How to enable an online payment system on your website + comparison of fees

Online payment has become imperative for all types of business, including the ones working with tours and activities. To enable future guests to pay online with a credit card, you must have a good payment system.

When faced with so many options, it is essential to choose the one that best suits your needs.

What is an online payment system?

An online payment system is an Internet service that allows payment by card and charges a commission for security and transaction processing.

Users or customers of your services are guaranteed additional security as they do not leave their data on multiple pages, but only on the page of the company that processes the transaction.

Payments are made on the service provider’s site, not yours, so service providers are also released from liability.

Benefits of an online payment system

The number of people booking online is expected to reach 700 million by 2023.

Statistics show that more than 90% of travelers research online, and 82% make a reservation online.

It is evident from this data that online payments should be integrated as soon as possible to the travel industry. The last thing you want is to lose potential tourists on your tour due to the absence of an online payment method.

Some of the advantages of such systems are:

Possibility of booking 24/7

Imagine getting reservations even while you sleep! Your tours and activities are available for booking 24 hours a day, and the entire booking process is fully automated.

As a result, the customer can book and pay for the tour without your intervention at any time of the day. Imagine how much time and tedious bureaucratic work it takes off from your to-do list.

Save time for both you and your guests

The guest can immediately book and pay for the tour or activity if you allow them to pay online. Online payment systems accept a wide range of credit cards which simplifies and enhances the user experience.

As a result, the tour and activities organizer has more time for a truly creative and fun job!

During this time, you can focus on providing the best experience to travelers and tourists on your tours.

Align your cash flow and sales

You get your money on time, without delay. Cash flow and sales are aligned. Furthermore, the online payment system allows you to apply a cancellation policy which greatly facilitates the refund.

How to choose an online booking system?

Some of the questions you can ask yourself when integrating a system are:

• What are the prerequisites for use?
• What is the amount of the activation fee?
• What is the commission per money transaction?
• Which credit cards are supported?
• Can the layout of the payment form be customized to the brand design?
• What security systems for money transactions does it use?
• What is the transaction processing speed?
• Do customers need to go through the registration process when making a payment?
• Is there 24/7 customer support?

Now that you know what you want to get out of it, it’s time to compare some of the most popular payment gateways:

PayPal

PayPal has quickly become a global leader in online payment solutions with more than 325 million accounts worldwide.

Founded in 1998, it is available in 202 countries and supports 25 currencies worldwide, and allows payments in a variety of locations, currencies, and languages.

PayPal is a simple system that works by redirecting customers to your website so that users can make their payments.

Fees:

• They start from 3,40% to 5,40% + fixed fee, depending on for country of residence. Find more details here.

Stripe

Stripe is available in 135 countries in 35 different currencies.

It helps companies simplify global expansion and optimize their payment infrastructure. They also simply add new business models and revenue streams.

Fees:

• 1.5% per transaction cost of online payment system + € 0.25 cost of conversion – refers to European Economic Area cards (+ 1% for UK cards)
• 1.9% for premium European Economic Area cards + € 0.25 cost of conversion
• 3.25% per transaction cost of online payment system for others + € 0.25 cost of conversion

Find more information about pricing and fees on this link.

Mollie

Mollie is a pioneer in the payments industry and one of Europe’s fastest-growing payment service providers. Founded in 2004, their payment API offers a custom-branded checkout and multiple payment methods to boost conversion. They work with more than 130,000 European businesses.

Fees:

• Starts from 1.8% to 2.8% + € 0.25 cost of conversion (€ 0.39 for the Netherland if paying with a Maestro card)

More detailed information can be found here.

Conclusion

It is crucial to offer guests the option of an online payment if you want to see your business succeed.

Give customers the opportunity to choose their preferred payment method, give them a choice. We are sure that you will quickly get used to the new way of booking.

Try Orioly for free first 14 days!

You will also have more time to concentrate on the reason why you are in this business, the satisfaction of your guests.

For all additional questions about the online payment system and setting it up, feel free to contact us at sales@orioly.com or visit www.orioly.com.

Also, if you liked this article and think it could benefit your colleagues as well, feel free to share it on your social networks.

ORIOLY
on June 10, 2022

by Lidija Šomodi