Are you a small business owner who promotes his services and goods in the digital space? Do you have a check-out platform on your website to receive payments from your online platform?
eCommerce is rapidly expanding across the globe and is here to stay. Established businesses are under cut-throat competition, trying to outdo each other to stay afloat while trying to venture into new markets.
Small businesses are under the heat, but this is no more.
To stay afloat in business and maximize profits while cutting down on costs and operational expenses must be minimal. With the rising cost of living, more companies have adopted eCommerce platforms to run their business.
Business owners are adopting eCommerce to do business globally without a physical store, employees, and overhead expenses.
In Kenya today, most eCommerce platforms rely on payments based on cash after delivery or mobile money wallets.
These payments are highly prone to fraud, security risks, and boundary restrictions. It’s a big challenge on payment processing when a small business wants to venture into the regional or international market.
How Ecommerce Solutions Work for Businesses Without Websites
Co-op Bank now runs an online card payment solution to make your business thrive at no extra cost. If you conduct business on digital platforms, you can receive online card payments from your customers.
You can accept payments from any location on the globe without a check-out platform integration or website.
Co-op Bank offers online payment solutions to businesses, giving them room to expand and venture across the borders. They are providing a secure and conducive platform to conduct business.
Here is a step by guide on how the online payments solutions work:
- A business owner registers with Co-op Bank to get a unique link known as Pay-By-Link, which they use to invoice their clients.
- A potential customer contacts the business owner and agrees on the desired good or service pricing.
- Next, the business owner will send the unique payment link to the client’s emails address.
- The customer receives the unique link via email. Upon opening the email, they are directed to a portal to input their card details and process the payments.
- The trader receives a notification via email and SMS with the details of the payments.
- If the customer has subscribed to SMS alerts with the service provider, they receive a notification informing them of the purchase.
How Ecommerce Solutions Work for Businesses With Mobile Apps and Websites
For businesses that have adopted mobile application (APPs) and web check-out platforms, the Pay-By-Link solution optimizes their operations and efficiency by offering a payment solution that provides the following to its customers:
- Reliability: Once adopted by a business, the solutions operate 24/7.
- Simplicity: Pay-By-Link solutions are easy, quick, and easy to implement.
- Convenience: Customers can overcome geographical limitations and purchase goods and services from any location on the globe.
- Safety: Co-op Bank eCommerce solution comes with a data security standard compliant payment card that ensures customer data security and safety.
- Customer experience: Customers get 24/7 support with a dedicated relationship manager on standby.
What Are the Advantages of Co-op Bank Pay-By-Link Ecommerce Solution?
Small scale traders benefit a lot from the eCommerce solution, for they level their game with established businesses that have long dominated the eCommerce sector in regional and international markets.
Here are ways how small business owners benefit from the online payment platform:
- Small and established businesses do not incur costs when onboarding the Pay-By-Link online solution.
- All card payments come secured with two-factor authentication via 3D security protocols. Customer data and privacy are top priorities.
- Dispute resolution is simplified. If a customer pays over the actual price, the seller can initiate a reversal of the payments from his end.
- The hustle and bustle of involving the bank to mediate between the buyer and seller avoided making transactions more efficient.
- Businesses have a secure platform to process their payments. After making a payment, a customer cannot initiate a reversal for the purchase made. The platform protects small businesses from theft.
- The platform offers an avenue for accountability. A business owner can track transactions to view and reconcile payments in real-time via a single dashboard.
As an investor, you can now enjoy the benefits of cross-border trade as you transact on a safe, reliable, and efficient platform to grow your business.
Sign up for Pay-By-Link by Co-op Bank and go global today.
