Payment systems explained

Online payment systems enable merchants to accommodate ecommerce transactions of their goods or services, without the use of cash.

Online payment systems – what are they?

Online payment systems enable merchants to accommodate ecommerce transactions of their goods or services, without the use of cash. This form of purchasing has gained tremendous momentum in recent years and continues to do so due to its convenience and ability to allow for 24/7 shopping capabilities. Although there are various options for internet-based payments, the most popular transaction type includes those made with credit and debit cards.

Ecentric specialises in online payment systems that assist businesses in a variety of industries to accept safe and secure financial transactions through electronic devices used in the comfort of the consumers own space, such as computers, smartphones and tablets.

How do they work?

An online payment system works by facilitating the transaction by securely relaying and encrypting transaction information between the necessary parties to confirm the following:

001

The legitimacy of the chosen payment method, for example, the validity of the cardholders provided information.

002

The issuing bank involved in the transaction.

003

There are sufficient funds for the transaction to occur.

004

That the transaction is not flagged as fraudulent, to ensure the safety of all parties involved.

The advantages of using the Ecentric online payment system:

They are automated

Our leading online payment system includes tokenisation and encryption to ensure the total safety of all data that passes through the process. This allows for peace of mind to both merchants and consumers using our payment gateway portal for their online purchases.

Compliance

Ecentric’s payment systems are fully PCI DSS compliant which ensures that industry-certified protection features are present in our solutions. This compliance limits access to sensitive payment information to mitigate fraud and secure the transaction.

Customisation capabilities

While some of our online payment systems reroute to external website pages, we offer full customisation of this platform for a seamless user experience. These platforms can be customised with business branding and specific colours.

Convenience

Our online payment system can be configured with additional features to promote a more user-friendly experience. Our portal allows customers access to their personal transaction information, previous and current invoices, purchasing history and more.

Competitive advantage

Utilising our e-commerce platform for your business offers a definitive edge over competitors who may not have branched to this platform just yet. The simplicity of our internet-based processes entices customers and promotes business growth.

Allows for 24/7 sales

The convenience of online payment systems stems from their ability to run successfully without the need for constant human interference. Ecentric’s systems can flawlessly function at all times of the day, which allows customers to shop and pay from anywhere, at any time.

Access to consumer behaviour

The analytical capability of online purchases allows merchants to better track their online purchases, popular products, peak purchasing times and other important information that can aid them in making informed financial and marketing decisions.

If you are interested in establishing online payment systems for your business, we can assist. Our innovative leading payment systems can be utilised for a variety of businesses in many industries for effective and secure online transactions. Get in touch with our team for more information.

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