How Payment Gateway For International Payments Helps E-Commerce Businesses Reach New Customers?
Do we need to discuss why e-commerce businesses need to reach more and more customers? Certainly no. Such businesses are destined to be versatile in their customer reach. Just like they have multiple types of products on their platform, they need buyers from varied locations. Amazon, a renowned e-commerce business has reached all over the world. We know how fast it flourished in past few years and how important it is for this business to have an internationally suitable payment system.
A payment gateway is an ultimate bridge between the merchant and its international reach to global customers. Every e-commerce merchant needs to have a strong payment system for national and international customers. Here is how payment gateways help the businesses in this industry get connected with new customers.
Overseas Payments with Multiple Payment Methods
According to research, the growth of online retail will rise to $6.17 trillion by 2023, in which e-commerce has a 22.3% share in total sales.
The e-commerce payment gateway for international payments provides the facility to get paid for products from customers living overseas. A merchant sitting in one corner of the world producing products even from his home can get paid by a foreign customer. All happens due to payment gateways that facilitate international transactions with global customers.
Today the merchants have the great opportunity to earn big and also the customers have many options to buy. No one has to interact with a monopolistic market. Through a reliable and safer payment gateway, both the business and the buyer can interact in a predictable atmosphere. EskayPay is the online and international gateway you can connect to a vast network of product buyers. We help e-commerce businesses grow big and then bigger.
Real-Time Currency Conversion for Merchant’s Withdrawal
The customers can belong to any country across the world but when the merchants receive the payment they may need to withdraw in their currency. Payment gateways not only facilitate transactions when a buyer buys a product but also facilitate currency conversion.
When a merchant wants to withdraw money for commercial needs, he can immediately send the request to the merchant account provider. When the acquirer accepts and sends the money, it travels through the payment gateway only. If you are an e-commerce business owner, you can understand that it is a big facility. The good thing is that this facility is available 24×7 because when it comes to a business with a global reach, time should not be a constraint.
Easy Access to Multiple International Merchant Account Providers
It is a huge relief when a merchant has many merchant account providers. This gives another chance to connect with international customers. E-commerce business is tagged as a high-risk business and it is always a struggle to get a merchant account. Payment gateway companies already have good connections with acquiring banks that provide merchant accounts to high-risk businesses. Payment gateway companies suggest practical alterations to the merchant in his website to make it appropriate and help the business qualify for a merchant account.
When a payment gateway company connects with an e-commerce business, it handles many things. It not only facilitates online transactions but also helps the business get a merchant account. The payment gateway companies suggest acquiring banks from their network. However, the payment processing service providers can help the merchants connect to any acquirer in the world. But the benefit is that when a merchant gets an acquirer through the payment gateway the latter helps to bargain on cost. Whether it is about per transaction fee or the other annual charges, things are simpler with the assistance of a payment gateway company.
Give Facility to International Customers to Pay in Local Currency
Another WOW! The factor that comes with payment gateways is the international payment system they install on the merchant’s website. The customers are global but they can pay in their local currency. The buyers are not going to change their payment currency for an e-commerce business. If the merchants want to earn, they need to provide every comfort on the part of payment processing.
The payment gateway for international payments makes it simpler for the merchant as well as customers to pay and receive in their currency. The product buyer pays in his native currency and the merchant received the money in his native currency through convenient currency conversion. Without any exaggeration, we can say that it is through the presence of affordable e-commerce international payment gateway services that these high-risk businesses can survive.
Conclusion
The importance of payment gateway companies is ubiquitous in the e-commerce industry. They are the carriers of connectivity for businesses to reach customers living in any part of the world. The advanced system and safety tools of the payment processing providers make daily transactions simpler for businesses. When the customers know that they are interacting with a safe business with a safer payment processing system, they stick to it. This in turn improves customer loyalty and businesses with customer loyalty attract more customers. Isn’t it a win-win situation?
Read another Blog: Factors a High-Risk Merchant Should Consider to Find the Best Payment Gateway in Australia
