Having a fast and safe payment gateway that is versatile and low on transaction fees is something that everyone needs. With online transactions becoming the norm across the world, choosing the right payment gateway for your business has become key to the way you can operate. With a shift towards e-commerce, an ever-growing way that businesses are now operating in Indonesia, it is important that businesses and customers alike have a safe and efficient method of completing transactions.
Furthermore, for those working in sectors such as forex trading, having the ability to have quick process time, lower transaction fees and multiple payment options is incredibly important, as having a reliable payment gateway can be the difference between profit and loss. In growing markets such as Indonesia, especially one that is being driven by the switch towards m-commerce, the ability to be able to rely on a payment gateway that is flexible across multiple platforms, user-friendly and most importantly safe is undoubtedly essential.
Payment gateways — Why switching to an E-wallet may suit your business
A payment gateway is a term that refers to the method in which merchants receive payment from a customer or client. Customers put in their payment details after check-out then the gateway communicates with the payment processor and issuing bank to authorise the transaction. In the past, setting up a payment gateway has been timely and not very cost-effective. It traditionally leaves the merchant with two options:
- Using a merchant account and ID linked to a separate payment gateway service. With one party authorising the online transaction, but another processing the payment, this requires technical integration, web development skills and is typically slower to set up.
- Using a third-party payment gateway combined with a merchant account system. With one company providing both authorisation and approval, this is typically faster and easier to set up, but comes with higher fees.
But now there is a third option. The increase in cost-effective, safe, and reliable mobile e-commerce and digital wallet services has given merchants the opportunity to replace these inefficient methods of transaction by integrating an e-wallet, like STICPAY, as the payment gateway.
Areas to consider when choosing a reliable E-wallet
When considering using an alternative payment gateway like STICPAY e-wallet it is important for your business to evaluate what your needs are.
- The most important aspect is security — it is incredibly important that the payment gateway is secure and robust both for your own and your customers’ benefit. Online transactions are susceptible to fraud, so security is crucial.
- This is followed by the costs of using an alternative payment gateway — there are set fees for transactions as well as minimum and maximum transaction numbers a month- An E-wallet like STICPAY does not have any limits.
- The user-friendliness of the gateway is essential as reports show that a complex e-commerce check-out has significant impacts on online sales.
- Finally, the ability to make purchases and receive money in a number of currencies is vital if your business offers products and services to markets abroad.
What does STICPAY offer?
STICPAY provides a safe and effective way to get your business set up with a fast, adaptive, and user-friendly alternative payment gateway.
Competitive Fees
STICPAY is committed to offering competitive charges for its transactions, with a 2.5%+ $0.3 fee for processing and 1.8% acceptance fee for cryptocurrency transactions. These transactions are secured through strict KYC (Know Your Customer) and AML (Anti Money Laundering) checks with charge-back risk limited.
Quick and Easy Transactions
STICPAY offers an easy to use and convenient way of handling incoming and outgoing transactions. It offers a range of payment types: MasterCard, UnionPay China, cryptocurrency, Visa, and bank transfer. Set up time is quick and easy to understand, with verification and individual merchant IDs that allow the creation of multi-currency accounts. Overall, the e-wallet solution enables a robust, user-friendly payment gateway for merchants in Indonesia to utilise after a few minutes of set-up time.
Global Availability
STICPAY is available in 190 countries, with 29 fiat currencies and three cryptocurrencies supported. And this can all be managed on the move on the dedicated STICPAY app. The app is available on IOS and Android, enabling a large m-commerce population like Indonesia to really take hold of their finances. The app is simple to use and regularly updated to maintain stability and security.
Bank Wire feature for Indonesia
Transferring money quickly domestically is something that is incredibly important for many around the world but especially in a country like Indonesia. Whether it be making withdrawals and deposits from an e-wallet or transferring money from one business to another, a local bank wire is one of the quickest and money-friendly ways to do this. STICPAY has partnered with several countries including Indonesia, enabling local bank wire services and giving users the ability to fund their accounts with domestic transfers. This allows them to send funds domestically and internationally without paying a premium for international transactions.
Fundamentally, choosing the next step to develop your business and adapt to the growing m-commerce economy that is taking Indonesia by storm, STICPAY e-wallet provides a safe, effective, and user-friendly way to modernise your payment gateways. It provides you with the extensive support to make transferring and receiving funds an easier task whilst offering a plethora of features that make your business adaptable to both the domestic and international markets.
Originally published at https://sticpay.com on August 3, 2021.
