Credit Card Processing Singapore Solutions for Online Merchants - PowerPoint PPT Presentation

About This Presentation

Credit Card Processing Singapore Solutions for Online Merchants


PayCly is a well-known payment processor that helps merchants with credit card processing solutions in Singapore. We cater to low-risk as well as high-risk businesses. We provide alternative payment solutions to attract a broad audience and retain the current one. For more details:- Visit: Contact us: – PowerPoint PPT presentation

Number of Views:7
Slides: 10
Provided by: paycly0
Category: Other
Tags: business


Transcript and Presenter's Notes

Title: Credit Card Processing Singapore Solutions for Online Merchants

(No Transcript)
Credit Card Processing Singapore for Creating
Recurring Revenue
  • There have never been more reasons for businesses
    to think about accepting recurring credit card
    processing payments.
  • Automatic payments are becoming more appealing to
    startups and established firms. Due to the
    growing popularity of subscription services and
    payment plans, expectations for hassle-free
    payment processing and a desire to reduce manual
  • The average subscription billing provider expands
    30 to 50 per year. Now is the ideal moment to
    start thinking about which of your product or
    service offerings could benefit from a recurring
    payment option.
  • But how do you know if recurring billing is right
    for your company? And how do you put together a
    recurring payment system that works?

What Are Recurring Payments, And How Do They Work?
A recurrent payment, also known as recurring
billing or automatic payment, is a billing method
in which a consumer enables a product or service
provider to charge their credit card regularly.
ACH debit payments into a merchant's account can
also be used to make automatic payments. To
enable recurring payments, the consumer must
agree to share their payment information with the
merchant's payment processor. The consumer must
authorize both the initial and subsequent charges
on the payment plan (i.e. bi-weekly, monthly, or
annually). Recurring payments are often made
indefinitely until the customer cancels the
arrangement or the card on file expires. Fixed
and variable recurrent payments are the two types
of recurring payments. Variable payments may vary
from payment to payment depending on a customer's
use of a product or service, such as utility
bills whereas fixed payments are charged to a
customer's account the same amount each
cycle. PayCly is a well-known payment processor
that helps merchants with credit card processing
solutions in Singapore. We cater to low-risk as
well as high-risk businesses. We provide
alternative payment solutions to attract a broad
audience and retain the current one.
What's the Difference Between a Recurring and a
One-Time Fee?
A single transaction in which a consumer pays for
a product or service is referred to as a
"one-time charge." No ongoing payment service is
authorized between the buyer and seller.
Furthermore, unless there is an option to "store"
card or bank account details for future
purchases, the customer's payment information is
not retained on file. When customers do not make
regular payments, one-time charges make the most
sense. Offering recurring billing as a payment
mechanism has limited value unless clients have a
motive to make payments automatically. However,
if your company provides recurring items or
services, there are numerous advantages to
offering an automated payment option to your
clients. Although not all customers trust
eCommerce retailers with their credit or debit
card information, having it as an option can make
online payment processing considerably easier for
small businesses to manage. What Are the
Advantages of Accepting Recurring Credit Card
Payments? Let's take a look at some of the
benefits of having recurring credit card
Which Do I Need A Payment Processor or a Payment
  • Customers Will Have More Convenience-
  • Customer loyalty is more than just a matter of
    price. Automatic billing's "set and forget"
    feature means that customers don't have to think
    about when payments are due. It adds friction to
    the customer experience.Increasing customer
    convenience improves the brand experience. It is
    also a customer's additional reason to stay with
    you rather than go to a competitor. When 74 of
    consumers are inclined or somewhat likely to buy
    based only on their experiences, recurring
    billing can have a significant impact on overall
    customer retention.
  • Increasing the Number of Products or Services
  • It's not just about introducing another payment
    method when you provide automated payments.
    Recurring billing enables businesses to develop
    new product or service offerings that are very
    marketable in today's environment.

Payment Processing Time and Effort Minimization
Late payments, or payments that are completely
missed, are detrimental to a company's efforts to
establish a consistent, reliable cash flow. It's
also bad news for customer relationships if a
client keeps missing or delaying payments, you
might have to consider letting them go. Spending
time chasing down clients with invoices or late
payment interest is not only inconvenient for a
business owner it also diverts attention away
from other aspects of the company, perhaps
resulting in missed opportunities to expand. You
may eliminate manual invoicing activities. And
spend more time on other things by using a
recurring billing system to receive payments and
save credit card information.
Defend Yourself from E-Commerce Fraud
Card Not Present (CNP) transactions continue to
rise, and payment fraud has become a widespread
and rising concern in eCommerce. CNP fraud is
expected to cost retailers 35.54 billion
globally in 2020, according to Vesta. Chargeback
fraud, in which reimbursements are requested from
card networks for fictitious reasons, accounts
for a large portion of this. PCI-compliant
recurring payment processors and point-of-sale
systems enable secure transactions and the
preservation of sensitive data, allowing
businesses to better protect themselves and their
customers from fraudulent activities.
What is a Chargeback? And is it Always Necessary
to Fight Chargebacks?
It's not just about ensuring a more consistent
cash flow or making your accounting process
easier with recurring billing it's also about
providing a more convenient, frictionless payment
experience that boosts customer pleasure and
loyalty. Customers are significantly less likely
to switch to a competitor if doing business with
you is simple. A recurring payment plan could be
one of your most effective acquisition techniques
ever, with the added benefit of allowing you to
add a new product or service offering. PayCly is
a wonderful business companion if you are looking
for Credit Card Processing Singapore Solutions.
We intend to provide effective payment management
tools that will help you sustain your payment
flow even if your organization may have to deal
with cybercriminals and frauds.
Contact Us Now For Payment Gateway Solutions
7 Temasek Boulevard, 12-07 Suntec Tower 1,
Singapore, 038987 https//paycly
Thank You
Write a Comment
User Comments (0)