The use of online business platforms for shopping has becoming very popular in recent times. Everyday new businesses are being born around the world. It is therefore essential for any online merchant store to maintain the most innovative and up to date technology within their operations and functionality. One of the ways this can be done is by implementing the one click payment system. The One click payment system requires that an on line shopper enters his/her credit card details online for the first time when shopping. This details are usually expected to be filled into a check box provided on a website of a particular online store. After the first purchase the information of the customer can be kept by the company after seeking consent for approval from the customer. After customer approval, from the second purchase onward, purchases can be
made from that particular website with just a single click. The One click payment system has the following advantages;
1. Simplifies the payment process especially for returning buyers: After the first purchase, the customer will only need to enter his/her card security code and click in other to authorize payment.
2. It enables online merchant stores to retain customers to their site due to the facilitation of the repeat buyer process.
3. This system when used by a company has the potential to change a customer variation towards its services for good. It creates incentives for a customer to return and buy again.
COMMON PROBLEMS THAT OCCUR WITH SYSTEMS THAT DO NOT IMPLEMENT THE ONE CLICK PAYMENT MODEL
1. Online merchant stores that do not implement this technology are slow in their transactions .Speedy delivery can be regarded as one of the main priorities of online businesses.This technology does not only help in the functioning of online stores but also of brick and motor stores. It facilitates payment by using single click option for delivery after a customer has made his or her choice.
2. Online Stores who do not implement this system lack convenience in their services. Thus the purchasing process on their websites are being delayed . These greatly effect the customers.
3. Online stores that do not put this technology in place turn to slack customers. This is because customers (especially young customers) will go for systems that use latest technology and make purchasing easier.
4. Online stores that do not implement the one click payment system have slim chances to survive future competition. Customers of a particular online store may become discouraged even if they love a product. This is because even if the products you deliver are unique, its just a matter of time before someone with a better payment strategy takes over your niche.
WHAT IS NEEDED TO IMPLEMENT THIS TECHNOLOGY
In order to implement this technology in your merchant store, you should have a company that can make you an e commerce offering that can handle the implementation and functionality of this service. A company that delivers the one click payment service to other companies must have the following features. Firstly the issuing company should be able to provide security to customer information Anyone who purchases a product or service online takes security to be of main concern. In the past so many security contracts have been violated .This has created alerts in the minds of online customers. Also, merchant’s store experienced a high rate of chargeback. A system security must be reliable with the most up to date security features. Such is the security feature offered by 3 D noninvasive security system. This security feature does not only have the ability to protect information but also the ability to maintains customers loyalty due to confidence in services .it can also increase the output of any merchant store due to increase customer confidence and
hence purchase increase. That said, for a company to apply the one click payment system, the company must trust the partner who is responsible for the Implementation and the built up of the
system to support payment. Secondly have a system that is fast and that can retain customers choice, shipping information and up to date delivery. .A liable system must be prepared to handle changes in credit card numbers and expiration dates. The system must be fast enough to adapt to the changes requested by customers. These changes are usually initiated when a customer discovers that there has been a theft of his or her credit card information. This changes include, change of password, change of credit card etc
PAYQ AS A COMPANY
PayQ makes card payment acceptance simple for any Internet based business. This include speedy deliveries with the implementation of the one click payment systems. PayQ has the capacity as one of the best companies in the world to implement the major security standards of gateway providers round the world.;
WHY PAY Q IS INNOVATIVE
With the implementing of the latest payment technology for merchant store owners, PayQ stands out as one of the leading companies for online security payments. PayQ does not only have this technology within its sphere of functionality but they also offer it to other companies who are in need for better experiences. Their services are top notch and customer centric. For a quick browsing experience you can visit the Pay Q website. For a faster browsing experience, visit the PayQ FAQ page. In the PayQ FAQ page you will discover that some of the questions you already have in mind have been addressed for simplicity purposes. Some of the features offered by PayQ are; I. DEVELOP SUPPORT FOR USERS: Maybe your organization has been entrapped in a bank dispute. PayQ offers support as well as advice to partner companies in need.
II. PAY Q PRICING
Even though PayQ is well known for its top quality services, its services are still very affordable. PayQ as a company implements very moderate pricing and has one of the lowest chargeback rates. It has the following features.
a) For customers purchasing services worth more than GBP.50,000 per month payQ offers them an enterprise solution.
b) PayQ charges 2.9 % per transaction fee.
c) Requires no annual maintenance fees: PayQ as compared to other gateway providers require no annual maintenance fee for its services.
d) Accepts payments through the most popular means: PayQ offers businesses the ability to accept multiple means of payment
III. PAY Q SETTLEMENTS: Paying for goods and services through systems provided by PayQ company have never been made easier with the use of the one click payment systems. Payments powered by PayQ have a reputation for security and top notch delivery
IV. ACCOUNTS AND OTHER SETTINGS: Setting up accounts with the PayQ system is very easy and straight forward.
V. REFUNDS AND CHARGEBACKS: PayQ themes and policy are such that if favors the buyer and as well as protect the interest of the merchant store that uses its services.