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By JOE MAILLET 594 views

How to Accept Payments in an Online Store, Which System to Choose for This?

A varied assortment, attractive prices, a user-friendly interface – all this is not conducive to sales if the acceptance of payments in an online store leaves much to be desired. The convenience of the final step, when a potential customer has already made a purchase decision, depends on whether he will make it from you or from a competitor. And if there is no convenient payment method on the website of your online store, many will prefer to continue searching.

Payment systems today are diverse. What to choose, how to set up, and what is important to consider when using – the answers to important questions for every entrepreneur can be found in the article.

Payment methods in the online store

There are many of them, so it is short-sighted to impose one payment option on the client. Moreover, they can be found in abundance on the competitors’ websites. Most online stores prefer to combine several options for accepting payments, providing the buyer with two important advantages – choice and comfort.

Acceptance of payments in the online store using a bank card

It is easy and convenient to pay by credit card offline in various establishments. No counting bills, looking for a change, etc. The popularity of this form of payment is constantly growing because many customers prefer not to have cash with them without special needs.

Online entrepreneurs are successfully offering their customers this familiar payment method. The buyer clicks the “Pay” button and goes to the website of the payment system. Here he will need to enter the card details, including the CVC code on the back. Operation security is ensured by payment verification. Most often, for this, a code is used that the user receives in an SMS message. After confirmation of payment, the funds will be debited and the purchase paid.

There are many advantages to both sides:

  • The buyer doesn’t have to go anywhere. He pays for the purchase sitting on his favorite couch.
  • The money goes to the seller instantly.
  • This payment option is suitable for almost everyone due to the widespread use of bank cards. Even students and retirees have them.

Note: according to the Central Bank of the Russian Federation, as of January 1, 2019, there are 272 million bank cards in circulation in the country. This figure is almost twice the total population of Russia (146 million). Do you still only accept cash payments?

The main disadvantage is the still low level of trust in bank card payments. Many users are afraid of fraud and choose this method only for trusted online stores.

There are risks for entrepreneurs too. Fraudsters can place an order in an online store using someone else’s card, receive it, after which they will have to return the money to the legal owner of the card at the request of the bank. But such cases are rare – in general, the method of accepting payments is quite safe.

Bank transfer to the online store

This method of accepting payments in an online store is actually living out it’s last days. Too many actions are required for the user to complete.

To make a payment you need:

  • make a purchase in an online store;
  • receive from the seller a formalized receipt for payment;
  • fill it in;
  • go to the bank (where there may be a queue);
  • wait for the cashier-teller to process the payment.

In an age when everyone has a bank card and a couple of electronic wallets, few dare to do this. The funds will not reach the seller immediately, but two to four days after the payment is made. Only then will he send the goods. Therefore, this payment path from buyer to seller is literally the longest.

However, there is a major advantage that outweighs all disadvantages. This is the absolute security of payments made in this way. Bank transfer fraud, where the user needs a passport to make a payment, is completely out of the question.

Electronic money

Bank card substitutes are rapidly gaining popularity. Paying is as easy as using a card. For this you need:

  • choose this payment method;
  • automatically go to the payment system page;
  • enter your username and password if the user is not authorized in the wallet at the moment;
  • confirm payment, for example, by SMS.

Debiting and crediting funds, as with a bank card, occurs instantly, which is very convenient for both the buyer and the seller. The latter will have to pay for the comfort of use with a commission, which usually ranges from 0.5 to 5%.

The most famous e-wallets are Yandex. Money and Qiwi. WebMoney is quite difficult to use, so it is preferred by advanced users. However, the level of security is very high. Venmo is also a very famous mobile payment service.

Some payment systems have a purchase limit. For example, with Qiwi you won’t be able to pay for goods more expensive than 15 thousand rubles.

Payment from mobile phone balance

This method is popular for small purchases. Although modern mobile payment services allow payments in the amount of 10 to 15,000 rubles. But not many users have such amounts on their mobile phone accounts.

The process of making a payment is extremely simple:

  • the buyer chooses this payment method on the seller’s website and indicates a phone number;
  • he receives an SMS with the verification code;
  • it must be entered in the reply message and the payment is considered completed;
  • the user receives a notification of the payment on the mobile phone.

Important: Mobile payment systems usually do not transfer money to merchants immediately. 

They only notify him of the payment, after which he provides a service to the buyer. The funds are transferred to the online store after the end of the billing period, most often a calendar month.

Payment terminals

Another payment method for which the user will need to make physical efforts, that is, reach the terminal. The most popular today are Qiwi, which can be found in most supermarkets and shopping centers. For the seller, the commission is usually 1.5% of the payment amount.

The target audience of this payment method is retirees. They are the ones who are reluctant to master Internet technologies such as e-wallets and mobile payments, but it is convenient and familiar for them to replenish the balance of a cell phone or pay for other services using the terminal. Therefore, if the goods of your store are in demand among the elderly, be sure to include this payment method in your arsenal.


Despite the ubiquity of non-cash payment methods, the good old “cash” is not losing ground. In unfamiliar online stores, many prefer just this method of payment – to pay with a courier or at a pick-up point after they see the goods. Indeed, in this case, the risks for the buyer are minimized.

There are two ways for the seller to implement this service:

  • Deliver orders by the store’s in-house courier. In this case, according to the current legislation, you will need a new cash register or a POS terminal to record funds. The courier must always have cash with him – he will need it for change. The main advantage of this payment method is that the seller receives the money on the same day.
  • Conclude an agreement with a courier service. In this case, orders will be delivered by its employees, and the seller will pay the commission. The cash desk is not needed, since the courier company also keeps track of funds. At the end of the month or other billing period, the money received for the goods will go to the seller’s account.


Installment purchases are offered by many offline stores of household appliances, building materials, outerwear, and other large purchases. They are in demand and have long been familiar.

This option is not often found in online sales. However, offering it to the buyer can significantly increase sales, because those goods that he cannot buy immediately will be available to him. At the same time, the online store receives an important competitive advantage and stands out favorably against the background of others.

The loan is issued as follows:

  • the buyer chooses to lend as a payment method on the site;
  • then he needs to fill out a questionnaire with passport and other data on the website of the payment system;
  • approval from the financial institution that provides the loan is usually received within a few minutes;
  • after that, the first installment is debited from the buyer, and the seller sends the goods;
  • subsequent payments are debited according to the schedule.

The owner of an online store can choose from several options for conditions that he will offer to the buyer. Credit insurance minimizes risks.

What are the payment systems for online stores

Having decided how to accept payments in an online store, you need to choose a payment system to your liking. In addition to the above, the following points are important:

  • geography of the system, especially if your customers include residents not only from Russia. Conditions for payments from CIS countries, Europe, USA, and Canada, etc. should be studied separately;
  • conditions for withdrawing funds. How often and how quickly you can withdraw them.

Consider the services popular with entrepreneurs in more detail.

  • WebMoney
  • Yandex. Money
  • Payment system Qiwi Wallet
  • Robobox
  • PayPal
  • Fondy
  • Perfect money
Joe Maillet

Joe Maillet is an avid reader and a writer by heart. He is an author, freelance writer and a contributor writer, who write articles and blogs for various leading online media publications and for CEO and entrepreneurs from across the world. He keeps himself updated with the latest marketing trends and always recognized in the industry for providing solutions to B2B and B2C businesses.