Did you know?! A third of online shoppers in the U.S. hesitate to do their purchases online in fear of credit card data thefts, claims a recent research conducted by Bizrate, a unit of marketing technology provider Connexity. These shoppers are unsure about how reliable the payment process is and hence question retailer security. Further, according to the Bizrate Insight survey, respondents claim to trust Amazon and PayPal the most, in terms of secure online retail payment.
Several studies have strived to understand the factors that influence consumer behavior in terms of online purchase hesitation. Most studies have come up with the same results stating that one of the key factors that determine online shopping hesitation among several other factors, the hesitation at the final payment stage. However, given the trust most consumers have on PayPal payment gateway, Magento Payment Extensions strives to ensure that their extensions are linked to the PayPal gateway. Besides PayPal, Magento also has several partnerships and certifications with many other popular gateways such as FirstData, Realex, Authorize.net, eWay, Cardinal Commerce, Gotmerchant and many more. Ecommerce owners and online retailers can now earn the trust of their customers by imbibing these exclusive payment gateway modules from Magento, into their web store.
The Magento Extensions in terms of payment modules, it ensures that all your customer’s online transactions are carried out in a smooth and secure manner. All major credit cards and debit cards are duly accepted and supported by these extensions. At no point, do these extensions store any bit of card information anywhere on the system, as that’s a key priority in order to pass the PCI compliance issues. The online store owner can however capture the authorized payments from the backend of the platform.
The Magento extension makes the payment process least susceptible to fraudulent ways and undoubtedly protects your customer’s financial details at any cost. Merchants and store owners have the choice to perform an ‘authorize only’ or ‘authorize and capture’ functionality, with respect to the payments made online at their store. They can then capture the amount from the extension backend. Some of the extensions, supports multi-currency transactions, and hence can be adapted on a global platform. Further, these modules aptly support various key functionalities that are necessary for a smooth and safe payment transaction such as Authorize Only, Authorize & Capture (Sale), Void and Refund.
Integrating these exclusive payment gateway modules into the checkout process for your store, is bound to raise the confidence and earn the trust of more customers, giving you the tag of a reliable online store. This could distinctly set you apart from your competitors. Do give a shot to the Magento range of payment extensions, you won’t be disappointed!