How to Accept Online Payments for Your Business

Do you prefer the ease of buying products or services online? You’re not alone. According to the Pew Research Center, more than 50% of American consumer respondents reported an increase in purchasing and paying for items online.

As a business owner, this statistic should be a powerful encouragement to accept online payments. But, with so many online payment portals to choose from, how can you set up the most reliable and intuitive methods for your business?

You’ll need to know your consumer preferences and choose the tool that is within your budget and you find easiest to use. This ensures that your payment operations will be organized and that your customers can purchase online without issue.

Not sure where to begin researching online payment options? Read on to learn the top online payment options your business can implore today.  

Use a Payment Gateway 

Payment gateways are popular third-party companies or sites that process customer payments. Payment gateways work by processing customer credit cards or debit cards both offline with a Point of Sale Processing system, or through online stores. Check out this article to discover some of the most popular payment gateways and business benefits. 

Accept Credit Cards and Debit Cards Directly  

If you want to avoid third-party sites and memberships, you can set up your direct e-commerce payments on your site. First, make sure your e-commerce platform has the functionality to accept card payments. Then, add in the payment feature or request a developer to build this into your site. 

Create an Online Store 

For business owners who sell products and merchandise, an online store is an intuitive way to collect payment. Depending on your budget and website building abilities, you may need to overhaul your site. Or, you may need to work with a website developer to create a new site that can list products and create a secure payment portal. 

Invoice Through Email 

Email invoicing is one of the easiest e-commerce tools because clients receive a receipt instantly. Email invoicing is a great option for service-based businesses that may bill clients at recurring times such as biweekly or monthly.

Invoices can be generated through an online form. The client fills in the form with their information and payment details. Then, payment is sent to your business and the client ends the transaction with an email receipt sent to their inbox.  

Set Up a Mobile Payment App 

Mobile payments are on the rise. As a result of the COVID-19 pandemic, many American users find paying with a mobile app safer because of the contactless benefit.

As a business, you can capitalize on this preference by setting up your own mobile payment app. A mobile app allows you to control the flow of payments, store customer data, and bill when needed. 

These Tips Can Help You Easily Accept Online Payments 

Of all the business tools, learning how to accept online payments is essential to servicing customers today and growing revenue. There is no shortage of online payment portals and options to choose from. These tips can be your guide to choose the best portal or payment collection plan to match your needs and customer preferences.

In the end, accepting payments online can encourage customers to do business with you more easily and more frequently. Did you find this information interesting? Then, check out our other business stories.