How do I accept payment on my online store?
An easy start: What should you think about?
When you start an online store, being able to accept payments is probably the most important step. Without a way for customers to pay, you get no sales. But for many, it can seem complex to set up. Don't worry – it absolutely doesn't have to be! This guide will help you understand the different options and how to choose the easiest solution for you as a new online store owner.
The most important payment methods
Before we dive into 'how', it's important to know 'what' your customers expect to be able to pay with. There are two completely dominant payment methods that you absolutely should have on your online store:
Card payments (Visa, Mastercard)
Card payments are the standard in online commerce and must be in place. Many also expect to be able to pay with international cards like Visa and Mastercard.
Mobile payments
Mobile payments have become essential. Many prefer to use mobile payments because it's easy and fast. If you don't have mobile payments on your online store, you risk losing a large part of your potential customers, as they'll simply find another store.
Other payment methods
Depending on your product and target audience, other payment methods can be relevant, but for most new online stores, they're not a must-have from the start:
- Bank transfer: Requires manual check and is often slower. Not recommended as primary payment method for new online stores.
- Invoice/Credit: Allows customer to pay later. Can involve risk of non-payment and requires a system for follow-up.
- Apple Pay/Google Pay: Often based on cards the customer already has connected to their phone, and is a good addition, but not a replacement for direct card and mobile payment.
How payments work technically (very simply)
To accept payments on your online store, there needs to be a connection between your store and the bank that can handle the money. You can think of it as a series of 'intermediaries':
- Payment gateway: Think of it as a secure tunnel that sends your customers' payment information from your online store to the bank.
- Acquirer agreement: This is the agreement with a bank or financial institution that gives you permission to receive money from payment cards. Without it, you can't get the money into your account.
- Payment solution (or PSP – Payment Service Provider): Some companies combine both the payment gateway and acquirer agreement in one package. This makes it much easier for you, as you only need to have one agreement and one place to contact.
Does it sound complicated? This is where the choice of your online store platform becomes crucial.
Two main paths to payment on your online store
As a new online store owner, you typically have two paths to take when you need to set up payment:
Solution 1: Assemble your payment solution yourself (traditional)
This method involves you finding and entering into separate agreements with the different 'intermediaries':
- You find a provider of a payment gateway (e.g., Stripe, PayPal).
- You enter into a separate acquirer agreement (e.g., with payment processors) to be able to accept cards.
- You make a separate agreement with mobile payments if you want it.
Advantages: Gives you potentially more flexibility in choice of providers.
Disadvantages: Can be a long and technical process with multiple agreements, different prices, and you need to ensure everything "talks together" yourself. It often requires a lot of technical understanding and can be time-consuming.
Solution 2: Choose an all-in-one integrated solution (easiest for beginners)
This is the recommended path for you who want to make it easy. Here the payment solution is built directly into your online store platform. This means the platform has taken care of all the technical integrations and agreements for you.
For example, GoShup.com offers an integrated payment solution (called GoShupPay), where both card payment (Visa, Mastercard) and mobile payments are ready to use from day one, without you having to go out and enter into separate agreements. Everything is in one place, including support.
Advantages: Incredibly easy setup (often just a few clicks), no separate agreements or hidden fees, all support in one place, and you need no technical knowledge. Prices are often transparent and include everything.
Disadvantages: Less choice regarding payment provider (but rarely a problem for new online stores, as the most important payment methods are covered).
Which solution is best for you?
As you can probably guess, we strongly recommend the integrated solution for new online store owners and those who want a hassle-free experience. It saves you time, frustration, and potential technical challenges.
| Feature | Assemble yourself (traditional) | Integrated solution (e.g., GoShupPay) |
|---|---|---|
| Setup | Multiple agreements, complex and technical | One agreement, incredibly easy and fast |
| Prices | Can be unclear, multiple fixed fees and transaction costs | Typically transparent, everything included in a fixed or percentage price |
| Support | Multiple places to ask (gateway, acquirer, mobile payments) | One integrated support with your online store platform |
| Mobile payments | Often needs to be set up separately | Typically included from start, no separate agreement |
| Technology | Requires technical understanding and maintenance | No technical skills necessary |
Conclusion: Get started easily with selling
Accepting payment on your online store doesn't have to be a headache. By choosing an online store platform with a built-in, all-in-one payment solution, you can save yourself a lot of hassle and quickly get started with what's most important: selling your products. Focus on your business, not on technical setups!