With eCommerce and mobile money payments on the rise, and the persistent problem of informal, unsafe, transactions, the need for secure online payment gateways is now top priority.
Online payment gateways in Uganda offer the empowerment that businesses and independent sellers so desperately need to enjoy high transaction success rates and receive payments from customers swiftly and safely.
Sellers can accept payments using multiple currencies, payment methods, and platforms with added support through fraud protection, risk management, and transaction reconciliation.
At Flutterwave, for example, we allow businesses to make and receive payments from customers anywhere in the world—whether on phones, online, or in-store—in their local currency on desktop, Android, and iOS. You can collect payments in over 150 currencies (including Naira, Dollars, Pounds, Euro, and Yuan) through multiple popular payment methods.
However, as online payment gateways are still relatively new in Uganda, the multitude of benefits they hold for merchants are largely unknown. Let’s take a closer look at what you can expect to enjoy.
Increased Security Of Payments
Security has long been the primary worry amongst merchants and consumers alike when considering online payments. However, online payment gateways have been specifically developed to guarantee the safety and security of online transactions in the eCommerce industry – depending on the one you choose, of course.
Most premium payment gateways in Uganda are PCI DSS compliant, meaning they are certified providers of protected, secure networks. They host payment web pages designed to ensure the security of sensitive data, encouraging consumers to purchase online by instilling a sense of confidence.
Some gateways’ security measures exceed even industry standards! For example, at Flutterwave, we are proudly ISO 27001 & 22301 certified and PA DSS & PCI DSS compliant, meaning we have exceeded the highest level of Security Audit and have ethical, transparent business practices, processes, and continuity plans.
Receive Payments Instantly
Gone are the days of manual payments! Even in Uganda, they are becoming almost archaic for their sluggishness and unreliability. For example, cheques can take up to a week to process with the added risk of unavailable funds in customers’ bank accounts. Online payment gateways solve this issue, offering instant online payments and the ability to immediately accept them, with confirmation notifications putting you at ease.
Some gateways even boast intelligent invoicing features, allowing you to keep track of payments. With Flutterwave Invoicing, you can create, send, and track invoices via email or WhatsApp in over 150 currencies, with the option to send automated reminders for overdue payments.
Enjoy the modern convenience Of mobile payments
With 60% (26.83 million) of the Ugandan population using mobile phones in January 2020, mobile payments are fast gaining traction in our eCommerce industry. They have usurped cards and cash due to their speed, effectiveness, and availability of financial services without a bank account. With more and more consumers shopping online from their smartphones in Uganda and the world as a whole, online payment gateways are the medium you need to accept mobile payments.
In fact, many premium gateways in Uganda are now offering a multitude of payment methods to help you cater to your customers’ needs. This is essential in securing sales, as a lack of popular payment methods acts as a barrier to purchasing, increasing shopping cart abandonment exponentially. At Flutterwave, your clients can pay you through debit and credit cards, bank accounts and transfers, Mobile Money, M-Pesa, POS, Visa QR, and USSD.
This is but the tip of the iceberg when it comes to the benefits of online payment gateways in Uganda for eCommerce sellers. If you’d like to learn more about Flutterwave as a payment gateway, merchant success stories, and industry developments, please take a look at our blog.
Feel free to chat with one of our consultants to answer any questions you may have, or start growing now and create your account here!