to be jumping through hoops to complete the transaction.
FSS Payment Gateway comes with features that allow merchants to accept payments in a few clicks. With options like QR Codes, Link-based Payments, Single-click Checkout and Pay Now Buttons, FSS Payment Gateway empowers merchants to accept payments instantly through various modes.
Prioritize security in payments
While digital payments have a ton of positives, they do come with the risks of fraud and security breaches. As the adoption of digital payments has grown, customers have also become wary of giving out their payment details. Banks can help merchants in this aspect by integrating a highly secure payment gateway.
All transactions on the FSS Payment Gateway are secured through two-factor authentication, end-to-end encryption and tokenisation. The payment gateway also offers a 3D Secure plug-in for authenticating cardholders and reducing disputed transactions and chargebacks.
Simplify recurring payments
A growing number of businesses offer subscription services these days. Subscriptions are a great way for businesses to retain customers and enhance customer lifetime value. From a customer’s perspective, subscriptions make it easy for them to make recurring purchases without having to transact again and again.
FSS Payment Gateway provides support for scheduled and recurring payments for all types of merchants. Merchants can accept payments through EMIs, standing instructions (SI) and AutoPay.
These are some ways by which banks can help merchants with their payments experience. In an increasingly competitive ecommerce era, a brilliant payments experience can often be a brand’s USP. And by providing that through the FSS Payment Gateway, a bank can also get the competitive edge it needs. Win-win.
