French intellectual Simone de Beauvoir told the world that “buying is a profound pleasure”. And if shoppers buy from the comfort of home, or anywhere for that matter, wouldn’t that pleasure like no other? But how can retailers guarantee this profound pleasure if they don’t offer customers their preferred mode of payment? With Salesforce Commerce Cloud payment, ecommerce sellers gain the opportunity to integrate secure and robust payment options instantly so that they can make lots of money – faster.
How important are payment options and technology in ecommerce? A Gartner report hints at a cashless world in five countries by 2023, as nations speed up digitization processes. This means that companies need to quickly jump on the payments bandwagon and ensure that they’re up to speed on new technologies so that they can also attract new customers while continuing to delight the old ones.
A tiger that won’t change its Stripe
The world’s most loved payment gateway, Stripe, is now a Salesforce Commerce Cloud partner. What does this mean for the world of ecommerce? In a swiftly changing online world that is growing by leaps and bounds in the aftermath of the pandemic, this partnership is set to take retailers on their payment journey faster than ever. Traditionally, integrating payment gateways was expensive, tedious, and took a long time to integrate. Now, with Stripe, retailers can offer customers a wide array of payment choices, and accept payments from customers too.
Online payment is no easy: Challenges
Being paid is the best part about being a retailer. But getting to that point is tedious and tiring as ecommerce payment is rife with challenges. When streamlining payment processes, security often takes a backseat, and so does compliance. It doesn’t stop there, though. As customers become more tech-savvy, they also become demanding when it comes to payment options. They prefer newer and more robust methods of payment, leaving many retailers slow to change in the dust, scrambling to find and integrate payment solutions when it may be too late. Last but not least of the challenges retailers face with enabling online payments is that pesky notion of fraud that costs them millions of dollars in lost revenue.
Huge they may be, but these challenges are certainly not insurmountable. How can commerce cloud payment solutions tackle these issues?
Spot the Stripe benefits
With Radar by Stripe, fraud prevention is a piece of AI cake! The AI, powered by machine learning, trawls through data daily, to block the frauds and allow only customers access to payments. Without fraud prevention, companies could face millions of dollars in damage due to fraudulent transactions.
2. Faster deployment of payment
Payment gateway integration of yore took forever and a day – about a month to be precise. But, with Stripe, it takes just one day to be payment-ready. This catapults retailers into payment territory much faster.
3. Better security, lower compliance
Compliance is a legal headache, which is why Stripe offers the opportunity to spend less time, resources, and money on compliance payment card industry (PCI), without compromising on security.
How to earn that Stripe
Integrating Stripe is fool-proof. Without the hassle of introducing code, retailers can set up Stripe-enabled payments instantaneously.
In order to set up Stripe payments for their storefronts, retailers will first need to access their Business Manager section of their Salesforce commerce cloud dashboard and create a merchant acquisition account. Next, their account will automatically be linked to their B2C (business to customer) commerce application. After this step, they’ll need to give Stripe a few account details.
It’s really that easy for brands to go the Stripe payment way. Global levels of security, peace of mind, and virtually instant deployment are now at their fingertips. What previously took weeks now takes just a day, thanks to proprietary software by Stripe and Salesforce.
Is that wallet real or digital?
Digital wallets are not just “a thing”; they are here for good. According to a Bloomberg article, 52% of online customers will have switched to digital wallets by 2023. Offering customers a wide choice of payment options isn’t just for the customers. Retailers benefit by spoiling their customers in the payment choice department. It’s imperative that retailers ensure customers are proceeding straight to the checkout and actually buy, because many customers abandon carts when they can’t find their preferred mode of payment.
On the flipside, digital wallets bring fraud along when they’re not secure, an issue that Stripe tackles in their overall working by preventing fraud. When retailers choose Salesforce commerce cloud implementation, they’re on the right track to accessing and receiving payments from anywhere across the globe.
Retail giants across the globe trust Aspire Systems with their e-commerce journey. Find out how the Aspire Systems-Salesforce partnership helps ecommerce businesses around the world grow.
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