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Payment solutions provider Maya, formerly known as Smart Money, is behind one of the most trusted cashless payment apps in the Philippines. The app allows Filipino consumers to transfer money to their loved ones, business contacts, or billers from their e-wallets in an instant. Thanks to Maya, Filipinos from all walks of life enjoy the convenience and efficiency of cashless payments, which they use for purchasing and paying for essentials like food, telecoms, and utilities.
But did you know that Maya’s solutions aren’t just limited to retail or consumer payments? Maya Enterprise offers a number of products and services that were made with businesses in mind. So, if like many other enterprising Filipinos, you’ve opened your own ecommerce store, consider using the Maya products and services that will be introduced in this article for accepting and processing payments. If your store has a variety of excellent payment options, it will be easier to attract customers and secure their loyalty to your business.
Here’s a briefer on four services from Maya Enterprise that may be helpful to your ecommerce business. Leverage these technologies to increase your customers’ satisfaction, and grow your ecommerce business with them.
Many Filipino entrepreneurs choose to run their businesses from their own websites. Although this requires a bigger investment than signing up at an online marketplace, it affords many advantages to entrepreneurs. After all, it’s easier for ecommerce businesses to build brand equity and to curate customer experience when they have their own website.
If you run your ecommerce business from your own web property, you should definitely make sure that your customers experience smooth, fast, and trouble-free checkouts from your website. One way you can make checkout experiences better for your customers is to incorporate an all-in-one payment gateway on your website. Maya Checkout, for example, affords customers a range of payment options, accepting not just payment card payments but also those made via established and emerging e-wallet networks. If customers have the option to settle payments using the most common payment methods today, they’re more likely to make good on their purchase.
Maya Checkout also has dedicated plugins for specific ecommerce platforms, includingShopify, Magento, WooCommerce, which means you can optimize your customers’ payment experience no matter which of these platforms you use.
A checkout plugin isn’t the only technology that Maya offers entrepreneurs, however. Maya’s lineup of APIs and software development kits can help your web developers add even more useful features to your site. Direct integrations include a Payment Vault feature, which stores your customers’ card information for their next purchases, and also an option to pay via QR code. The software development kits, on the other hand, offer bolstered support for Checkout, Pay with Maya, and Payment Vault Tokenization.
If you’re not familiar with what APIs and software development kits do, you can ask for further information from your ecommerce website’s developers. In a nutshell, both technologies allow your customers to encounter a seamless tech environment for payments, and to use familiar third-party technologies to settle payments. Learning about the tech side of your ecommerce and knowing which technologies to invest in will help you get the competitive edge you need.
If your ecommerce business involves a smaller clientele, for example, people who purchase services from you, you can also explore Maya’s Digital Invoice system. This service can help you issue detailed and professional-looking invoices using a variety of easily customizable invoice templates. For your customers, the highlight of a Maya Digital Invoice is the ability to settle bills through Maya using either chat, SMS, or email.
This kind of invoice system benefits both you and your ecommerce customers alike. It allows your customers to see the fine details of their transaction and to settle it right away using channels that are familiar to them. On your part, if your customers can pay their transactions in a timely manner using the invoice, you have fewer cash flow problems to worry about. Invoices will ensure that you issue and receive payments on time, and therefore always have money in your coffers.
The Maya ONE device is commonly used in brick-and-mortar establishments to accept card and QR code payments from in-store customers. But the new Maya ONE Lite, an even more portable payment device, can help ecommerce entrepreneurs settle cashless-on-delivery payments for online purchases. This device is the size of a smartphone, and its familiar Android OS makes it just as easy to operate as a smartphone, too.
When customers want to pay for their online purchases in person, like at their address or during a meetup, use the Maya ONE Lite. You or your delivery personnel can facilitate cashless payments from virtually anywhere. Though the ordering process for your ecommerce business will take place mostly online, customers may appreciate the option of settling payments face-to-face. This payment option will also make your business more memorable to them, which you will definitely need in the face of stiff competition.
The Maya ONE Lite may be unable to print receipts and process magnetic swipe card transactions, but other than that, it does everything else the bulkier Maya ONE device does. It can accept dip (EMV) and tap (NFC) card transactions, and it can also accept Maya QR payments and payments made through other e-wallets.
One of the qualities that you need in order to be a successful ecommerce entrepreneur is an openness to innovation. Luckily, these four payment solutions from Maya aren’t difficult to adopt, and it won’t be long before you see the benefits of investing in new ecommerce technologies. Strengthen your business with payment-related technological tools, and upgrade with these four Maya Enterprise solutions.
Maya is powered by the country's only end-to-end digital payments company Maya Philippines, Inc. and Maya Bank, Inc. for digital banking services. Maya Philippines, Inc. and Maya Bank, Inc. are regulated by the Bangko Sentral ng Pilipinas.