Tuesday, January 11, 2011

The leading Secure Checkout Solution- Paypal's Website's Payment Pro

Many online merchants are taking leaps and bounds to provide their customer's with a 100% online secure checkout process. In recent studies, only 10% of shoppers followed through and completed the transaction. More than often, customer's venture away from a merchant's website because there is poor design, a lengthy checkout  (account creation, newsletter signup) and, or, a lack of online checkout security. Out of the three, a survey of 100-user friendly shoppers yielded online security to be the highest deciding factor in pushing the exit button. But alas, a new solution has been pushed into the market that can create an easy, secure, checkout. Leading industry payment processing company Paypal, has come out with an API solution for merchants to utilize. Many merchant's have jumped on board with the program and are finding when it comes to their customer's online security, there is nothing to worry about.

Paypal's newest addition is Website Payments Pro. This payment solution Pro includes Direct Payment, additional PayPal solutions and tools, such as Virtual Terminal, Fraud Management Filters, and reference transactions.
   
With Direct Payment online mechants can accept both debit and credit cards directly from their website while Paypal handles all of the credit card processing in the background through an API-based technology solution.

Express Checkout also enables online merchants to accept payments from PayPal accounts in addition to debit and credit cards. This is especially useful for customer's who would rather use their bank account to pay for online products verses providing the merchant with their credit card information.
   
To top-off this checkout solution, state-of-the-art Fraud Management Filters have been implemented into the mix. This filter solution provides an even more secure checkout with filters that identify potentially fraudulent transactions. There are two categories of filters which come with the solution.
Basic filters screen against data such as the country of origin and the value of transactions. PayPal provides basic filters for Business accounts and Website Payments Pro accounts.
Advanced filters screen data such as credit card and addresses information, lists of high-risk indicators, and additional transaction characteristics. Website Payments Pro merchants can upgrade to use these filters.
The glory of this new solution is that online merchants can provide their customer's with Paypal's processing security but, with the ease of the customer entering information directly on the merchants website. In recent studies it has been proven that the less steps you have to take during the checkout process, the better. With PayPal's website Payments Pro customer's experience a a smooth sailing secure  checkout process. Across-the-board, if you are a online merchant who already uses paypal as a processing merchant it would be wise to test the waters and try out this new checkout processing solution. Also, in conjunction with Paypal's new solution you can still utilize a third party cart system if you do not have an in-house web developer.

Merchant reviews have yielded higher customer response, increase in revenue, increase of minutes reported on website time, less phone handling (due to a clear cut checkout processes) and overall customer satisfaction.

Bottom line- PayPal has now earned respect as a payments transfer company and has allowed the online merchant's to provide solid value and 100% security to all of their customers.