5 Reasons Your Business Should Accept Online Customer Payments

In today’s fast-paced, technology-driven society, an increasing amount of consumers are turning to Internet sites to pay bills and purchase goods and services. So when your business doesn’t accept online payments, you’re missing out on the opportunity to increase your profits and grow your company. If you’re still not convinced, read on to discover the advantages of offering your customers the ability to pay online.

Accepting Online Payments Will Help You:

1. Increase Your Sales

Customer-paymentsHaving a business website that accepts Internet payments allows your customers to purchase products and pay their bills even when your physical storefront is closed. More importantly, consumers typically buy more when they purchase with a credit card, so opening up your website to receive Internet payments will increase your sales and capture impulse buys. This service also enables you to easily set up automatic billing and reoccurring payments, which save you and your customers valuable time.

2. Reach More Customers

Opening up your business to receive Internet payments will increase your online presence and expand your customer base. It will enhance your reputation and help you reach new customers within your community. Depending on your shipping and service abilities, accepting Internet payments also allows you to reach buyers outside of your city, state, and even country.

3. Save Money

Accepting online payments enables you to reduce, and possibly get rid of, paper billing. This helps you to cut costs on office supplies such as receipt tape, envelopes, and postage. If you currently use a separate billing company to handle your invoices, you may be able to save even more money by decreasing or cancelling their services.

4. Enjoy Additional Benefits

When you sign up with credit card merchants and companies that offer online payment services, you will be provided with additional features that can help you grow your business. Most of these companies give you the capability to track your profits, analyze sales trends, and protect you and your customers against fraud. Some Internet payment services even offer professional advice for small business owners for no extra fee.

5. Compete with Larger Businesses

Stay competitive by offering your customers the same convenience of online paying that bigger companies provide.

This amenity could be the deciding factor when buyers are trying to choose between your business and the one down the street. Moreover, consumers tend to view businesses with full service websites as more legitimate, meaning that they’re more likely to trust you with their money.

Receipts Ready to get started? Research online merchant services and find the company that best meets the needs of your business. Begin your search with your current financial institution and ask if they can give you a discounted rate since you’re already a loyal customer. Check to see if your current credit card provider offers Internet payment services, and ask other business owners in your area for recommendations.

Look into popular companies like PayPal and Intuit as well as smaller, independent businesses, and make sure that you inquire about set-up fees, monthly service fees, and transaction charges.

Although all online payment merchants charge for their services, the benefits of accepting payments on your business website outweigh the costs.

Stephanie Marbukh is a freelance blogger who writes about a wide range of topics including business tips and home improvement advice.

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