G, Author at Paynt

Imagine this – a customer comes to your website, adds products to their cart, chooses their preferred online payment solution, maybe even fills out their delivery and/or billing address…and then, for some reason, leaves your website without a purchase.

That’s called shopping cart abandonment – an eCommerce term that refers to customers going through the sales funnel but not making the payment in the end. This is something you will have to deal with as a merchant, even if you accept cards, offer advanced payment solutions, or have the most streamlined shopping experience. 

Despite the fact that people have gotten used to online shopping – the number of digital buyers worldwide reached 2.14 billion in 2021 – online sellers still see an average of 70% cart abandonment rate

Is it bad? Obviously. 

Can you do something about it? Absolutely.

Let’s look at some common reasons why people ditch their carts and what can be done to prevent it. (Spoiler alert: you need to offer transparent and effortless online payment solutions).

Hidden or higher-than-expected costs

Unexpected or higher-than-expected extra costs revealed at the checkout are the single most common reason why people ditch their carts. 49% of shoppers would abandon their carts because of extra fees, according to a survey by Baymard Institute.

The problem is – online store owners don’t always make it obvious enough that there will be extra costs, such as shipping fees or taxes, added on top of the product price. Therefore understandably, if you’re planning to buy something for €50 and only at the checkout realize there are additional fees, say €15, coming on top of that price, you’re starting to have second thoughts. It won’t matter if the business has implemented the perfect online payment solutions. 

The solution? Increased transparency.

As an eCommerce business owner, you can make sure people are warned of – and prepared to pay – these additional fees. In other words, make it obvious on your website that extra charges apply. Alternatively, you include all these extra fees in your product price, while offering your clients free shipping and all taxes paid.

Compulsory account creation for checkout

Another common reason people abandon their carts is when they’re required to create an account to make a purchase. 

Look – first-time buyers don’t know whether they’ll ever come back. They don’t know whether they’ll like your product and shopping experience. Right now, all they want is to make a fast and friction-free purchase in a store that takes payments online.

Bear in mind that nowadays, as much as 65% of all eCommerce traffic comes from mobile devices while people are on the go. These buyers rarely have the time or suitable conditions to engage in such a time-consuming activity as account creation. As a result, they leave their carts and never come back.

The solution? Remove the obstacles.

That not only means forgetting mandatory account creation but also removing all the unnecessary fields in your address form at the checkout. Do you really need to know the client’s last name or phone number? Is checkout really the place to require your clients to answer the question where they heard of your business from? Probably not.

Make sure your checkout process is as short and straightforward as possible. Ask nothing more than what’s necessary.

Missing payment options

It doesn’t matter if you have the latest mobile pay card reader in-store or have the sleekest card payment solution online. The truth is: if your online store doesn’t allow customers to pay with their preferred online payment solutions, chances are they won’t make the payment at all. Nearly 10% of online shoppers would abandon their shopping carts if the retailer didn’t offer enough payment methods.

There are different preferred payment methods in different regions across the globe. For example, while PayPal and VISA are widely used across Europe and the US, shoppers in China prefer Alipay, UnionPay, and WeChat Pay. Not that the Chinese don’t use PayPal and VISA, it’s just not their first choice, which can therefore lead to higher cart abandonment rates. 

The solution? Offer a variety of alternative payment options.

The easiest way to do it is to partner up with a payments provider that supports the largest number of payment methods and has integrated payment systems. This would allow you to provide your buyers with a variety of payment options without the need to connect them one by one to your store.

Paynt is a physical and digital payment solution that would enable you to do just that. By providing an ever-growing range of online payment solutions, along with intelligent software, Paynt has helped its customers get ahead of the competition, while also cutting cart abandonment. 

Want the same for your business? Start by contacting the Paynt team today!

What keeps business owners awake at night? That’s right – the question of customer acquisition and retention. Every business’ goal is to attract more customers and/or sell them more of their products more often.

Payment options, alongside product pricing, fast delivery, and a friendly returns policy, play a critical role in customers’ decision-making process. What online buyers want is convenience at every step, including when it comes to the final step – paying for the goods. 

People are different, and so are their preferences when it comes to how they transact online. And, obviously, everyone expects the retailer to offer the payment method they prefer and are familiar with. 

What should retailers do to attract and retain their diverse pool of customers? The answer is – to offer a multitude of payment solutions. Because nowadays, it’s become a must in the war for the share of wallet. Accepting card payments is table stakes – you must do more to succeed. 

One payment method does not fit all

In essence, omnichannel payment solutions are all about providing your customer with options to spend their money the way they want…so that they come back for more and recommend your business to their friends and family.

For one customer, the preferred payment method will be debit or credit card, cash on delivery, or bank transfer. Other customers might look for more advanced payment solutions – mobile wallets or digital currency payments. This means that a typical business needs to be ready to accept and process payments through a variety of channels. 

Here, it’s also important to note that payment habits and preferences differ from country to country. For example, when shopping online, UK customers will most often reach for their debit or credit card, whereas Germans may choose to pay by bank transfer, Americans may use Venmo, and Chinese will pay with Alipay. Every geographical region has unique consumers who favor their own preferred payment solutions. 

On top of this, the global landscape of online payments for businesses is ever-changing, with new players entering the market all the time. So, now and always – your payment acceptance strategy will have to follow and adapt to the market you’re in.

Ultimately, you want to provide your customers with multiple payment options, while managing them under ”one roof” in order to have a 360-degree view of your customers’ payments. This can be done with Paynt, which also ensures bank-grade security for your business, including fraud detection. Secure online payment services also help customers feel more at ease. 

How to be on top of the dynamic payment solutions landscape

First of all, make sure that your business supports both traditional payment solutions, such as card payments and bank transfers, as well as emerging payment methods, like Buy Now, Pay Later (BNPL). 

BNPL, for example, is currently taking many developed countries by storm. From Klarna to Paypal and from Scalapay to Affirm, BNPL is the fastest-growing e-commerce payment method. Stats show that as much as one-third of UK adults have already used this payment option and its global market is forecast to grow to $419 billion by 2030.

Another payment trend to keep an eye on is installment payments – the option to pay for purchases over time by dividing the purchase amount into smaller equal payments. This former darling of traditional brick and mortar retail is now making inroads in online checkouts. Installment payments entering the e-commerce world is a great example of how shoppers are taking their preferred payment methods to new environments.

Another thing to do to stay on top is to make sure you offer your clients a seamless payment experience on your website. Not only should you offer various kinds of online payment processing, but you should also remove everything and anything that could distract your buyer from completing the payment. 

One way to do it is to follow a customer on their purchasing journey and through all the important payment touch-points. See how customers interact with your website or app! Nowadays, this can be easily done with heatmap tools, such as Hotjar, that allow you to determine where your customers click, what takes the most time, and where they drop off. Once you have this information, you can make improvements to the payment solutions you have in place.

Merchant onboarding has always been an important topic. 

The outbreak of COVID-19 has forced businesses of all shapes and sizes to re-evaluate how they can sell through the multitude of channels while offering the best possible experience for their clients. Accordingly, the resulting mass adoption of the necessary financial tools and solutions for enabling sales has been happening at a staggering pace across many industries. 

Nevertheless, merchant onboarding has remained one of the biggest areas of contention for financial services. Deloitte’s poll back in 2017 found that customers expect personalization and a far better experience from onboarding onwards.

With everything taking place online now, it’s never been more important for an merchant acquiring specialist and its partners to have a straightforward, quick, and adaptable merchant onboarding system in place because the alternative is bad news.

The frictions of merchant onboarding

As the first step for any business, merchant onboarding has become an essential piece of a broader market mentality for acquirers of all kinds, as the Mckinsey report found in 2020. Because of this, small and medium-size businesses have their sights set on payment providers that can provide the best (or least painful) process.

Even so, some major friction points stick out:

The consequences of all of this are something both merchants and payment providers have been dealing with through gritted teeth. The longer, more challenging, and less transparent the merchant onboarding process is the more time, work, and costs all parties incur. For the merchant, its future opportunities not being acted on. And for the partner? It’s days and weeks of no payment activity and a deeply annoyed ‘onboarded’ end-user.

Of course, businesses know that merchant onboarding is a means to an end. But that doesn’t lessen the frustration. According to North Highland’s research, 20% of onboarded customers drop away, even before making their first transaction. With a bad first impression for customers, the first 6-12 months suddenly become a ‘danger zone’ for customer drop-off.

For partners looking to get their merchants up-and-running and making transactions as fast as possible, a slow onboarding process would mean that, even before a customer got started, they’re already eyeing the door.

This isn’t acceptable, so, at Paynt, we’ve reinvented merchant onboarding. So much so that, where the average time from start to approval, where institutional payment provides take days, often weeks, to get users ready for action, Paynt gets merchants up and running in 24-48 hours*!

So, what sets Paynt apart? And what does it all mean for our partners? Let’s break it down.

Going the extra mile, automatically

One of the most annoying parts of getting signed up for financial services is knowing what kind of paperwork you need to have on hand to get through, which can sometimes feel more like an ordeal than work!

Finding and putting together all of the paperwork a business needs is such a hassle, it’s no surprise that 38% of business owners abandon the whole process to track down all the documents (on and offline) and get them submitted.

It’s an unspoken plus of Paynt when it comes to the merchant onboarding process, our team goes the extra mile. We track down all the information they need to get you fully approved and ready to do business – as soon as possible. 

Plus, we have developed an automated verification solution that, whenever possible, pulls the necessary information from various national registries, saving our clients a lot of time and legwork. Thanks to these smooth and automated KYC processes, some of our partners have been able to start acquiring on the same day they began the merchant onboarding process. 

Our partners don’t even need to worry about PCI/DSS compliance either, because the Paynt team takes care of that too!

Paynt’s dedication to transparency and continued improvement

Even with cutting-edge automated solutions and a proactive onboarding team, Paynt still constantly seeks new ways to improve, from the day-to-day operations to the systems in place.

Paynt’s client relationship and merchant onboarding teams regularly come together to uncover pain points that their clients face, collaborating to find ways to create a faster, more efficient payment process for Paynt’s users and partners. 

At the core of all our efforts lies transparency. That’s why during our digital merchant onboarding process, our partners can see exactly how far along they are and what next steps await, allowing them to get a clear picture of what is left to do to begin acquiring. 

What this means for our partners

Let’s circle back to the 3 chief merchant onboarding friction points and how Paynt has solved them:

Nipping these issues at the bud means we lay a positive foundation for long-term collaboration. 

Even looking at it from our partners’ perspective, dealing with users that have had a bad onboarding experience makes everything else an uphill struggle. Bad merchant onboarding means money lost, and a user might not stick around for much longer themselves, taking their business and transactions with them!

Paynt’s dedication to a user-centric service that goes the extra mile is a win-win-win. It lets merchants get onboarded quickly and efficiently, cutting down on time and costs for everyone involved.

The world of payments (and business) doesn’t have to be so complicated. Get to know Paynt, and how we can help set you ahead of the competition. 

*24/48 hour duration depends on factors like business size, access to paperwork, and associated risk with that business owner’s industry.

The world of payment solutions is ever-changing and if anything, it’s only getting more complex. 

In 2019, 708 billion payments were cashless. These not only include card payments, but also a variety of alternatives, such as:

In such a world, businesses that are able to offer their clients a variety of payment options, are the ones to win more customers. Because the stats are clear: people, especially younger generations, prefer online stores and services that allow them to pay with their most convenient payment method. And there are as many preferences as there are people.

This has created new challenges for payment acquirers and resellers. Businesses today require payment solutions that allow them to serve customers worldwide and adjust to their diverse needs and preferences. If a payment solution is unable to deliver this, it can seriously affect the business’ bottom line. This has put pressure on payment acquirers and resellers that now need to provide their clients with as many options for payment processing as possible.

The reality, however, is that resellers currently lag behind when it comes to meeting these market demands. Their onboarding is complex and slow, whereas their reporting systems are not up to par with what users expect – they’re expensive to maintain, outdated, and lack transparency, leaving users confused about how their business is doing.

This is about to change – meet Paynt, the new player in the world of online payment systems.

Since 2015, Paynt has been aiming to transform card and online payment acquisition by building advanced technological payment solutions, slashing costs, and saving time for its users and partners. All that while boosting efficiency and customer experience.

Paynt is challenging the status quo and focuses on three qualities:

Let’s take a closer look at each of them.


The Paynt solution ensures unprecedented transparency when it comes to onboarding and reporting.

Merchant onboarding with Paynt 

Before Paynt, the process of merchant onboarding was riddled with inefficiencies and lack of transparency – the process was long, included a number of unnecessary steps, and didn’t provide merchants with any status updates along the way. Basically, once you’ve submitted your application, all you can do is sit and wait, and hope for a positive reply. 

Paynt has solved this by providing its users – such as Independent Sales Organisations (ISOs) – a platform and onboarding tools that give the clarity and transparency their clients want. This allows them to attract more clients and boost their revenue.

Reporting with Paynt

Life’s much easier when you know where you stand – this is especially true when you’re running a business. As a business owner, you need to know how you’re performing, which clients are the most profitable, and more. This allows you to analyze your results and adjust your actions as needed.

What happens if reporting is incomplete or even nonexistent? That leaves you in the dark and can seriously damage your business.

Paynt brings together integrated reporting along with real-time insights, allowing resellers to know precisely where they stand and how their business is doing. They can follow the performance of their merchants, generate insightful reports and act accordingly.


For years, payment acquirers have been running a race to the bottom. The lower the price they’d offer to merchants, the higher would be the chances to attract and retain customers. But nowadays, increasingly more merchants value efficiency over price.

A lower acquiring fee won’t help much if the payment solution is cumbersome and requires a lot of involvement, both when setting it up and during daily use.

Paynt has developed an internal system that allows us to take care of some of the most cumbersome tasks for you, leaving you more time to focus on the things that matter for your business. 

For example, we’ve built a smart, frictionless, rule-based application and KYC process that automatically performs a significant amount of underwriting tasks via external integrations. This saves hours and requires significantly less involvement from the client being onboarded.


Being able to reply to your merchants quickly and timely is one of the biggest struggles of ISOs that usually manage up to a few hundred accounts at the same time. For merchants, this can be a deal-breaker – they want their payment processing partners to be accessible, transparent, and responsive.

For this reason, Paynt has built a solution for merchants that they can access to gain the insights they’re looking for. They can have a 360-degree view of every transaction, deposit reporting, and statement history. It’s available 24/7 and is the place for merchants to track their business performance. 

With these stats always at hand, merchants won’t need to reach out to their ISOs as often anymore. And with their inboxes emptier, ISOs will have more time to answer incoming questions and requests faster.

Paynt has got you covered

The world of commerce has changed dramatically, and ISOs and ISVs need to keep up with the times and growing requests from their clients. 

Paynt makes this easy. It allows you to offer your customers the largest number of online and offline payment processing options while giving you access to a highly advanced back-end platform that helps you serve your customers in a transparent, effective, and responsive way.

Want to learn more? Reach out to us now!

Few things in the business world are as exciting as launching in new markets – reaching fresh audiences and generating additional revenue streams unlocks new vectors for growth. 

That said, international expansion comes with its fair share of challenges. These range from complying with local regulations to shipping, logistics, and a myriad of operational issues related to accepting payments in the foreign currency, including offering the locally preferred methods of payment processing.

To illustrate, it’s common for European businesses to take payment cards for granted, given their ubiquitous use across the continent. Yet they’re far less popular elsewhere, e.g. China or Brazil, where alternative methods are in favor. 

So, if you don’t offer payment solutions that work for the locals, expect to see your cart abandonment shoot through the roof. Not all developed markets are created the same and the situation is even more colorful when it comes to emerging economies. 

Local trends, global impact

Unless you offer WeChat or Alipay as payment methods at the checkout, a Chinese customer is likely to abandon your store, never to return again. Not because they don’t like your brand or product, but simply because they don’t have a convenient way to pay for what you offer. 

The digital transformation of Chinese society is underpinned by the aforementioned super-apps, which are used by hundreds of millions of people, making them an indispensable part of their daily life. Convenience became a game-changer and online payment systems had to adapt and become an integral part of it. 

On a related note, eWallets are growing in popularity and use, with hundreds of solutions already available and new ones emerging by the day, finding broad and niche uses in every corner of the world. Accordingly, merchants need to keep a finger on the pulse of emerging trends to ensure their payment method offering is up to date with the latest regional preferences.

Latin America, for instance, accounts for the largest unbanked segment of the population on the planet. Close to 40% of Mexicans don’t have a bank account. The situation is similar in Brazil, where locals rely on solutions like Boleto – a paper slip sporting a barcode that can be scanned at any corner shop to make an online payment. Prevalent card fraud paired with low card acceptance rates has pushed such countries to take these routes in order to meet the demand of the general public. 

These examples highlight how each country is shaped by its own circumstances and payment infrastructures and the modern entrepreneur must be mindful of this when considering global expansion. 

A payment solution that caters to locals everywhere

That’s where Paynt comes into the picture – we have partnered with hundreds of local payment providers in order to give you access to this extensive network through one platform. Better still, you can mix and match local payment methods relevant to your business and integrate them into your checkout on an as-needed basis. 

There is a direct relationship between the availability of a given payment method and the conversion rate. So the benefits of offering a wide array of alternative payment methods are clear: you can launch operations faster, save time and effort, stay compliant with local regulation and unlock new revenue streams across multiple markets. 

Still, success requires deep local expertise you can only get from payment experts. Our team has done extensive research and integrated with local payment gateways for direct access into the countries’ payment infrastructures. Understanding both the requirements of the locals and merchants has allowed us to build an end-to-end technology platform offering a turn-key solution so you can have full control over your processing and settlement currencies, rates, chargebacks, and reconciliation through the interactive dashboard. 

Parting remarks

With the global payment processing landscape being so dynamic and fragmented it pays to have a partner who can help manage these complexities. Navigating current trends, such as the proliferation of cryptocurrencies, pay by bank, installments, buy now pay later solutions can be too much for an entrepreneur to manage on their own. But that’s why we’re here – our team would be happy to provide in-depth guidance and offer a helping hand so you can conquer new markets with confidence.

Today, let’s talk about Acquiring-as-a-Service.

Look – running an independent sales organization (ISO) can be quite a hassle, given that the key to business growth is being able to manage a large and diverse database of merchants. 

An average ISO usually has a few hundred merchants on their books. It takes a lot of time and human resources to manage hundreds of accounts, while constantly attracting and onboarding new clients.

We talked to several ISOs to find out what would make their lives easier and help them manage their merchants’ accounts more effectively. Here’s what we found: in an ideal world, all ISOs would have their own centralized system where they could have a clear overview of their current settlement with the merchant, as well as their financial performance. 

The problem, however, is that building such a system from scratch can be time-consuming and costly. So, now what?

What is Acquiring-as-a-Service?

Acquiring-as-a-service is a category of digital tools to facilitate client acquiring.

Think of it as acquiring management software that enables its users – such as ISOs, PSPs, and ISV’s – to do their job better and at a greater scale. At Paynt, we have created just that. 

Our client acquiring solutions allow ISOs to fully automate client onboarding, as well as manage and overlook their clients’ accounts in one place. Paynt also features a variety of built-in payment methods and card acquiring services to help service providers expand their offerings. Paynt-provided card acquiring services also easily integrate with other tools.

In a nutshell, it’s a comprehensive client acquiring solution that helps ISOs with everything from client acquisition and onboarding to payment acquisition and account management.

Now, let’s look at the benefits Paynt offers to its clients running ISO businesses.

An acquiring solution for more efficient and faster client onboarding

For ISOs, the biggest source of frustration in relation to onboarding processes and the tools that offer this service is how inefficient and cumbersome they can be. For example, you may be requested to submit the same document at various places, which takes time and a lot of sit-and-waiting for these documents to be processed.

Time is money, especially for ISOs whose business is built on commissions from each transaction. As long as merchants aren’t able to receive payments, ISOs are unable to earn commissions.

Paynt has built a scrupulous process where many of these application and onboarding processes are automated and optimized. Here’s what we offer:

Besides, Paynt is built on cloud architecture, meaning it’s accessible anywhere with an internet connection or mobile network coverage. You can literally onboard new merchants on the go and offer your merchants the option to fill out their applications on your mobile device, as you guide them through in person.

Improved transparency and better service for your merchants

The ISOs we consulted when building the Paynt platform admitted that for them being able to track the growth of their merchants’ turnover is crucial. After all, merchants with the highest turnover are the most valuable, and should therefore be paid special attention to.

For merchants, on the other hand, an important factor when choosing the ISO to partner up with is proactive customer service and timely payouts. This is another reason for ISOs to optimize their client account management so that they would be able to guarantee these things, which, at the end of the day, builds the company’s reputation.

Here’s how Paynt can help:

Once merchants are onboarded, their activities and overall performances are easy to monitor with Paynt’s intuitive user dashboards. The platform ensures complete, real-time commission reporting and payout summaries – the data that’s important for ISOs to follow in order to build a lasting, win-win relationship with their merchants. 

What’s more, Paynt has also built a dashboard for merchants where they can have a 360-degree view of every transaction, deposit reporting, and statement history. It’s available 24/7 and is the place for merchants to track their business performance. 

Proactive risk management for merchants using card acquiring services

Proactive risk management can make it or break it when it comes to accepting payments through card acquiring services. It allows companies to anticipate and control (or even eliminate) potential risks before they can damage the business, budget, or bottom line.

Paynt platform keeps an eye on 30 red flag indicators and notifies you about suspicious transactions and accounts on your portfolio. It also allows you to set up your own parameters to track suspicious activity, as well as create turnover caps and limits for certain accounts if necessary.

A client acquiring solution that’s built for ISOs

Paynt was built to make the life of ISOs easier so that they can focus on sales and generate new revenue streams in a more efficient way. The result is a plug-and-play solution for ISOs that are looking to offer multiple payment methods for their merchants with bank-grade security.

Want to find out more? Don’t hesitate to reach out to us!