The Covid-19 crisis has accelerated the expansion of eCommerce towards firms and customers involving a long-term shift of e-commerce transactions from goods and services to everyday necessities.
The digital space has attracted businesses and consumers to either promote goods and services or purchasing and making an inquiry.
To reprieve companies conducting business electronically, Cooperative Bank has launched an eCommerce solution that will help business people get more customers by expanding payment options through online card payments.
The solution can also be used by merchants without a website freely and without integration.
Without a website, the merchant receives a unique link (Pay-By-Link) which they will use to invoice their customers.
“It works as follows; Once the merchant and the customer agree on the pricing, the merchant sends the payment link to the customers email address. The customer will then receive an invoice with the link on their email opening up a portal where the customer will insert their card details and the amount they are to pay,” states the bank.
Once the payment goes through, the merchant will receive a payment confirmation via email and SMS as well as the in the event they have subscribed to SMS alert with their card provider.
Meanwhile, merchants with a website or mobile application (APPs), the integrations models are easy and quick to implement.
The solution once integrated to a merchant site is available 24/7 and also a dedicated relationship management is backed by 24/7 operations support.
Additionally, Co-opBank eCommerce platform is payment card industry – data security standard (PCI-DSS) compliant ensuring safety and security of customer card details
It also creates convenience to customers by overcoming geographical limitations.
The advantage of Co-opBank eCommerce is that the merchant does not incur any cost to get the Pay-By-Link solution.
“The solution is secure, because it is 3D secure, with two-factor authentication for all card payments. The customer cannot reverse a payment, which reduces the risks of merchants losing money to dubious dealers while payment reconciliation is easy for the merchant since they can track payment and view payment from a single dashboard,” states the lender.
Further, in the event a customer makes a wrong payment, the merchant can reverse the payment without calling the bank for a reversal.
For more information visit Co-op Bank eCommerce website.
