Today’s business leaders have plenty to pay attention to, and making sure that your business finds success can be a big challenge. One thing you’ll eventually want to consider is your online presence. While something as simple as a website is enough to start spreading the word about your company, another thing to think about is online payments.
Why Does it Matter?
More people than ever before are shopping online, often doing some research over the internet before finding the business they want to shop with. In fact, 2018 online sales are expected to increase to around $461 billion, and the number is expected to grow by $50 million every single year thereafter.
When you fail to offer the ability to buy your items online, you’re missing a huge part of potential sales. Simply put, when you accept payments online, you’re not only embracing technology and spreading your brand online, but also increase your profit potential significantly.
Even businesses that may not think they’re designed for online sales need to consider their options – restaurants can let customers place orders and pay online, service industries can allow for online scheduling and payment, and those with recurring bills can allow their customers to pay their monthly bills through an online portal.
How To Do It?
Of course, you can’t just immediately start accepting online payments. You’ll need help. Merchant services are the key here, and when you ally with a good payment processing provider, accepting online payments becomes simple.
Your merchant services provider will allow you to accept credit and debit cards in your storefront, but they can also allow you to set up e-commerce accounts and accept payments this way. It’s possible to use electronic invoicing or set up recurring monthly or quarterly payments with a customer, and also possible to create online stores and accept all forms of payment over the internet.
Good providers give you maximum security, keeping all of your information and your customers’ information safe and secure. They’ll also have low fees and make it easy and affordable to go online with your payments.
You will, of course, need to design your website and structure it to accept payments. But once you’re ready, talk to your payment processing team to set up your pay portal and start enjoying this new potential source of sales. It’s one step that businesses today can’t afford to ignore, and one that could increase your bottom line in a big way.