What is a payment processor?
Whether you're in the process of starting an online business or you've decided to digitize your existing business and enter the online world, sooner or later you'll stumble across the term "payment processor." But what exactly does a payment processor do? And do you need one for your business? Learn more about it now.
Nowadays, there are an almost infinite number of payment options.
Let's say you are building a webshop to sell your products or services online - then you should definitely offer your clientele different payment methods.
Because if your customers only have the option of paying you in advance or with a credit card that they may not even have, they are likely to cancel the purchase. They will flee to a competitor where they can use their favorite payment method.
Popular payment methods in Switzerland include:
TWINT
PostFinance
Visa
Mastercard
Purchase on account
So you need different payment methods - all well and good, but how do you go about it? This is where the payment provider comes into play.
What does a payment processor do?
A payment service provider (PSP), which is also a payment facilitator (more on this another time), enables you to accept various means of payment without the need for contracts with acquirers. (An acquirer or acquiring bank is a financial institution that provides merchants with access to the credit card payment system).
He handles the electronic payment processing between your company and your customers, takes care of the technical side and the security during the transactions.
For online shoppers, things have to be fast, secure and convenient.
What advantages does a payment provider bring you?
A payment processor takes a lot of work off your hands - here's a look at the main benefits of having a reliable payment processor on your side:
All payment methods from one source: With a payment provider that offers various payment methods, you save effort and paperwork. You only need 1 contract with your payment service provider and don't need to negotiate with acquirers.
Maximum security: Companies that process payments are subject to strict security regulations. With a reputable payment provider, both you and your customers benefit from secure payment processing with minimized risk of fraud.
Functions for clear administration: With many payment providers, you can also make use of various functions and online tools that support you in your business and make accounting easier.
Is a payment processor worthwhile for your business?
Acquiring all the desired payment types, complying with security standards, ensuring payment processing - managing all this without a payment provider is a complicated and energy-sapping challenge.
Therefore, the answer to this question is clearly yes.
With the right supporter at your side, your payments are secure, fast, convenient and customer-friendly. You save a lot of time and nerves and have more energy to take care of your business.
Payrexx - you can rely on this payment provider.
Payrexx is a Swiss payment provider that supports you in any situation - so that you can start successfully with your business.
Offer your customers Visa, Mastercard, TWINT, PostFinance and other payment methods - all from one source, with only 1 contract.
Benefit from the highest Swiss security standards.
Use the simple and intuitive online tools - design your own webshop, create QR payment codes and much more.
If you have any questions or problems, please contact our reliable and friendly customer service at any time.
With Payrexx you can test all functions 30 days free of charge.. Try it out now - and receive your first online payments with ease.