3 Tips to accepting payments online
Consumers have turned to purchasing their necessities online as it is more convenient to do so as well as usually cheaper too. With many companies offering free shipping on purchases as well as coupons for rewarding loyalty, consumers are choosing to purchase items from the comfort of their own home as opposed to going shopping at the mall or other retail stores. If you are building an online business, you are certainly going to want to be able to accept online payments. This article will identify some tips to accepting online payments so that you have all the information that you need to get started.
- MyPaymentSavvy. A new, innovative way to accept payments, this online option is gaining popularity among business owners in a swift way. The ability to accept credit card payments or ACH payments has made this platform versatile for anyone. Offering chargeback prevention and other security measures, this payment supplier is well worth checking out. One of the greatest aspects of this payment service is that there is no fee charged to the biller. If you are invoicing a client, the client can choose to pay online but will have to pay a small, standard fee. Service fees can be as low as $2.99 per transaction which is added to the payee’s bill. You collect all funds that you invoice for. Save time and money and work with My Payment Savvy today!
- Paypal. While Paypal tends to be the largest supplier of online payments, there are many cons to using their services. They charge an exorbitant amount of fees for both the seller and person accepting payments. If you are accepting small payments, this may not be an issue for you but if you plan to accept payments of higher numbers, you will want to select another service that has a lower fee. Service fees could greatly cut into your profits.
- Square. Paypal’s biggest competitor, Square has been making progress at becoming a popular payment processor. Square is great because it offers you an online storefront for free. Within this storefront, you can sell items and embed them into your website for a seamless look. Square also provides the opportunity for you to send your client’s invoices or send payments as well. For even more convenience, Square offers the ability to accept payments via your smartphone and have it deposited directly into your account every evening. There is a small fee of 2.75% per transaction but this is must cheaper than using the rival, Paypal.
Regardless of what type of business you own, you will be able to collect payments in a more convenient manner than ever before. You will be able to access potential customers from all over the world by accepting payments online. There are many payment options to choose from and many can save you money which makes your profit margins larger. Be careful when choosing the company that will be processing your online payments and check with other business owners to get their thoughts and feedback before you contract with a company.