Assuming you're building an online shop to sell your products or services — then you should definitely offer your customers a variety of payment methods.

Because: If your customers only have the option to pay in advance or with a credit card, which they may not even own, they are likely to abandon the purchase. They flee to a competitor where they can use their preferred payment method.

Popular payment methods in Switzerland include:

• TWINT

• PostFinance

• Visa

• Mastercard

• Invoice purchase

So you need a variety of payment methods — great, but how should you proceed? This is where the payment service provider comes into play.

What does a payment service provider do?

A payment service provider (PSP), who is also a Payment Facilitator (more on that another time), enables you to accept various payment methods — without needing contracts with acquirers. (An acquirer or acquiring bank is a financial institution that provides merchants access to the credit card payment system.)

It handles the electronic payment processing between your business and your customers, takes care of the technical details, and ensures security during transactions.

For online shoppers, it must be fast, secure, and convenient.

What advantages does a payment service provider offer you?

A payment service provider saves you a lot of work — here's a look at the key advantages a reliable payment service provider at your side brings:

• All payment methods from one source: With a payment service provider offering a variety of payment methods, you save effort and paperwork. You need only one contract with your payment service provider and don't have to negotiate with acquirers.

• Highest security: Companies processing payments are subject to strict security regulations. Both you and your customers benefit from safe payment processing with minimized fraud risk when using a reputable payment service provider.

• Features for clear management: Many payment service providers offer you the option to use various features and online tools that support your business and make accounting easier.

Is a payment service provider worth it for your business?

Acquiring all desired payment methods, adhering to security standards, and ensuring payment processing — achieving all this without a payment service provider is a complicated and exhausting challenge.

Therefore, the answer to this question is a clear yes.

With the right supporter by your side, your payments run securely, quickly, conveniently, and customer-friendly. You save a lot of time and nerves and have more energy to focus on your business.

Payrexx — you can rely on this payment service provider.

Payrexx is a Swiss payment service provider that supports you in all situations — so you can successfully kickstart your business.

• Offer your customers Visa, Mastercard, TWINT, PostFinance and other payment methods — all from one source, with just one contract.

• Benefit from the highest Swiss security standards.

• Use the simple and intuitive online tools — create your own web shop, generate QR payment codes, and much more.

• If you have any questions or issues, feel free to contact our reliable and friendly customer service at any time.

At Payrexx, you can test all features for free for 30 days. Try it now — and effortlessly receive your first online payments.