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Top 5 Signs That You’ve Outgrown Your Payment Service Provider

Tag: online payment solutions

top-5-signs-that-youve-outgrown-your-payment-service-provider
Mohab Growth Hacks 0

Every online business needs a reliable and trustworthy payment service provider to reap profits and bring in more traffic. It forms a crucial part of the business’s structure. As it allows them to generate revenue and ensure the liquidity of their concern. However, if your payment service provider is not able to keep up with the growth of your business and changes in the technological environment, it may be time to reconsider your partnership with your provider. Here are some of the top signs that you need to upgrade your online payment system and provider.

  • No Regular Updates:

Since an online payment system is critical for any business, it is important that your provider offers you the latest services. Apart from the range of services, it is also imperative that your provider upgrades the system to provide smooth services. As online payment systems are highly technological in nature, it needs to evolve with changes in circumstances. However, if your service provider does not provide such updates on regular basis, it is time to change your provider. The slow response rate may also hamper the effectiveness of your payment system, causing undue inconvenience to your clients. Smooth communication and updates are essential to keep the system running in a perfect manner. So that your clients get the best possible service.

  • No Customization:

Customization is essential to ensure that your online payment system is in line with the requirements of your client base. And your existing service provider may be offering the same payment solution to all their clients. However, this type of off-the-shelf payment system is not likely to be the best for your business. It is essential that you properly identify your market and your customer base. Then design your online payment system to meet their distinct requirements. Further, your service provider should also be dynamic enough to change the payment system in line with the changes in your business. If your online payment service provider is not able to customize your system to suit the changed environment, then you should consider changing your provider.

  • Complicated Process:

A payment system is a complex system, consisting of several steps. However, you need to ensure that the process is quick for your customers. In order to achieve these contradictory goals, you should carry out periodic testing of your system, and make sure that it is not unduly complex for the customers. The system may also get complicated over a period of time due to alternations or addition of certain features. Thus, the payment process should be designed in such a manner that it can be upgraded in future without making it cumbersome.

  • Low Monetization Options:

New payment systems are cropping up every day. And they are offering multiple payment options to make the shopper’s experience easy and enjoyable. So, if your service provider is not able to provide you multiple payment options, it is highly likely that even your loyal customer base will eventually migrate to other businesses. Essentially, customers should have the flexibility to choose from different payment options to complete their transactions. Further, the service provider should also offer you the option to monetize your engagement. This generally works through a revenue sharing model, where you are paid a certain percentage of the volume of business generated. If your service provider is not offering you any such service, then you might want to change your provider.

  • Limited Support:

Today’s dynamic businesses need different options and if your provider is not able to provide such options, then your clientele may suffer unnecessarily. Also, your service provider should be able to offer timely and adequate crisis resolution support. Multiple channels should be available to reach your provider in case some issue crops up. Ideally, you should also have emergency access to a support system. Which goes above and beyond their usual crisis resolution methods. A smooth-running payment system is essential for any business and even a single problem may cause a big dent in its market reputation. So, if your online payment service provider is not able to provide you reliable support, it is time to move on.

All in all, a robust online payment system forms the backbone of any modern business nowadays. So, it is vital to choose a payment provider that can grow with you and meet your changing needs. So that a smooth experience is always guaranteed for you and your customers.

3 years ago
PayTabs
Mohab Partners & Partnerships 0

PayTabs-Collaborates-with-Nazeel.net to-facilitate-payments-in-the-Hospitality-IndustryPayTabs, a leading payment solutions provider in the Kingdom of Saudi Arabia, is now collaborating with Riyadh-based Nazeel.net, a cloud-based hotel management software and systems provider, to offer cutting-edge payment services to its clients. The new and promising tie-up is expected to be especially useful for hotels, motels, chalets, resort chains and real estate sectors. Here is a closer look at the many benefits arising from the association:

  • Teaming Up with the Best: net is an undisputed leader in the hospitality sector, with over 45 percent market share in the kingdom. In fact, it books 23 million hotel nights annually through its platform. With its unique leadership position, Nazeel.net can provide advanced solutions to its clients. Over 4,300 hotels have already expressed their faith in Nazeel.net for managing their properties. And the collaboration with PayTabs will further allow the clients to benefit from novel payment solutions and business tools. The long-time expertise of Nazeel.net will help the businesses in attaining maximum efficiency and optimality. The synergies generated by Nazeel.net’s hotel management software and solutions and PayTabs’ payment solutions will help clients attain greater convenience.

 

  • Customized Solutions: The collaboration seeks to empower the hospitality industry in the region, by making the payment system simpler, faster, and more secure. According to the data published by Global News Wire, the Saudi Arabian hotel industry is driven by rapid economic growth, the development of real estate projects investment, and innovative constructions. These factors are driving tourism in the region as well, which is expected to fuel the growth in the hospitality industry.

 

  • Global Edge: The region is expected to attract visitors from all over the world. The kingdom is especially looking to increase the number of Hajj and Umrah tourists. These two streams are the prominent sources of visitors in the region. According to an estimate, there were 19 million such visitors in 2019 and the government is now looking to increase the number to 30 million by 2030. These visitors come from different countries, and thus, require hospitality establishments to deal in a wide range of currencies. PayTabs, with its new collaboration, will be able to offer digital payment solutions to hospitality services providers in the region. This move will lend a global touch to their operations.

 

  • Operational Dashboard: The collaboration will prove to be especially helpful for businesses that are planning to take their operations online. This shift can help enhance their revenues and returns. PayTabs and its collaborator Nazeel.net can help in setting up the business’s payment gateway in an easy manner. With the help of Nazeel.net’s specialized dashboard, hospitality management companies can easily manage their daily operations. From a single window, they can enjoy a bird’s eye view of all their business operations, giving them better control. The business owners can also select the frequency of their reports. Whether they are looking for hourly reports or weekly, this system is all set to provide them with relevant details.

 

  • Innovative Payment Solutions: Together, PayTabs and Nazeel.net are in a position to provide unique and innovative payment solutions to hospitality services providers. The robust technologies used by PayTabs will not only ensure that the businesses are able to process their cash flows promptly, but also help them boost their own and their clients’ security. The promptness of processing will help businesses to maintain their liquidity, while the security measures will keep sensitive data away from prying eyes. Ensuring safety of the data will also allow hospitality businesses to build a reputation in the market and create a niche for themselves.

 

PayTabs and Nazeel.net together aspire to facilitate digital hotel bookings and reservations in KSA. They are wholeheartedly working towards achieving the Saudi 2030 vision of cashless payments.

4 years ago
Powering payments and optimizing delivery solutions for better eCommerce
Mohab Partners & Partnerships 0

Powering payments and optimizing delivery solutions for better eCommerce

PayTabs and Jungleworks collaborate to integrate payment solutions and delivery management services to provide online businesses with a seamless checkout experience

The Tie Up

As part of the strategic collaboration, businesses will be able to integrate the Tookan app with PayTabs to make mobile and online payments effectively and efficiently in 168 currencies. Online stores that have benefited from Jungleworks’ Tookan app and enjoyed services such as automated dispatch and delivery, will now also be able to benefit from seamless global payment processing with PayTabs. The Tookan app benefits web stores and merchants as they can have their pickups and deliveries auto assigned to their nearest delivery agents as soon as the order is ready for dispatch and these merchants will now also be offered a one-stop shop to manage their online payments safely and securely. PayTabs will also offer merchants a complimentary business manager dashboard to help manage transaction data and history. These advantages will thus make it seamless for e-tailers and online stores to manage both the payment and delivery expectations of their end consumers thus providing them a smooth and hassle-free service.

About Tookan

Tookan is a leading logistics service provider and offers its services to a large variety of businesses. It provides automated dispatch and delivery system, where the pickups and deliveries are auto assigned to the nearest delivery agents. Such auto allocation of resources is done as soon as the order is prepared, offering efficiency to the business operations. Its portfolio of tracking and route optimization services allows you to monitor your workforce in real time by using its delivery tracking system. You can also plan ahead for your upcoming delivery requirements with the help of delivery services management tools.

Tookan boasts of a comprehensive portfolio of delivery related services. Its tool kit features  centralized dispatch dashboard, allowing you to keep a watch over all the functions from one single place. With the help of its automation tools, you can assign task and schedules as per your requirements. Further, the process of dispatching and managing the orders may also be automated, leading to conservation of resources.

However, the execution of tasks and management of resources is only half the story. Tookan further ups the ante by offering robust analytics services. Its various tools allow you to analyze data and prepare reports for control purpose. The analysis may be carried out for finding trends and deviations from set standards. Further, these reports are also useful optimizing performance of drivers and their vehicles.

Tookan provides a service app which may be used by field agents to render their services in the most efficient manner. The task notification feature on the app can be customized to provide operational alerts, so that field agents are always aware of the task lineup. It also lets agents communicate directly with dispatch, managers and customers. The service is especially helpful to offer complete check over the quality of service.

Tookan helps businesses by letting them design optimal navigation systems for serving multiple destinations. The customers are assured of the best services as Tookan enables delivery agents to scan barcodes and add notes. They can also add images and digital signatures as proof of delivery. Give better peace of mind to your clients by ensuring that the goods are delivered to right people and the right place. Tookan also offers several extensions to let you customize the app mix to best suit your requirements.

About PayTabs

PayTabs is an award-winning, B2B payments solution provider. Having processed the first live payment gateway transaction in June 2014, today the company processes transactions in 168 currencies, safely and securely. Using a tool known as API plugins, PayTabs facilitates seamless integration for merchants across 49 industries to ‘plug and play’ features on to their websites. PayTabs prides itself on offering electronic invoicing services for entrepreneurs and businesses enabling them to save time and enjoy added convenience with paperless invoicing. PayTabs’ vision is to be global in outlook but next door in service, whereby payment products can be customized via different business models to suit start-ups, small and medium organizations, and enterprise needs. PayTabs has dedicated offices in the GCC, especially the UAE & Saudi Arabia and presence in many other locales including Egypt, India & the Philippines.

4 years ago
Boost sales conversion with the right payment integration strategy
Mohab Growth Hacks 0

Boost sales conversion with the right payment integration strategyWhile window shoppers are welcome to browse the e-commerce website, merchants are mainly concerned with serious buyers who proceed to the payment gateway after adding the products to the cart. We shall look at the various approaches of how to integrate a payment gateway and the best option to increase sales conversion.

  1. Redirect the customer: The online payment platform is hosted on an external third-party webpage. It is not integrated into the merchant’s own website. Thus, the customer is redirected to a website with a different URL.
    • Disadvantages: The merchant lacks control of the payment process as it is outsourced to an external vendor. The customer might not enjoy services of the same standard as those offered by the merchant. Poor server speed or any other payment processing error that hampers payment would adversely reflect on the brand image of the merchant.
    • For the merchant: The merchant has no control over the operational aspects like error message, back-end process and security levels. Further, there is no way for the merchant to confirm customers’ payments. In many cases, redirection can hurt sales. The customer might abandon the purchase on being directed to a separate website with different design and logo, owing to security concerns. One might even end up losing business to a rival that offers more convenient features in accepting payments.
    • For the customer: The time for the transaction to be completed depends on the speed of the third-party server. Generally, an online customer would prefer a transaction that takes minimum time until final checkout. The customer would like to see a confirmation of the order delivery on the merchant’s website after payment. It might not be possible to return to the e-commerce site after payment.
  2. I-frame based forms: The iframe feature allows one to add an external payment form to one’s website. This works like an appendage to one’s payment page, in return for a code received from the payment solutions company. However, the design is as per the payment provider. This would cause inconsistency with the layout of the webpages of one’s own website. Further, in case the third-party servers are down or operating slowly, the customer might face issues in making payments. One would not be in a position to offer much support and track the error in real time as the payment process is outsourced. Code changes might also have limited options. The delay might result in the customer cancelling the order or abandoning the cart. Payment management is difficult as the merchant lacks control over the process.
  3. Customized forms: The custom form is completely integrated into the merchant’s own website. Thus, the payments process is completely managed onsite. The input fields like the customer details to be entered within the HTML payment page can be entirely customised. The payment processor handles the security aspect of the payment gateway, ensuring it is compliant with the leading PCI certification. This ensures that the customer data is safe and confidential. Since the merchants obtain real-time information, they can offer live chat support to the customer in the event of any difficulty in making payments. With the customization feature, the merchant can design a payment form compatible in look and need with the rest of the website. The last option is a sure-shot way to boost sales conversion. The merchant has complete control of the transaction and there is no risk of any dilution in quality at any stage.

In online transactions, it’s best not to risk losing control of the business transaction to a third party at the crucial stage of payment processing. Hence, it’s best for a merchant to take complete ownership from start to end of each online transaction. This would entail having a seamlessly integrated, customized payments platform within one’s e-commerce site. Often, a crucial decision like payment integration can result in winning or losing customers.

5 years ago
PayTabs Wins Prestigious FiNext Top Companies in Payments Award
Mohab Events 0

PayTabs Wins Prestigious FiNext Top Companies in Payments Award

Ever since it started operations in 2014, PayTabs has been single-mindedly focused on one thing – use robust technology to help small and medium businesses make simple and secure online transactions. The company has worked towards building innovative solutions to make the world go cashless and embrace new possibilities of accepting payments. It goes without saying that they are proud of the value and opportunities created for more than thousands of payment partners. And it cannot be more satisfying when others recognize this as well.

“After careful consideration and extensive research our awards committee is happy to let you know that ‘PayTabs‘ has been selected for the Top Companies in Payments Award”

                                                                -FiNext Judging Committee

The recent award won in Singapore was collected by their distinguished Philippines Country Manager, MayFlor Jalandoni, at the latest FiNext Conference held on 25th-26th April, at Marina Bay Sands, Singapore.

FiNext Acknowledges the Torchbearers of Global FinTech Sector

FiNext is dedicated to bringing the global FinTech sector under one roof. They allow start-ups, investors, SMEs, incumbent tech providers, financial institutions and other stakeholders to connect and interact with industry innovators. This was the primary idea behind the FiNext Awards Singapore 2019. The FiNext ‘Top Companies in Payments Award’ is one of the premier business awards for achievement in the global payments sector.

While nominees were judged on 5 parameters – Spirit of Innovation, Overall Reach, Industry Impact, Future Readiness, and Market Demand, PayTabs walked away with the highest award distinction for companies specializing in the payments sector – the Top Companies in Payments Award. The judges agreed that PayTabs was a pioneer in the way it had impacted the global payments industry. And, that their brilliant insight and future readiness ensured they also captured the spirit of innovation.

PayTabs Innovative Approach

PayTabs has been providing a smooth way for entrepreneurs, financiers, practitioners, innovators, and enthusiasts to forge partnerships, grow businesses, and access global markets. They hold on to their core system of values to create a unique and secure gateway to their clients. Their smart dashboard is second to none in the way it helps businesses manage their deposits from one platform to the other. The fact that PayTabs gateway is equipped with a PCI DSS certification and anti-fraud protection allows them to enjoy global recognition.

With the latest award conferred upon them (among a series of other highly notable awards), PayTabs is geared to become a leader and pioneer in the payments gateway space.

Standing up to market trends 

The FiNext judging committee acknowledged hand-picking PayTabs from a list of incredible nominations. What worked in the favour of PayTabs was its ability to measure up to ongoing market trends and foresee client needs. They had increased their market demand by addressing these requirements of the market and responding uniquely to emerging trends. With the latest award, PayTabs continues to enjoy a successful journey as one of the premier payment gateway providers in the world.

About PayTabs:

PayTabs is a Saudi-based company that facilitates processing of online payments securely and efficiently. It was founded by Saudi entrepreneur Abdulaziz Al Jouf.

PayTabs caters to small, medium and large enterprises via different business models. PayTabs offers clients services to seamlessly ‘plug and play’ various features on to their websites. It prides itself on offering simple and EFFICIENT invoicing services for merchants and professionals.

PayTabs was awarded the title of ‘Fintech Company of the Year 2018’ at the prestigious Arabian Business Achievement Awards.

With dedicated offices in Saudi Arabia, UAE and presence in Bahrain, India and the Philippines, PayTabs is fast emerging as the preferred payment solution company.

5 years ago