Making payments easier and hassle-free for customers is one of the most vital tasks for business owners. Secured transactions are one of the essential requirements for any business, and for that, you should think about all possible payment options that can make the process smoother.
In this article, we will talk about payment options that are ideal for a new and growing business.
- Credit Cards
Studies reveal that 75 percent of customers prefer paying through debit or credit cards, whether it is an online or offline purchase. However, assure that you have a secured process. Go for a PCI-certified company to handle all the credit card processing, transaction history, etc. It will also help to prevent any unwanted breaches.
- Affordable ACH or eCheck
Some businesses require more costly and frequent payments. In these cases, direct withdrawal is the best option which is best done through ACH or eCheck. Here, payment is processed electronically and directly from the customer’s bank. You might want to know how to set up ach payments since this does not involve any physical paper check. The information for ACH cannot expire, and the transactions can be conducted through debit and credit cards.
- Mobile Payment Options
Mobile payment options have become very crucial, especially for small businesses. By using a small mobile card reader, you will be able to swipe your customer’s debit/credit card and instantly collect the payment. The device can also store important information so that future payments by the same customers can be done very easily.
- Easy email invoicing
Email invoicing is yet another efficient payment option for small businesses. The click-to-pay invoices are convenient. It gives your customer the ability to see how much they owe and enter their payment option instantly. It will also help you to get all the finance-related data in one place and make accounting tasks more convenient.
- Online Storefront
It enables you to sell one-time and recurring products/services. You will be able to generate business round-the-clock. It will make the whole process seamless, both for you and your customers.
- Online payment gateway
If you are into a service-based business that comes with fixed rates, the online payment gateway feature will make it very easy to sell your services in an online environment. The process for this is quite easy. Clients would visit your website, select the products and services, and then use simple forms for online payment. They can also save their information for future purchases. It offers complete flexibility in the payment process to the clients, which can positively influence your business revenue.
- Recurring payments
Everyone has a busy schedule these days, so setting up a recurring payment option can be very effective. It allows for ACH or card payments at a regular interval. It is one of the most crucial payment options for small businesses. Your customer would have to choose the payment plan and frequency, and the payments will be deducted automatically without any additional interference. It is a great option for the convenience of your customers, and you will not have to chase them for the payments anymore.
- Payment Plans
Think about customers from all types of financial backgrounds. Some people might want to take up payment plans in case of costly services, as it would be affordable and convenient. Small businesses can set up automated plans for this one if they do not want to bear the hassles of following up or chasing down their clients for payments. Several payment tools will send invoice reminders to clients on specified dates.
- Integrated payment option
If you have a mobile app for your small business, you can offer a complete experience to your users. You can integrate different payment options in your application for your and your client’s convenience. This will give your customers a secured and streamlined experience. It would add value to the customer experience and will have a positive impact on your revenue.
If you are a small business, you should consider using these payment options for efficient operations. Include as many as you can so that your clients have the choice of picking up one as per their preferences.