Online businesses are the next move
We’re nearing the third year of living in the trenches of a pandemic, but in the words of Albert Einstein, “In the midst of difficulty lies opportunity.” Although the pandemic came in like a destructive whirlwind, the world of ecommerce had quite a different experience.
According to UNCTAD, a series of lockdowns lead to more consumers going digital, resulting in an unprecedented spike for ecommerce.
The shift went from purchasing at brick-and-mortar stores to the online space. As a result, increasing ecommerce’s share of global retail trade from 14% in 2019 to about 17% in 2020.
Did you know: South African ecommerce grew by 66% in 2020.
There is a growing need for reliable online payment methods in South Africa. With business ideas bubbling, new businesses being launched, and existing businesses adapting to the not-so-new normal – more businesses are looking to blend both online and physical stores, if they’re not operating purely online.
Why? It allows them the opportunity to meet their customers where they are. Whether that’s in-store or on their device.
And with that, there is much opportunity for a safe, easy and secure solution in the small business sector.
Say hello to the iKhokha Payment Gateway
First things first, before we delve into all that the iKhokha Payment Gateway has to offer online businesses, let’s unpack what a payment gateway is all about.
What is an ecommerce payment gateway?
If you’re anything like most millennials and Gen Z’ers, you’ve done some online shopping at least once in the past year.
Let's say you've just ordered a few grocery supplies from Mr D Food. At some point, you’ll need to pay for your food either using your debit or credit card. You'll fill in your card details, get a one-time pin (OTP) SMS or receive a prompt for your banking app to approve the payment, and then you'll pay for it. You're most likely unaware that there's a third party involved in this process because it's so seamless.
The third party is a service provider that allows the transaction between you and Mr D Food to happen. Without it, the transaction or online payment wouldn’t be possible.
So, if you’re a merchant on your way to starting an online business:
A payment gateway authorises a payment from the buyer to the seller. It permits your online business website to request money from a customer’s bank for products or services that they have purchased through the various available online payment methods. Assuming that it’ll be approved, the payment is then securely transferred to your bank account.
What is the iKhokha Payment Gateway?
You’ve probably heard the saying “the future of business is digital”. No matter how many times it’s been said, it still rings true.
Technology is meant to make life easier. And everything we do at iKhokha is timely and purpose-driven to make business easier. That’s why we’ve developed a better way to accept card payments for online business websites.
Enter iKhokha Payment Gateway - iKhokha’s online payment solution that offers a safe, easy, and affordable way to accept online card payments on your WordPress WooCommerce enabled websites.
The iKhokha Payment Gateway is a verified and secure WooCommerce payment gateway that offers your customers a seamless online payment experience.
And the best part? It’s an easy payment method that keeps all your card payments with one trusted provider.
The benefits of iKhokha’s Payment Gateway
Good things take time, and we took ours to ensure that we deliver an unbeatable online experience for your customers. To us, this means we’re bringing a fresh approach to how online business is currently being done that’s relevant and up to date.
The world of ecommerce has its own set of challenges, and running an online business in 2021 is no child’s play. You can imagine, the stakes are high because:
- Customer experience defines the success of your ecommerce website.
- It’s not just the old folks that don’t trust technology, a lot of us don’t because of cyber and data security. Ecommerce has to be a secure place for all parties involved.
- You need to convert your website visitors into paying customers.
- Picking the right technology or partner can make or break your business.
Did you know: In a Business Insider survey, 33% of South Africans still shop online as frequently as they did during the lockdown, with the majority of consumers (66%) splitting their purchases between ecommerce websites and brick-and-mortar stores.
So, let’s chat about the iKhokha Payment Gateway benefits.
With iKhokha’s Payment Gateway you get to:
1. Sign-up for FREE. Enjoy no monthly fees and no setup costs.
As we’ve mentioned, our aim is to provide a way to make it easier for the everyday South African entrepreneur to start, run and grow an online business while getting paid easily.
So with us, onboarding is free. Running and growing your business? That costs you close to nothing.
2. Save because we offer Africa’s lowest starting transaction rates, from only 2.85% (for both credit and debit card payments).
And the more you sell, the lower your transaction rates get.
3. Take Visa and Mastercard debit and credit card payments.
Visa and Mastercard are two major card service providers in South Africa. Here's a quick task, grab any debit or credit card from your wallet. The chances are, it'll be either of the two.
According to Statista, as of January 2021, the share of South African cardholders with Visa is 51 percent, with its major competitor Mastercard being slightly behind at 48 percent.
4. Accept 3D secure and PCI compliant payments.
3D secure payments are a significant benefit because it protects both customers and merchants from the threat of payment fraud. We’re also compliant with the PCI mandate, which credit card companies mandate to help maintain the security of credit card transactions in the payments industry.
So, if safety and security is the one thing you’re looking for, then we’d like to propose that you’re at the right place! Your customers will feel safe and so will you.
How the iKhokha Payment Gateway works
The process from picking an item to payment is seamless.
When the iKhokha’s Payment Gateway plugin is integrated into a WooCommerce online store, the customer will see the iKhokha payment gateway method on the checkout page. When the customer selects it, they will be redirected to a secure and PCI compliant iKhokha payment page.
We won’t just tell you; we’ll also show you.
All payments made by customers are linked to your existing iKhokha account. The money will be paid out within two business days as part of your usual settlements.
Get started and get growing
If you’ve reached this point of the article, you’re probably wondering how to get started with the iKhokha Payment Gateway.
How to get started with iKhokha’s payment gateway
If you’re an existing iKhokha merchant, you can be well on your way to taking online payments safely, securely and easily.
If you’re not an existing iKhokha merchant, you’re 5 easy steps away:
- Visit iK Pay Gateway.
- Register for iKhokha’s Payment Gateway by filling in the registration form
- Click the “Register Now” button.
- Get a call back from an iK Pay Online agent and get FICA approved
- Once you’re FICA approved, read the article to set up your iKhokha Pay Gateway plugin.
It’s that simple. We have no contracts. No extra costs. No surprises.
We make it easier to get paid online
This journey is never meant to be walked alone.
Although at this point you have all the tools to get you started, we’ve also got next-level support waiting to assist if you experience any trouble along the way. Setting up will be a breeze and selling will be done with ease.
Looking to trailblaze the world of ecommerce. Here’s a list of 15 ecommerce terms you need to know.
What are you waiting for? It’s time to grow your online business with an affordable and secure online payment solution. It’s time to say hello to better ecommerce. It’s time to get started with iK Pay Gateway.
Need help setting up? Our friendly consultants are here to assist. Simply contact us on Pay Gateway Contact or call us on 031 942 2233.