8 clever ways to accept payments online for your small business
Why Accept Payments Online?
Starting a business requires a lot of positive thinking and effort. If you are looking for a scope that will enable you to develop your start-up, you should make your business stand out by implementing modern day technologies. And one way is to set up a system to accept payments online safely and easily.
In the advent of e-commerce in the market, the competition among business firms has risen drastically. As a result, e-commerce firms are developing new ways to maintain a strong hold on their customers.
The most important factor in your business’s longevity is the satisfaction of your customers and the amount of trust they place in you and your website’s payment methods.
One sure fire way to gain maximum customer hold is to make your payment options flexible and easy. Here are some of the most innovative ways to accept payments online when setting up your business:
1. Debit and Credit cards
Offering payment options through credit and debit cards is the easiest and most reliable ways to land customers who are in the habit of making payments over the internet.
Customers are more likely to use this conventional method of payment, and that will be more beneficial in making your business gain a broader dimension.
Moreover, if you keep the options of debit or credit card payment in your business, the scope for PCI compliance can be kept in check.
Almost every common man or woman residing on this planet has a credit or a debit card. This payment option, therefore, makes it easy for them to buy things from your shop.
High risk credit card processing can sometimes be countered, but this has to be handled very tactfully.
PayPal is another secured option which you can adopt for your customers who wish to pay online. And when you are choosing PayPal, you do not have to apply for PCI compliance as this organisation is already registered with the system.
PayPal is one of the most secured ways to accept payments online and your customers do not have to get anxious about checkout processes.
If you wish to make your payment procedures more secure and hassle free, you can adopt PayPal Payments Pro. Switching to this requires extra fees. But, at the same time, your customers will feel satisfied and comfortable buying things from you in future.
Goldmoney, formerly known as BitGold, is a digital start-up that is aiming to bring the next revolution to PayPal.
This company has successfully collected a total funding of $30 million from investors. They have initiated their gold payment system by integrating prepaid cards that are widely accepted by over 35 million merchants across the globe.
Goldmoney has created a global payment network of Gold OS merchants that can genuinely help businesses strive in the e-commerce platform. Using this method to accept payments online for your E-commerce website may well be the best choice for your small business.
Stripe is one of the most convenient ways to accept payments online for start-up e-commerce firms, as if provides better flexibility in billing and receiving payments.
It is perfect for the more established businesses as well who have developed a certain level of trust and credibility with their buyers.
This payment gateway takes you to a separate page rather than completing the payment on your merchant website. It can handle all your company’s needs, such as storing credit card details for a quick payment process, and so on.
Stripe gives you complete freedom with the various common methods of digital payments, such as debit and credit cards, and PayPal as well.
Their process is compatible with mobile devices and also for web applications. Their charge per transaction is fair and kept low. You are charged 2.9% + $0.30 each time you accept payments online through credit and debit cards.
2Checkout is another well-known global system that allows you to accept payments online using debit cards, PayPal or credit cards.
To avail of their services, you need to open an account online and integrate it with your website. 2Checkout reflects your brand professionally by adapting to local currencies, languages and payment methods.
What’s more is that it’s fairly easily to get approved to accept payments online. Once your account gets sanctioned, you can then choose between 2Checkout’s carts for plug and play integration on your site.
Once you have 2Checkout integrated with your payment process and the customers have started using this as their preferred payment mode, you will be charged 2.9% and $0.30 for every successful payment.
Another benefit is that once a payment is initiated, your customer is sent directly to a secure payment page of 2Checkout.
According to some of the most authentic e-commerce sites, Braintree is one of the easiest ways to handle monetary transaction over the internet. It uses robust technology that enables you to get sales from your mobile app or any online web applications.
The main reason for the excitement among e-commerce entrepreneurs about Braintree is that you can make provisions for payment through any medium, such as credit or debit cards, Bitcoin, PayPal, Venmo, Android Pay and much more.
Since 1996, Authorize.net has been one of the most popular and easy ways to accept payments online when conducting e-commerce business.
They make the payment process fast, and you can also use their “Simple Checkout” feature. The system code is very easy to install and it provides a very simple checkout procedure.
This payment solution is highly customizable and thus it is creating a huge buzz among forward-thinking app developers. This is especially true since these app developers are getting their first $50,000 in transactions completely free!
8. Google Wallet
Google Wallet enables you to let your customers pay with just one click. They offer a “buy with Google” option that your customers can use to make payments without having to take their credit or debit card out of their wallet.
This allows your customers to pay without filling out the usual long forms. And for merchants; Google Wallet brings in more sales because of their hassle free and trusted payment gateway.
Users of this app can sign in to your website through Google Store and then leave with just a few taps after they make whatever purchase they want to.
Last, but not least, this handy application also has an email service integration that lets you send, as well as receive, money through emails.
If you incorporate any of the eight payment gateways mentioned above in your e-commerce websites, you will be well on your way to increased sales.
For certain, you will be able to build your brand by providing multiple, secure, hassle-free ways to accept payments online from your customers.
This will not only help you grow your e-commerce business, but also it will enhance the trust factor among your customers.
About the Author
Kate Ashton writes for SharkProcessing.com. Shark Processing is a fantastic online resource for merchants and business owners. It provides unbiased, genuine reviews of high risk merchant accounts to help aspiring entrepreneurs choose the best payment solution to suit their needs. You can link up with Shark Processing via Facebook or Twitter.
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