Telecom
Wix Payment Integration as Revenue Booster for Online Businesses
As online transactions increase year-on-year, the need for businesses to retain customers, reduce cart abandonment and grow their revenue becomes paramount.
One solution for businesses looking to leverage payment to attract and retain customers is payment integration on Wix, a robust platform with a comprehensive suite of tools designed to streamline online transactions and enhance the way businesses handle online payments.
The digital economy thrives on the ability to conduct transactions swiftly and securely. Hence, the ability to process payment seamlessly has become a necessity for every business that aims to provide excellent experience for its customer base. Any hiccup in the purchase process can lead to abandoned carts, lost revenue and diminished customer trust. Seamless payment processing ensures that customers can complete their purchases effortlessly, boosting satisfaction and loyalty.
Overview of Payment Gateway Integration for Wix Stores
Wix integration delivers a feature-rich platform that caters to businesses of all sizes. It provides an array of functionalities designed to enhance the payment experience:
- User-Friendly Interface: Intuitive design makes it easy for businesses to set up and manage their online payments.
- Secure Transactions: Advanced security measures protect both businesses and customers from fraudulent activities.
- Instant Payouts: Fast access to funds can significantly improve a business’s cash flow, allowing for better financial planning and stability.
- Multiple Payment Options: Support for various payment methods, including credit/debit cards, mobile money and other local payment systems.
- Multi-Currency Support: This feature is crucial for businesses with a global customer base, allowing customers to pay in their preferred currency.
- Global Reach: Ability to accept payments from customers worldwide, broadening the potential market for businesses.
- Real-Time Analytics: Comprehensive reporting tools to track sales, monitor performance, and make data-driven decisions.
How Integrating a Payment Gateway Addresses Common Pain Points for Wix Store Owners
Integrating a robust payment gateway, such as SeerBit into Wix effectively addresses several common pain points associated with online transactions. Some of these are:
Limited Payment Options:
Your online store most likely has a diverse range of customers and each person has their preferred payment method. Failure to provide their preferred option may lead to lost sales and cart abandonment. Over some time, this may lead to cash flow issues as revenues are affected. However, a payment gateway allows you to offer multiple payment options on your checkout page, reducing the possibility of lost sales and cart abandonment, and improving customer satisfaction, while allowing you to cater to and retain a broader customer base and potentially boosting your sales revenue.
Poor Checkout Experience:
A poor or complicated checkout experience is one of the major reasons why shoppers abandon their carts. People tend to exit the checkout page if payment is not seamless and straightforward. However, this is a problem you can’t handle on your own as a store owner. That is why you need a payment gateway integration. A payment gateway helps to optimize the checkout page, ensuring the experience is seamless for shoppers. By removing friction with features, such as one-click payments, customers can complete more of their purchases. This improves the customer experience with your business, leading to increased customer retention and sales, and fewer cart abandonments.
Payment Security:
Statistics show that 18% of shoppers do not complete their purchase because they don’t think their payment information is safe with the -ecommerce retailer. Security is clearly a major concern for both store owners and customers. Many shoppers don’t complete purchases due to fear of fraud and data breaches. The best way to win their trust and ensure their payment details are protected is by integrating a payment gateway into your store. Payment gateways come with robust security features, such as PCI DSS compliance, SSL encryption, and other fraud prevention and detection tools, which keep customer data safe and build trust and confidence in your store.
International Payments:
It can be challenging for online stores to deal with international transactions, especially having to deal with issues, like currency conversion, regulatory compliance and international fees. However, by integrating a payment gateway, you get support for multi-currency transactions, without dealing with avoidable issues. This capability allows you to expand your business to a global market, increasing your client base and driving revenue growth.
Benefits of Integrating SeerBit Payment for Your Wix E-Commerce Store
The SeerBit payment gateway provides businesses of all sizes and across any industry with frictionless payment processing. For e-commerce businesses on Wix, this fast and seamless payment processing can lead to increased customer retention, revenue growth and reduced cart abandonment.
Here are specific ways SeerBit is beneficial to you as a Wix store owner:
Streamlined Payment Processing
Seerbit’s automated payment processing system helps to save time and minimizes errors due to manual intervention. Transactions are processed quickly and efficiently, ensuring your customers remain happy while improving cash flow for your business.
Cost efficiency
Seerbit’s competitive transaction fees reduce the overall cost of payment processing for your business, helping you save costs and ensuring you maximize your business profits.
Scalability and flexibility
We help your business grow and expand into multiple countries across Africa by helping you receive payments in multiple currencies. This leads to an increase in transaction volumes as your business scales, but we also scale with you, handling the higher transaction volume appropriately, while ensuring that payment performance is not compromised. Our intelligent routing system ensures each transaction goes through the best-performing processing route for higher success rates.
Analytics & Seamless Reconciliations
SeerBit allows you to view your payment analytics and reports across your channels on the dashboard. You get detailed reports that help you track sales, identify trends, and monitor sales performance. This insight allows you to make data-driven decisions about your marketing strategies, inventory management, and customer engagement.
In addition to addressing the common pain points that Wix store owners face, these are some of the benefits you’ll get by adding SeerBit as the payment gateway on your Wix store. You can open a SeerBit account here.
How to Integrate SeerBit Payment to Your Wix Store
Here is a short walk-through video to guide you through the process of adding SeerBit as a payment gateway on your Wix store.
Alternatively, you can follow the steps below:
- Log into your website on your Wix account.
- On your dashboard, you will see a menu list on the left. Click on “Getting Paid” and from the drop-down list, click on “Connect & Setup”.
- Click on the “Connect Payment Method” tab in the centre of your screen
- Choose SeerBit from the list of payment gateways.
- Connect SeerBit to your Wix store by following the on-screen instructions. This includes typing your public key and secret key and clicking on “Connect” at the bottom of the screen. You can retrieve your public and secret keys from your SeerBit account dashboard under the Account Settings menu.
- After connecting, configure your preferred payment settings, such as payment methods, accepted currencies, shipping options, etc.
- Test your integration to ensure everything is working perfectly before launching the payment gateway on your website.
Conclusion
Explore the power of payment gateway integration for your online store on Wix to improve payment processing and operational efficiency, while driving revenue growth for your business.
Telecom
TD Africa Launches TecHERdemy to Empower 400 Nigerian Women in Tech
In a significant milestone for women in tech, TD Africa officially launched the TecHERdemy program yesterday, 13th November 2024, an initiative aimed at equipping 400 young Nigerian women with essential digital skills to succeed in today’s technology-driven world.
The launch event, held in the Yudala Height Building of the company and co-sponsored by global brands like Huawei, Microsoft and Cisco, brought together participants who had completed a series of online assessments to secure a spot in this highly anticipated program.
Mrs. Chioma Ekeh, ceo of TD Africa, expressed her enthusiasm for the TecHERdemy program, emphasizing how closely it aligns with TD Africa’s mission of “Empowering You.”
She reiterated that the training would offer the participants invaluable skills and insights to help them thrive in the technology sector.
“TecHERdemy is not just a training program; it’s a launchpad to a brighter future for each of you.
“I encourage you to seize this opportunity, as it is a chance to bring positive change, not only in your lives but also to empower others in your communities and beyond,” Mrs Ekeh remarked.
As the co-sponsor of the program, Huawei was represented by Gary Li, Channel Director, who expressed Huawei’s commitment to partnering with TD Africa to make this initiative a success.
“Huawei is proud to be part of TecHERdemy, a program that mirrors our commitment to innovation and equality in the tech sector.
“We are dedicated to supporting each participant’s journey, ensuring they gain industry-relevant skills to meet global standards,” said Mr. Li.
Participants were introduced to the core courses they will undertake over the next six months, which include Cybersecurity, Data Science, Artificial Intelligence, and Software Development.
Each course will be delivered by industry experts to ensure hands-on, practical learning that meets international standards. Successful graduates of TecHERdemy will receive certificates and job placement validating their new skills and expanding their career prospects in the fast-growing tech sector.
The launch of TecHERdemy underscores TD Africa’s commitment to bridging the gender gap in the tech industry by fostering a more inclusive and equitable landscape for all.
By investing in the next generation of female tech leaders, TD Africa and its partners are contributing to a more empowered and digitally savvy Nigeria, paving the way for a brighter future for women in technology.
Telecom
EU Hits Meta with $840M Fine for Abusive Facebook Ad Practices
European Union has fined Meta nearly €800 million for violating antitrust laws by automatically granting Facebook users access to its classified ads service, Facebook Marketplace.
The European Commission accused Meta of abusing its dominant position by imposing unfair trading conditions on rival classified ad providers who advertise on its platforms.
“This is illegal under EU antitrust rules. Meta must now stop this behaviour,” said Margrethe Vestager, the EU’s competition commissioner, in a statement.
Meta announced plans to appeal the decision, arguing it misrepresents the competitive environment in Europe. “Facebook users can choose whether or not to engage with Marketplace, and many don’t.
“The reality is that people use Facebook Marketplace because they want to, not because they have to,” Meta said.
This penalty ranks among the 10 largest antitrust fines ever imposed by the EU and follows a series of actions against Big Tech companies.
The Commission emphasized that Facebook Marketplace’s integration with Facebook gives it a significant advantage over competitors, stating that all Facebook users automatically access and are exposed to the service regardless of their preference.
The Commission also accused Meta of imposing unfair conditions on competitors in the classified ads sector. It alleged Meta leveraged ad-related data from other advertisers for the exclusive benefit of Facebook Marketplace, a claim Meta denies.
Meta said it has “built systems and controls” to prevent such practices, calling the Commission’s actions against its free service “disappointing.”
The fine of €797.72 million reflects what the Commission described as the “duration and gravity” of the violations. Meta’s revenue last year was approximately $135 billion.
This decision is part of the EU’s broader regulatory push against Big Tech, backed by new legislation like the Digital Services Act and Digital Markets Act.
Earlier this year, the EU accused Meta of breaching digital rules with a “pay or consent” system requiring users to either pay to avoid data collection or agree to share their data.
In response to regulatory pressure, Meta recently introduced less targeted ads for free users in the EU and lowered subscription rates for ad-free services.
Telecom
Karl Toriola Champions MTN’s Digital Transformation @TeXcellence 2024
MTN Nigeria CEO, Karl Toriola, at the TeXcellence 2024 conference, emphasized the telecommunications sector’s crucial role in advancing Nigeria’s digital economy.
Highlighting the evolution from a traditional telecom company to a full-fledged technology powerhouse, Toriola outlined MTN’s journey and the broader industry’s transformative potential.
Reflecting on MTN’s significant footprint, Toriola highlighted how telecoms have been the backbone of the nation’s digital transformation. “The telecommunication sector has been a critical driver of economic growth in this country, accounting for 14% of the nation’s GDP.
“MTN on its own contributes 7% to Nigeria’s GDP and its evolution into a Techco could propel the nation to unprecedented economic heights”.
From the groundbreaking days of GSM licensing in 2001 to the launch of 5G in 2022, MTN has consistently been at the forefront of technological advancement.
Toriola underscored the shift in revenue dynamics, with data now surpassing voice services as the primary income source despite slimmer margins.
He acknowledged the challenges posed by increased competition and external factors, including economic pressures and currency devaluation.
Yet, he stressed that these hurdles are driving the need for innovation in areas like financial inclusion, IoT, AI, and the development of digital ecosystems.
The MTN CEO shared insights into the company’s ambitious projects, such as constructing the largest data center in West Africa and expanding 5G services to deliver high-speed, low-latency connectivity.
He also emphasized the importance of affordability in expanding digital access, pointing out that 71% of Nigerians face challenges maintaining regular internet connectivity due to cost.
Wrapping up, Toriola called for collaboration among industry stakeholders, international partners, and the government to harness Nigeria’s potential and nurture a culture of curiosity and innovation.
“Our biggest asset is our people—their drive and ingenuity. By fostering this and investing in our digital infrastructure, we can achieve the vision of a trillion-dollar economy,” he concluded.
Karl Toriola’s keynote address at TeXcellence 2024 revealed that with determined leadership and unified efforts, Nigeria’s telecom and tech sectors are poised to lead the continent in digital transformation.
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