Here are three key benefits to having an online payments solution:
Real-time payment processing
Offering an online payment service allows you to receive payments immediately for online sales, service invoices or product promotions. Traditional processes like accepting written paper checks and recording them for accounting purposes before cashing them, for example, could take anywhere from a week to a month to complete and clear. Allowing your clients and customers to pay online in a variety of different ways eliminates the wait time, giving a clear business advantage to you and your business.
Increased Business Reach
Many companies use their websites for marketing reasons since a website has the ability to reach a larger audience than traditional local advertising methods such as billboards, telephone book listings, flyers, and other methods which you are constantly needing to invest time and money in. Selling online allows you to reach a larger customer base around the clock, at their convenience. While some people do still prefer to go into a local venue and see and touch the items and bring them, many others have no easy access to large chain stores and prefer to do their shopping online when they have time.
Local businesses can increase their sales by taking advantage of the greater exposure their websites will receive by integrating an online payments system. Rather than just providing information about your company and the products you sell, you can turn potential customers into actual customers in minutes by providing a convenient online order and payment system, commonly referred to eCommerce, for your products and services.
These days it is unusual to find a website that has products for sale but does not provide an online payments solution.
Consumers are accustomed to buying products and services online using their credit card details to complete the transaction. Online merchants who just accept checks, or who only process credit card details over the telephone, could appear questionable to some consumers, particularly if they are not too familiar with that merchant. In accepting payments online, your business will benefit from the familiar associated with online payments and certainly, increase your overall sales potential as well as your customer base.
While every effort has been taken to ensure the accuracy of this article it is recommended that you seek up-to-date professional advice. For specific advice in relation to online payments services and related payment information, please contact us.