How Are Fintechs Enabling Seamless E-commerce Experiences?
Fintech is a gamechanger for every industry
Fintech has empowered e-commerce businesses in many ways. E-commerce is evolving with the help of Fintech and easing out the industry’s online payment systems. This allows customers to complete their financial transactions seamlessly. Some of the most common examples of Fintech in e-commerce are PayPal, Google Wallet and Apple pay.
It is estimated that the demand for fintech in e-commerce is going to grow by 25% by the end of 2025. Here are a payment innovations that have had a positive impact on the overall growth of E-commerce businesses.
A few popular Fintech players helping e-commerce thrive worldwide:
Boston based startup, Flywire helps businesses create personalized payment platforms for a wide array of international industries such as education, travel and healthcare. When it becomes difficult to keep track of the payments while dealing with international clients, Flywire offers great solutions for a friction less mechanism. Flywire effectively reconciles global payments, allows refunding keeping in loop all the involved parties in real time.
Aeropay utilizes fintech payments in such a way that it saves businesses from paying additional credit card fees. While paying through a debit/card, the bank charges some percentage of fees against the payment. Aeropay helps the customer sync the bank account directly with its app eliminating the need for charging these fees.
Doxo is a well-known payment platform where billing becomes easy. Instead of having various platforms to pay the utility bills, insurance premium and so on, the DOXO users can directly sign in to their account and send across money from a secured platform. Currently they have 50,000 happy users with a growing base.
PayPal is a software that doesn’t need much introduction. Besides being one of the best payment gateways in the world, it is also offering unique features to e-commerce businesses to ensure frictionless transactions for their customers. The checkout process with PayPal is known to be convenient and customizable.
Headnote is a popular payment platform for the legal industry. This platform bears various techniques and platforms to accept payments from lawyers via credit cards, portal payments, e-check and so on. Headnote features a unique analytics dashboard that facilitates the law firms to automate their receivables conveniently.
Quad Pay can act as a great Fintech Platform for industries because it lets the customers pay their amount in installments rather than paying all at once. The payments are spread with 0% interest that allows customers to plan their purchases properly and increase the average value of the order by 30%.
This Fintech platform offers seamless payment processing along with fraud protection for all kinds of e-commerce websites. Bolt lets you add it to the website very conveniently as there are fewer form fields with a mobile-friendly interface and a stunning analytics dashboard. With the help of Bolt’s payment processing, the cart abandonment is reduced by 10-20%.
Affirm is a unique Fintech platform that offers e-commerce buyers the facility to pay off their bills over an extended period of time, which is up to 36 months. Customers are happy to choose various payment options and purchase anything from a pair of shoes to cars and clear the payments over a few upcoming months in the way of installments.
Checkbook offers amazing ways to businesses as well as individuals to monitor their payments. With features such as automatic reconciliation, instant payments and the ability to disburse checks to multiple payees, Checkbook is helping large companies such as DHL to cut down their costs and times that is otherwise used in clearing check-based payments.
From helping to achieve unified e-commerce, strengthening financial data, to boosting growth in e-commerce, Fintech is doing a marvelous job by offering top-notch payment gateways to e-commerce websites.