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Genstore supports all payment methods through third-party providers to process your transactions. Please note that third-party providers may charge additional fees and have rules regarding sellable products. When setting up payment methods, consult with the payment institution to fully understand their rules and fees.
Genstore offers multiple payment methods to help you choose the most suitable option based on your target consumers' preferences. This section explains various payment options and their features to help you make the best choice.
Overview of payment methods
Online payment methods
- Credit card payments
- Genstore Payments
- Third-party payment providers
- Other online payments
- PayPal
- Apple Pay
- Google Pay
Manual payment methods
- Cash on delivery
- Bank transfer
Online payment methods in detail
Credit card payments
Genstore Payments
Genstore Payments provides a simple and direct online payment method. With this option, you don't need to set up complex third-party payment services or merchant accounts to start receiving consumer payments. Genstore Payments also supports Apple Pay and Google Pay, giving consumers additional payment options.
Advantages:
- Easy to set up
- Supports multiple payment methods (including Apple Pay and Google Pay)
- Centralized management of all payments
Best for: Merchants who want to quickly enable online payments and offer multiple payment options.
Third-party payment providers
If you don't meet the requirements for Genstore Payments, you can choose other third-party payment service providers, such as Stripe or Airwallex. These providers also support online credit card payments and may offer more customizable features.
Advantages:
- High flexibility, with multiple payment options
- Suitable for businesses of all sizes
- Rich integration features
Best for: Merchants needing more customized payment solutions or who don’t meet the criteria for Genstore Payments.
Other online payments
In addition to credit card payments, consumers can use PayPal and other online payment tools to complete transactions. These methods typically direct consumers to external checkout pages, and after payment is complete, they return to your store to view the payment confirmation.
Advantages:
- Offers more payment options, improving the user experience
- High security, reducing payment risks
Best for: Merchants who want to provide a variety of payment options to consumers.
Manual payment methods in detail
Cash On delivery
Consumers pay for the product upon delivery. This is suitable for local delivery or merchants in specific regions.
Advantages:
- No online payment setup required
- Offers additional payment options, which may increase sales opportunities
Disadvantages:
- Processing time can be longer
- May increase logistics costs
Bank transfer
Consumers complete payments via direct bank transfers. This method is suitable for high-value transactions or specific customer groups.
Advantages:
- Ideal for high-value orders
- Secure and reliable
Disadvantages:
- Longer processing time
- Requires manual payment verification
Things to consider when choosing a payment method
When choosing a payment method, consider the following factors:
- Target consumers’ payment preferences
- Fees and cost structure of the payment method
- Ease of setup and management
- Security and payment protection
- Support for multiple payment options