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How to make eCommerce payment processing easy?

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Aspire
How to make eCommerce payment processing easy?

The retail eCommerce business of Singapore has been valued at S$4 billion in 2020. After the COVID-19 outbreak around the world, businesses have shifted from offline stores to online platforms. As customers are becoming comfortable with internet and mobile payments, we have made ecommerce payment processing easy with Aspire business accounts.

Why do you need to have a business account?

Whenever you are running a business in Singapore, you need to incorporate your business here. And, the next step is getting a business account. Though it is not necessary for all, it is a smart decision for new businesses. Also, you get all ecommerce payments directly to your account and can track all your payment details.

They offer credit facilities along with bill payments, invoice management, expense management features to companies. These accounts help you keep up your credit score, and ensure business loans in the future. Without a business account in Aspire, you may need to take several difficulties to start with ecommerce payments.

What do you mean by eCommerce?

It refers to the purchase and sale of goods electronically and has a global consumer base with digital payments. These businesses have no regional limitations and provide affordable advertising and marketing policies. Consumers can compare products and prices before making a purchase.

Why is the e-commerce business growing in Singapore?

According to the present statistics, consumers prefer convenience over in-person shopping. Though the World is returning back to normalcy, consumers expect their favorite brands to offer a choice of online or in-person shopping at any time.

Why are businesses shifting online? 

As stated above, consumers are looking for convenience and therefore businesses tend to get most of the targeted consumer base online than a brick and mortar store. This means they are no longer restricted by physical or geographical boundaries. 

Also, it is accessible 24/7 and an individual can purchase a product whenever he/she is in need. And, it reduces the cost of building infrastructure or paying rents, utility bills, employee salary payments, and other operating costs. 

With the bank API integration facility from Aspire, the payments made against purchases are directed to your account and are immediately updated on your books. This helps in seamless integrations with accounting software to keep business financial records clean.

Five payment options for eCommerce.

Paypal

Paypal is built on one of the most powerful technologies that can accept payments via credit cards and debit cards easily. With this facility, you can also offer customers to buy now and pay later options.

Stripe

Stripe is a fully integrated platform for online payments that work with Google Pay, Apple Pay, and Masterpass. It offers first, easy and secure payments and has unique compatibility with several shopping cart tools like Shopify. It is most likely to be an option for small businesses as they don't have a setup or monthly fee.

Apple Pay

Ecommerce payment processing with Apple Pay is a digital contactless payment service that serves the purpose of a wallet.  Making online payments with Apple Pay is highly secured as it uses a Touch ID for verification. 

Google Pay

It serves the need for a wallet and is a new online payment service for consumers to make any purchase at their convenience. It is associated with a local bank of Singapore and with PayNow of Aspire, you can make payments easily.

Braintree

It is a one-stop online payment platform that integrates PayPal, Apple Pay, Google Pay, and some of the major credit cards. It allows transactions in over 130 countries and accommodates a host of features like billing management. Braintree has a high level of customization and therefore, is a user-friendly online payment platform for customers.

Conclusion

At Aspire, we create a corporation bank online account for our clients to provide all financial services and solutions from one destination. What people worry about the most is ecommerce payment processing. But with us, you can keep your worries away and focus on the mainstream of your business.

No matter if you own a physical setup to run a business, it's high time to take your business online and earn higher profits. Once you can accept payments via an E-commerce platform, you are ready for business transformation.



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