The total transaction value in the digital payments section is expected to reach $8.49tn in 2022. If you’re skeptical about online payments for your business, consider adopting them because they’re convenient, easy to set up, and reliable. They offer companies a competitive edge, influence impulse buying, and enhance referral marketing using online payment vouchers. Online payments, such as wire transfers, are faster than traditional payment methods.
With online payments, you don’t have to go through the trouble of recording manual transactions or depositing checks. This results in improved cash flows and ensures close to real-time transaction confirmation. This article outlines the five best online payment options for businesses.
Stripe is an excellent online payment method for small and large businesses alike. It lets brick-and-mortar and online companies accept payments online while using its Radar protection to prevent fraud. Stripe allows you to accept payments without errors or delays and doesn’t charge hidden fees from businesses or their customers.
A stripe payment system offers customers a seamless experience and informative user interface with charts and graphs. It works with banks, currencies, wallets, and credit cards. It’s also SSL-protected, meaning your business and customer financial data is duly safeguarded and securely transferred.
PayPal is an internationally recognized payment system that accepts various payment types and supports global currencies. It’s a quick, affordable, and painless online payment option businesses can trust. PayPal business accounts make it easy and fast for companies to get started, accept and process debit and credit card payments. The checkout and purchasing process is simple for your customers.
They don’t need to own a PayPal account and may decide to pay using debit cards, credit cards, PayPal, PayPal Credit, or Venmo, in person or online. The debit and credit card business accounts accept Visa, American Express, MasterCard, Discover, Diner’s Club, and JCB.
- Apple Pay
Apple Pay, a contactless payment solution, processes payments quicker than usual credit cards while enabling your customers to check out efficiently in no time. This reduces the line wait time and lets you serve more customers. The quicker the line moves, the more customers will be inclined to wait and make purchases.
Using Apple Pay as your online payment method gives you a competitive edge over the competitors who don’t offer it and helps you stay in competition with those offering it. Since the customer’s card doesn’t physically touch the terminal, they don’t have to worry about their data getting stolen. It’s securely kept in their wallets.
Square is an online payment alternative that lets you give appointments, sell digital or physical products, and operate a restaurant that accepts online orders. With Square payments, you can easily accept various payment types from customers. You can apply Square payments via a computer, app, website, or Square reader. They meet compliance and data security standards to keep your business and customer data secure during all transactions.
Shopify is a one-stop payment gateway that’s fast and compliant with PCI standards, with secure 3D checkouts. As your store’s default payment gateway, Shopify prevents the need for a third-party payment service. It sets your store up to accept payments via popular online payments, including debit and credit cards, Apple Pay, gift cards, Amazon Pay, and cryptocurrency.
Online payments are vital for your business’s bottom line. Consider these online payment options for your business