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Your Customers Judge You Not Only On Pure Economics, But Payment Processing, Too

Your Customers Judge You Not Only On Pure Economics, But Payment Processing, TooThere are plenty of factors that go through a prospect’s mind as he or she considers whether or not to do business with you. Some of them are obscure enough that they would be hard for the prospect himself or herself to explain.

However, one of the biggest stumbling blocks in any business relationship, especially online, is the question of how to effectively and safely exchange money in a way that protects the interests of both parties in the transaction.

Price point is important, but it’s not the only factor that a would-be buyer thinks about.

Let’s break down major payment considerations from the perspective of your first-time buyers:

  1. The Price Point Of Your Individual Products Naturally, the price of your products and services is going to be a principal consideration when it comes to whether or not to buy. The rarer and more elaborate or customized your products, the higher your price point can be, as there are fewer direct competitors.
  2. The Perception That The Price Is "Fair" Although everyone has a different definition of what constitutes fairness, there are some things that are nearly universal in buying behavior. Buyers particularly dislike the idea that they are paying "extra" hidden fees, and will balk at processing fees or shipping if it seems too high.
  3. The Belief That Your Payment Process Is Safe One of the issues that unusual and disruptive payment processing technology has to deal with is the fact that people do not want to encounter the unexpected or unusual when it comes to their payments. Social proof is a key part of getting to that crucial first sale.

 

ACH Payment Processing Provides A Clean, Convenient Option With Low Fees

Giving your customers the benefit of using ACH payment processing means that they have all the social proof they need to be certain that the payment process will go as they expect it.

Likewise, this kind of payment processing allows you to deal with transactions of virtually any size and frequency without having to be concerned about passing extra costs onto customers.

That makes the entire process seamless, which is precisely what appeals most to customers. If the payment process does anything unusual, it could raise suspicions and cut off a sale.

ACH itself is a highly trusted system, but don’t forget: In order to have full access to all it offers, you need a trusted payment processor. National Processing has been the choice of thousands of businesses.

Posted in ACH Processing on Feb 10, 2015