Many factors in e-commerce decide on purchase or order cancellation. In the checkout process, the customer's focus is on payment options. Payment in advance, invoice, direct debit, credit card, Paypal and Sofortüberweisung – who offers these covers all common payment methods.
Today it is important to decide on the start of an online shop already for a good partner who handles as many interfaces as possible. Anyone who dares to try to tie up their payment options through individual interfaces will notice the hurdles later on in their growth. Interfaces need maintenance. Why not give everything under one roof from the start? A roof is that of CrefoPay, a service behind which Creditreform stands as a stable company.
How does CrefoPay work?
CrefoPay works as a framework in which various payment methods are integrated and their connection to service providers are maintained and extended directly by the developers behind CrefoPay. In addition, CrefoPay offers an effective risk management system. This makes it possible to integrate effective fraud prevention, credit check and receivables management into the online shop in just a few steps. Instead of having to worry about every single integration, CrefoPay requires only a single connection.
The standards are offered in the complete CrefoPay solution. International interfaces are also available.
- CrefoPay bill
- CrefoPay direct debit
- CrefoPay prepayment
- Credit card (VISA, Mastercard)
Plugins for shop software
Developers can use the API interface of CrefoPay and integrate the interface individually into their own system. If you do not need individuality, you can use the available plugins for online shop software. Currently there is the CrefoPay plugin for the following shop systems.
Marketing does not end with the order. Your own brand should always stand by the full checkout and beyond in contact with the customer. From payment in the online shop to receivables management. If the customer stays in touch with the brand, he also combines the ease of payment and further service with this. CrefoPay is active as a third party in the background and provides the services as a white label variant.
Two-stage risk management
The conversion rate in the online shop must always be optimized. Why this is addressed exactly here? Quite simply: with CrefoPay's two-stage risk management, customers never receive a means of payment at checkout, but may not even be able to see it on the basis of individual criteria.
Example: A customer wants to place an order worth 500 EUR and pay on account. In a standard checkout, the shop has a limit for invoices i.H.v. 200 euros deposited. The customer chooses the payment method invoice, possibly enters further data and wants to order. The error message “Invoice for your order is not possible.”
Some customers will cancel the order process. That would not happen with CrefoPay. If an invoice is only possible up to 200 EUR, the payment method “Invoice” does not even appear. The customer is therefore not taken anything, but he does not even see it and thus does not come into the expectation.
The advantage of a two-stage test goes even further. If a customer already has to choose a secure means of payment (Paypal, advance payment, etc.) through defined criteria, then in the next step no credit check is required. And that really saves money for shop owners. With CrefoPay a credit check is not due on every transaction, but only if the need is there.
CrefoPay does not reinvent the wheel, but takes some steps different from its competitors. With Creditreform behind it, CrefoPay is in a strong position. The connection to CrefoPay streamlines many processes in the finance of online shops and should therefore be looked at closely. Already in the first days of a fresh shop it is worthwhile to have payment providers like CrefoPay on the screen.
Did you make your own experiences with CrefoPay and would like to say something about it? I would be glad if you announce yourself in the comments or write me an E-Mail with your experiences.
Cover picture: ID 98152794 / everythingposs / depositphotos.com
CrefoPay Graphics: crefopay.de