To help business owners receive income in a faster and more efficient way there are several payment methods ranging from creating digital receipts to accepting multiple forms of payment.
Most businesses receive payments online, so the methods you choose should build consumers’ trust when making their payments online so they don’t fear being scammed.
Several platforms help streamline the payment system and the most popular to consider having them on your site or website are PayPal, Amazon Payment, Google Pay, and Apple Pay. It is important to know what the terms and conditions of each one are to make the right decision, especially when it comes to commissions that can become high.
But there are also other options to receive payments faster such as requesting payment deposits, sending invoices immediately, and encouraging consumers with discounts when subscribing to your newsletter.
Let’s see below 8 options that will help you receive payments quickly to your business.
1. Credit or debit card one of the traditional payment methods
Payment by credit card is the most popular of all. With this method, customers enter their card details, which can pose a risk to the consumer if you do not have reliable security and data protection system on your page.
To offer this payment method, you must have an online business account. This account can be obtained through the bank to which your other accounts are linked. You will probably need to get multiple accounts at different banks as many only operate with a few credit cards.
2. PayPal how to charge through this platform?
It is considered one of the safest methods to make online transactions, in addition to being very simple because you only need to have an email account and enter your bank details; this data is never accessible to stores or platforms, hence the peace of mind it generates for those who use it as a platform to make or receive payments.
PayPal has a large number of users so this is one of the options that yes or yes you must offer. The drawback of this platform is that the commissions are usually very high.
Want to know how to integrate a payment method into your site? Follow this link.
3. Amazon Pay
This is another of the most popular platforms and also has a very wide customer base because almost all of us have an account on Amazon. Through this method, the purchase barriers among millions of people are reduced in addition to offering them security when making a payment. It works on all mobile devices, allowing you to buy from anywhere at any time.
To configure Amazon Pay on your website, you configure the Express Integration button or use its API that although it can be more laborious allows you to customize the experiences within your page. As with PayPal, the commissions are high, around 3% per purchase.
4. Google Pay
Google has also developed a payment system, but it has not reached the popularity they have expected. Its greatest quality is that it works on smartphones and some companies such as Airbnb and StubHub (a company that sells tickets to sporting events and shows) have joined this payment method. To give an example of the advantages of offering online payment methods, StubHub when joining Google Pay increased its profits by 60%.
Google Pay is easy to add to the payments section of your website; you just need to enter its API.
5. Apple Pay
For those who are loyal to Apple devices, this method works as a virtual wallet that offers the option to make one-click payments from your phone. It is a very secure option because it uses token identification that keeps your card information protected, keeping it hidden from hackers. From your website, you can configure to accept payments through Apple Pay. This paid banner is free for both customers and businesses.
6. Pay cash on delivery as an alternative to a payment method
In this method, the customer will pay when they receive your products. For those who buy, it is safer because they did not have to enter bank details and make sure to receive the product they bought, although it may generate an additional charge. For the seller, it can be a vulnerable system, because if the buyer decides to return the product without having paid for it, you have already invested in the shipping costs, which translates into a loss of income.
7. Payments by bank transfers
One of the easy, comfortable, and safe methods. Through this exchange, customers will once again not have to worry about sharing their banking information, which makes the shopping experience more enjoyable. As a seller, you won’t have to pay fees for receiving transactions in your account. Depending on the bank through which you receive the money, you can wait 48 hours before seeing it reflected in your account.
8. Discounts through subscriptions
We already talked about platforms that offer payment facilities for both the seller and the customer, but there are other techniques that can help you receive payments faster as through incentives. Offering discounts to your customers through the subscriptions you have on your site will motivate your audience to stay on top of the news you offer.
BONUS: Digital invoices
This is another option to receive payments quickly, in fact, almost all companies already work under this scheme, since you do not have to scan documents and transactions are almost immediate. By having a digital invoicing platform, invoices will arrive much faster and you will speed up the collection of them.
For more information about digital invoicing, we invite you to visit this link.
Every day there are more people who join to make their purchases through digital platforms, so by having an online store, you must make sure to give the greatest confidence to your consumers to pay and find the platform that allows you to receive your payments quickly. The payment terms, commissions, etc., must be well clarified to avoid confusion or fraud.
Does your Page have any of these methods to receive payments faster? Which one do you use? We invite you to tell us by leaving a comment.
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