Your guide to payments: How they work and how they’ll help you grow your business.
There’s a lot to think about when you’re growing your business. There's distribution and logistics, marketing communications, and customer service.
As you expand to new markets, the complexity only increases with language barriers, cultural nuances, local regulations, and local partners to deal with. It can be easy to overlook payments and leave them to the last minute. But if you do this, you’re missing a huge opportunity.
A report by Forrester found that businesses working with Adyen typically increased revenue by 1%. So, if your annual revenue is $50 million, you’re looking at an additional annual revenue of $500,000.
Not bad for a few hours development work. But how? Payments have the potential to unlock more revenue and give you an edge over the competition by:
This guide will walk you step-by-step through a payment flow and explain how each stage can help you close more sales while saving you money.
Before we dive in, it’s important to understand what actually happens from the moment your customer hits ‘pay’. Here’s a breakdown of the payment process.
The shopper hits ‘buy’ or enters their card into a pin terminal.
Gatewayen (eller utcheckningen) är gränssnittet mellan betalprocessen och konsumenten. För enkelhets skull kallar vi det för er utcheckning.
If the payment is online, the risk assessor checks the transaction to make sure it’s not fraudulent.
Om det är en kortbetalning kontaktar inlösaren konsumentens kortutgivande bank och ber om godkännande.
Betalprocessorn tar emot svaret från inlösaren, och utför antingen transaktionen eller informerar er om att den nekades.
If the payment is authorized, the money will be settled into your bank.
Each step along the way provides opportunities for optimization. The following chapters will explain how.
How payments work