Implement Receiving Payments Online

Why You Need to Implement Receiving Payments Online

Web-based businesses that accept online payments for the products or services they sell through their site have an edge over competition. Fortunately, the new security features, fraud protection and encryption allow consumers to make online payments with confidence. As a matter of fact, the majority of people believe that paying online is a lot safer than paying a check through the slow, regular mail.

Reduces Risk

The facility to pay online allows a customer that has an email, to pay at once for a service. When a payment is made on the Internet, it is approved, then the money is immediately placed in the business account. Increases Profit

When clients pay by means of checks or money order, they should have sufficient funds to immediately pay for the service. Credit cards let consumers pay for large or expensive items in installments. Therefore, accepting online payments can significantly increase your profit, especially if the services you offer are pricey.

More Secure

Most consumers are concerned about the security of paying products or services online. Encryption reassures customers that their personal and financial information stay confidential. This assures the business that the data has not been altered.

Reduces Costs

Traditional billing can cost around 9.5% of the amount of purchase. Paying online can save both businesses and consumers a considerable amount of cash. They can save on postage, paper, direct costs and late fees. Businesses can also reduce indirect costs like customer service, accounting and administrative costs.

Paying online comes with some costs. Accepting online payments via PayPal has a charge of 2.9% or lower and a small transaction fee. Credit cards acquire processing fees of about 2% of the purchase amount. These fees are considerably lower than traditional billing costs. Adding online invoicing can let a business incur more savings.

Mobile

According to an American global payment company, 26.7% of all online payments were done on a mobile gadget, which is a 5% increase since December 2014. Conclusion

If your ONLINE BUSINESS offers services without an online payment system, it is about time to consider it.

To boost efficiency, choose a solution that provides both online payments and online invoicing. Using electronic invoicing makes it more convenient and quickly expedites the payment process, especially when there is a "pay now" button on the invoice.

Looking for a dependable rent payment service? Come and visit our website today, and learn how you can start to collect rent online.

By Karina Popa - EzineArticles.com

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