In the United Kingdom, The Financial Services Authority (FSA) was formerly the regulating authority for most aspects of the EU's Payment Services Directive (PSD), until its replacement in 2013 by the Prudential Regulation Authority and the Financial Conduct Authority. The UK implemented the PSD through the Payment Services Regulations 2009 (PSRs), which came into effect on 1 November 2009. The PSR affects firms providing payment services and their customers. These firms include banks, non-bank credit card issuers and non-bank merchant acquirers, e-money issuers, etc. The PSRs created a new class of regulated firms known as payment institutions (PIs), who are subject to prudential requirements. Article 87 of the PSD requires the European Commission to report on the implementation and impact of the PSD by 1 November 2012.
Websites such as Squarespace and WordPress offer mobile-friendly, ready-to-go e-commerce templates that help you get a store up and running quickly. As a shop owner, you will need a way to collect credit card payments from consumers online. PayPal, Square and Google Wallet are all popular ways of accepting and managing online payments. You can also sell your merchandise through online giants like Amazon.
One of the biggest drivers of e-commerce has been the interfacing of websites with bank accounts—and by extension, credit cards. Today it is possible to perform the entire gamut of banking operations without visiting a physical bank branch. This makes it easy to pay for products online, allowing for secure electronic payments via credit cards, debit cards, or gift cards, which is far more efficient than writing and mailing checks.
To set up your products, click the “products” text link in the left-side menu. Then click “Add product.” This will take you to a page where you can enter your product title, images, variants (like sizes and colors), shipping weight and other details. You can also set a “Compare At” price, which will show next to the actual price on your site as a crossed out amount, letting customers know that they’re getting an item for less than the suggested retail price.