Marketing

Paying via WhatsApp opens up new opportunities for online retail – eCommerce Magazin

The only requirement to use the new sales channels is that the customer uses WhatsApp or WeChat. The retailer enters the amount to be paid and sends it to the customer’s mobile phone number. The customer receives a WhatsApp message with a PayLink. A “click” on the PayLink opens a new one secured internet connection to the Payment Service Provider (PSP) and then follow the information.

The merchant has three options for sending the PayLink:

  1. Straight from his mobile phone
  2. Via his back office, which is provided free of charge
  3. Via his own CRM / ERP systems (fully automated process)

Each individual transaction is documented in the retailer’s back office for later analysis and post-processing in real time.

Distribution channels: advantages for e-commerce retailers

In Germany alone there are over 58 million (2 billion worldwide) active WhatsApp users who can be addressed directly and via mobile using his payment methods from his shop. This immediately opens up new sales channels such as online parties, live stream shopping, call center solutions, order services and more.

Very important for the retailer: Payments are always made in real time and are guaranteed. You can also use the free back office at any time new payment methods (Credit card, instant transfer). Another advantage is that if the credit card is accepted, the payment to the merchant is per day + 1. After making the payment, the customer immediately receives a binding payment receipt on his smartphone.

The advantages of payments via WhatsApp at a glance:

  • There is no need for the customer to enter data on the retailer’s terminal
  • Development of new markets / sales channels
  • Payments are real-time and guaranteed.
  • Reduction of the “CheckOut aborts”.
  • Immediate delivery / handover of the goods possible
  • Increased liquidity through fast guaranteed payment and a reduction in the risk of default

Integration of the payment method “Pay via WhatsApp”

The retailer is provided with a central back office free of charge. The connection of his e-commerce environment to the back office takes place via a standardized interface. The interface allows easy Connection of the web shops up to the connection of customer’s own CRM / ERP systems for full automation. In addition, several of the customer’s shops can be operated in parallel via the back office. The customer can decide which payment methods should be offered in the shops. Additional contracts are not necessary.

Security of the “payment method via WhatsApp”

As an approved international payment service provider Lyra Network in accordance with the steadily tightening requirements and specifications of the Payment Card Industry (PCI), obliged not to make payment data accessible to third parties at any time. Compliance is checked annually. Accordingly, the payment method “Pay via WhatsApp” was also developed under these strict guidelines and requirements. This ensures that WhatsApp / Facebook do not become aware of payment data at any time. The General Data Protection Regulation is observed.

Also read: Checkout process: These mistakes cost retailers a lot of sales