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But launching your eCommerce store is just half the equationaccepting payments efficiently and effectively is a whole different ball game. On the surface, it seems effortless, with customers only taking a few seconds to initiate and complete payments. The eCommerce payment solution infrastructure involves several key players.
The dominance of cashless commerce means only businesses that ensure the seamless processing of in-store and online credit and debit card payments will remain competitive. The question is: how do paymentserviceproviders work and how can you choose the right one for your business?
A paymentserviceprovider (PSP) is a company that provides online payments for e-commerce, similar to a credit card processor in a brick-and-mortar store. PSPs are usually used by merchants who sell online, although some may also provideservices for offline sales as well.
Whether you are starting a new online store or looking to grow your existing brick-and-mortar small business, you must make provisions for accepting credit card payments. A study by the Federal Reserve Bank of San Francisco showed that credit cards account for 31% of all payments, significantly more than cash at 18%, and debit cards at 29%.
In a customer-centric alliance, Surfboard Payments , and Worldline , a leading paymentprovider in the Nordics, have joined forces to offer businesses across the region unparalleled payment solutions.
Last January, Segpay proudly announced that it has launched its new gateway payment platform: The Segpay Gateway can handle high volumes of merchant transactions in multiple currencies, keeping all data safe with the latest data security standards. These components work together to facilitate digital payments, but they serve distinct roles.
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