PAYMENT METHODS FOR SHOPIFY STORES

IN PAKISTAN
Lecture 9
TABLE OF CONTENTS

 INTRODUCTION
 IMPORTANCE OF PAYMENT METHODS
 POPULAR PAYMENT METHODS IN PAKISTAN
 INTEGRATION WITH SHOPIFY
 SETTING UP PAYMENT METHODS IN SHOPIFY
 SECURITY AND TRUST
 OPTIMIZING PAYMENT EXPERIENCE
 LEGAL AND COMPLIANCE CONSIDERATIONS
 TESTING AND MONITORING
INTRODUCTION

 In this presentation, we will explore the various payment options available

for Shopify store owners in Pakistan, enabling them to effectively process
transactions and grow their businesses.
 An electronic payment system is a means of making payments online
without the use of cash. It can be done using credit cards, debit cards, e-
wallets, bank transfers and so on.
IMPORTANCE OF PAYMENT METHODS

 Payment methods play a vital role in the success of an online store.

 Secure payment process enhances customer trust and improves conversion rates.
 Offering a variety of payment options ensures convenience for customers and
helps cater to a wider audience.
 PAYMENT METHOD

 A payment method refers to the specific way or instrument through which a

customer chooses to pay for a product or service during the checkout process.
 It represents the options available to customers for completing a payment
transaction.
 Payment methods can include various forms such as credit cards, debit cards, digital
wallets (e.g., PayPal, Apple Pay, Google Pay), bank transfers, cash on delivery
(COD), and other localized payment solutions.
 Customers select their preferred payment method from the available options
provided by the merchant.
 Merchants need to integrate multiple payment methods into their e-commerce
platforms or online stores to offer flexibility and cater to the preferences of their
customers.
PAYMENT METHODS IN PAKISTAN

 Cash on Delivery (COD): Widely used and preferred payment method in Pakistan.
Customers pay in cash upon delivery of the product.
 Bank Transfer: Customers can transfer the payment directly to the merchant's
bank account.
 Mobile Wallets: Popular mobile wallet options include JazzCash, Easypaisa, and
SimSim, which allow customers to make payments using their mobile phones.
 Debit/Credit Cards: Accepting payments through Visa, Mastercard, and other
major cards using payment gateways.
 PAYMENT GATEWAYS

 A payment gateway is a service that acts as a bridge between an online store

(merchant) and the financial institutions (banks, credit card companies) involved in
processing payments.
 It securely authorizes and processes the transaction by encrypting sensitive
customer data (such as credit card information) and transferring it between the
customer, the merchant, and the financial institution.
 Payment gateways facilitate the communication between the merchant's website or
e-commerce platform and the financial institutions to enable the transfer of funds.
 They often provide additional features such as fraud detection, currency conversion,
and recurring billing.
 Examples of payment gateways include Stripe, PayPal, 2Checkout, Braintree, and
Authorize.net.
PAYMENT GATEWAYS
INTEGRATION WITH SHOPIFY

 Shopify provides seamless integration with various payment gateways, making it

easier to accept online payments.
 Popular payment gateways supported in Pakistan include:
 2Checkout
 PayFast
 PayTabs
 Razorpay
 Stripe
SETTING UP PAYMENT METHODS IN
SHOPIFY
 Log in to your Shopify account and navigate to the "Settings" tab.
 Click on "Payment providers" to access the available options.
 Choose the desired payment gateway and follow the instructions to set it up.
 Configure your account details, including API keys and credentials.
 Customize the checkout experience to provide a seamless payment process for
customers.
SECURITY AND TRUST

 Address customer concerns regarding online payments by ensuring a secure

environment.
 Implement SSL certificates to encrypt customer data during the checkout
process.
 Display trust badges and secure payment logos on your website to instill
confidence in customers.
 Regularly monitor transactions for any suspicious activities.
OPTIMIZING PAYMENT EXPERIENCE

 Simplify the checkout process by minimizing the number of steps required.

 Offer guest checkout options to reduce friction and encourage first-time
customers.
 Provide clear instructions and error messages to guide customers through the
payment process.
 Enable automatic currency conversion for international customers.
LEGAL AND COMPLIANCE
CONSIDERATIONS
 Familiarize yourself with legal requirements and regulations for online payments
in Pakistan.
 Ensure compliance with the Payment Card Industry Data Security Standard (PCI
DSS) for card payments.
 Keep track of tax regulations and incorporate necessary tax calculations in your
payment process.
TESTING AND MONITORING

 Perform thorough testing of your payment methods to ensure smooth

processing.
 Conduct regular checks to monitor transaction success rates and identify any
issues.
 Analyze customer feedback and adapt your payment methods based on their
preferences.