With more and more local consumers calling out for more local online payment options, you're missing out if you’re not even considering the options. In this blog, we discuss how you can accept local online payments with Sentoo. First, let’s start with a quick look at how online payment processing works.
What is payment processing?
Payment processing is how merchants or businesses complete transactions of a credit card or debit card with the help of a payment processor. Basically, after the online check-out, a payment processor handles all the transaction logistics in the background between the merchant, bank, and credit card company. We won’t dive deep into the inner workings of payment processing, but one essential part is important to mention: the payment gateway.
Why is the payment gateway important?
The payment gateway is the technology that securely validates customers’ credit card details. It’s the online equivalent of the physical Point-Of-Sale (POS) terminal in a store, supermarket, or restaurant and is an essential part of payment processing. The payment gateway connects your store, your customer’s credit card, and check-out system. However, the gateway is not involved in the money flow, sensitive credit card info passes securely to the bank and unwanted threads are kept away from the data. The payment gateway connects different payment methods (credit card, debit card, etc.) with banks under one system. Without the payment gateway, it’s impossible to authorize or confirm transactions from any payment method. Payment service providers such as Stripe, PayPal, and Adyen offer access to a merchant account (to accept payments) as well as a payment gateway. By doing so, they answer the need for a more simplified e-commerce setup.
Start with local online payments and Sentoo
As a local online payment method, Sentoo connects to payment gateways through API. Sentoo provides an easy-to-use REST API, which integrates easily with online portals, invoicing modules, or online stores. But before you offer Sentoo as a payment method to customers, some things need to be put in place. The first step is applying for a Sentoo account. After that starts the process of API integration (you can find more information on that our FAQ page). Once that’s in place there are a few ways that you can start offering Sentoo as a local online payment.
Sentoo payment options
Finally, with Sentoo online checkout, merchants can offer the complete checkout process and take local payments online. Customers select Sentoo during checkout and select their bank on the Sentoo payment screen. They redirect automatically to their own online banking environment where all payment details related to the purchase are already prefilled. Just click confirm, and voilà, the payment is done. The customer redirects automatically back to the online store to finish the process. The online checkout option creates a seamless experience with shoppers’ online banking environment. More importantly, it results in a faster payment!
Did you know? Invoices with a QR code or payment link are paid faster: up to 40% pays within 24 hours.
Paying or receiving local payments with Sentoo is also possible using the QR code. QR codes are ideal for (e-)invoices, tickets, or bill payments. You name it. When you scan the QR code with a smartphone or tablet, the same payment process is initiated. The right amount and payment reference are prefilled. QR code payments are effective in lowering the costs of payment collection; the ease of payment increases and customers pay faster.
Online payments using links
Launching an online store opens up a variety of e-commerce options for local merchants. But owning and maintaining a website also requires much effort and can be time-consuming. Payment links are great alternatives because they let merchants sell online without a website or online store. It’s essentially a secure link sent through WhatsApp, SMS, or email to name a few. A click on the link initiates the Sentoo payment process. The payment link is easy to create and the simplest way to accept payments with Sentoo.
No matter what Sentoo payment option you choose, the most important thing is to make sure that your online payment options are accessible and easy to use for your customer. It’s worth mentioning that any merchant or business, big or small, can sign up to Sentoo and start growing their local business – and that’s easy to do. To facilitate easy, fast, and safe local online payments with Sentoo, merchants need to sign up first. After the setup, all the above-mentioned Sentoo payment options are available to use, by everyone.