Payza Wins Best Online Payment Method at the MPE 2017 Awards

2017 has only just begun and it’s already an exciting year for Payza. Wednesday night at the Merchant Payments Ecosystem Conference in Berlin, Payza was announced as the winner of the MPE 2017 Online Payment Method Award.

“2016 was a banner year for Payza,” said Firoz Patel, global executive vice president of Payza, who accepted the award on the company’s behalf. “The United Kingdom, for instance, saw over 150% year-over-year growth in terms of new merchant accounts. Overall, Payza saw 50% YOY growth in business signups and 225% growth in merchant payment volume. To be recognized as the best online payment method from among Europe’s leading providers is a credit to Payza’s continuing effort of providing local payment options to our users in Europe and across the globe.”

The MPE Awards, which celebrate and honor the achievements of companies and personalities across the European merchant payments ecosystem, selected Payza as the Online Payment Method Award winner based on its built-in fraud protection and state-of-the-art unique account security features, such as tokenized dynamic payment buttons, custom avatars and greeting messages, and Password and PIN protection; its flexible payment options, such as recurring subscription and split payments for marketplaces; and its hassle free integration that provides European merchants the choice to set their payment preferences based on the countries to which they are selling.

In addition to winning the Online Payment Method Award, Payza was also shortlisted for the Data Information Award, which recognizes achievements in using big data to improve the customer experience, decrease fraud, and increase profitability.

“Winning this award wouldn’t have been possible without the combined contributions of each and every Payza employee,” continued Patel. “From our amazing customer support staff, and our dedicated IT team and software engineers, to our merchant account managers, and our banking, fraud prevention, and account security teams, this achievement was the culmination of a full company effort.”

Payza’s staff has been growing rapidly to keep up with the increasing demand for the company’s services. That demand is a testament to the company’s focus on providing specialized local payment solutions for unique markets while offering an online platform where consumers and businesses in both developed and developing economies can participate.

With new offerings targeted at some of the fastest growing e-commerce markets in the world, including India, Brazil, and Bangladesh, Payza is poised for yet another breakout year.

Disappearing Banknotes in India: Understanding the Terms Surrounding Digital Payments

Don’t know what are UPI, NPCI, IMPS, NEFT, or RTGS? Don’t worry, we can help!

The people of India are still adapting to the sudden demonetization of the 500 and 1000 rupee banknotes. Emerging from what experts have described as a “debacle” and utter “fiasco” in monetary policy, many Indians are frustrated by media reports that offer confusing information about India’s financial system.
To help bring some clarity to the situation, we wanted to go over some of the unclear terms in finance and digital payments that are common in media reports about demonetization.

What is UPI?

Unified Payments Interface (UPI) is a digital payment system network. Using an app on a smartphone, the UPI enables citizens to transfer money between bank accounts of 19 major Indian banks. In addition to simplifying and increasing access to many basic banking services, the UPI app lets a customer to transfer funds to the bank account of a merchant to make payments without the need to share private financial information.

The National Payments Corporation of India along with The Reserve Bank of India developed the app to encourage Indians to replace cash transactions with digital payments.

For more information, see this article about UPI and the related app in The Hindu: What is Unified Payment Interface?

What is IMPS?

Immediate Payment Service (IMPS) is a digital payment system network. IMPS enables the instant, digital transfer of funds between major banks.

Like the UPI, the IMPS platform makes it easy to digitally transfer funds between banks using mobile phones. Using this service, citizens can transfer funds whenever they please, even during off-hours and bank holidays.
The IMPS platform is managed by the National Payments Corporation of India and operates using the National Financial Switch network.

What is NEFT?

National Electronic Funds Transfer (NEFT) is the most extensive banking network in India to transfer funds digitally. This network provides a simple and cost-effective means to transfer funds throughout India and is popular for settling retail remittances. This banking service is available during business hours and closes for bank holidays.

What is NPCI?

National Payments Corporation of India (NPCI) is a non-profit organization that oversees all retail payment systems in India. The organization aims to offer all Indian citizens unrestricted access to digital payment services. Endorsed by the Reserve Bank of India, the NPCI is a leader in advancing India’s “cashless society” initiative.

What is RTGS?

Real-time gross settlement (RTGS) is a money transfer system within a country that enables the transfer of a high volume of funds between banks. Finance companies use this system to transfer money or securities instantly, where the funds are sent individually rather than bundles or batches that are mixed with other securities. The RTGS provides essential financial infrastructure for a country’s Central Bank and monetary system.

Do you know of other banking and finance terms we should add to our list? Would you like for us to explain the details of a digital payment system? Tell us in the comments section below.

Increasing your SEO Score for More Online Visibility

Here we provide a strategy to ensure your customers will find
your online business when conducting internet searches.

Search Engine Optimization (SEO), a fundamental component of website building and digital marketing, has been around long enough that we in the business already look back fondly at the “good old days” of SEO. Once upon a time, getting your website to rank was as simple as cramming enough keywords into a page, a practice that now has the opposite effect. These days, SEO is a complex set of best practices that is constantly being changed and updated, so keeping your website optimized can be a full-time job.

Before we go any further, to understand SEO we need to understand how search engines work. Basically, Google, Bing, etc. send robots all around the internet that “crawl” every website they can find. They pull all the data from these sites and, using a very large set of complex algorithms, attempt to identify which ones have the most valuable information for their users.

For example, when you type “e-commerce” into Google, it attempts to sort the search results in order of what you are most likely to find useful. The problem with this is that robots are not that good at deciding what is and isn’t useful to humans.

The practice of search engine optimization then is to find ways to tell those robots that your website is the one people are looking for. But this comes with a problem as well, which is that even poor or spam websites can still have good SEO, and so Google, etc. have to constantly improve their algorithms in order to filter out the sites that are trying to “trick” them into thinking they’re useful and return only the best possible results for their users.

So as search engines get smarter, SEO practices have to get more sophisticated. Let’s have a look at some of the key elements of SEO and how you can use them to increase your online visibility.

Terms you need to know

Keywords: Keywords are the terms or phrases browsers are searching for. Search engines catalog the keywords you’ve incorporated in your website and use them to rank your site appropriately in their results pages.
In-bound and out-bound links: Search engines consider how many other websites link to yours, as well as which websites you link to, to measure the legitimacy of your site. The quality of the in-bound and out-bound links will also influence your score.
UX: User experience is a broad category of its own which includes ease-of-use, intuitive navigation and quick loading times. Search engines consider how pleasurable it is to use a website when ranking them in their results pages.
Bounces: When someone clicks through to a site only to discover that it is not what they were looking for, they will hit “Back” to return to the results page. This is called a “bounce” and it signals to search engines that your site is not what visitors are looking for, so they will rank it lower in future search results.

Tips to get you on track

Don’t Get Comfortable

If you haven’t updated your SEO practices in the last year they’re at least partly out of date, but there’s another reason why you need to be constantly tweaking and maintaining your website. Search engines rank websites lower if they appear stagnant – if the content of your website is updated infrequently, it may do damage to your SEO score.

Understand Your Audience

The main function of SEO is to leverage keywords. By modifying the structure and content of your website, you can incorporate keywords that are relevant to your products and that your target market is using to search for similar products on the web. However, it’s important to focus on target keywords very specific to your potential audience. Popular search terms are a double-edged sword – avoid common keywords unless they’re definitely favored by your specific audience, otherwise you risk a high bounce rate.

Use Analytics

Analytics can help you keep it fresh. By keeping a watchful eye on your website analytics you can identify which of your SEO campaigns are performing well and how to deploy your resources most effectively. Pay attention to your bounce rates, paid vs. organic traffic, brand vs. non-brand keyword performance, and long-tail vs. short-tail traffic.Search engines also use analytics to identify the legitimacy of a website. If you can increase the average time your visitors spend on your website, search engines will see that as a vote of confidence that your website is indeed useful to their users.

Optimize Your Site

There are a few ways to optimize your site:

Pages more than three levels deep into your website are rarely going to be seen by a human being, so keep all the important information close to the surface. If users have to click more than twice from your homepage to get to the information they’re looking for, most of the time they will go looking for it somewhere else.
Trimming unnecessary pages from your site and eliminating duplicate content can increase your score since both of those are interpreted by search engines as spam.
Search engines consider loading times and broken links when ranking sites, so make sure your site is running smoothly at all times.

Leverage Marketing and Social Media

Good customer service never goes out of style – it’s even more important to the overall success of your business than SEO. In the age of social media, a bad review can spread like wildfire and severely impact your ability to reach new customers. Social media is a boon to SEO practitioners for its utility in link building, user-generated content and reputation management. Signals from social media, including the number of followers, community engagement and content sharing tells search engines that your brand and website are valuable to their users.
More traditional forms of marketing can be effective as well, such as email marketing, maintaining a local physical presence, and getting your business reviewed by popular blogs and news outlets.

We are far from the age of “If you build it they will come”, especially not in the crowded and competitive online retail industry. Search engine optimization is the key to standing out in this market –9 out of 10 consumers use search engines to make purchasing decisions, and SEO is the way to compete for their attention. If you have any further questions about implementing good SEO practices for your website, leave a comment below, and keep visiting the Payza Blog for more tips and tricks to help you get the most out of your e-commerce business.