If you have a business with a website and you don’t have a way for customers to pay for your goods or services online, you are leaving some of that hard earned cash on the table for others to pick up. Don’t think that not having online payment options for your customers is costing you money? We spoke with several small business experts about the value of having the right online payment solution for any kind of web based or traditional business. Here is what they had to say about why any kind of business, big or small, traditional brick and mortar or strictly online should be taking a long hard look at having online payment for goods and services available on their website.
Give the Customers What They Want
We know that by and large more and more of any customer base is going to want the convenience of paying for what they order online through an online payment system. With PayPal alone claiming 100 million customers, it is obvious that paying online for what you order is the way to go for any kind of business. If you think that only small payments can be done this way, think again.
Ebay has been selling cars and trucks through their online service for decades now, and even homes have been paid through online payment portals along with every type of financial transaction you can name. If your customers want this kind of convenience and you don’t offer it, even the most loyal customers may look elsewhere.
Online Payment Services Save You Money
You may be considering using an off site option such as PayPal or setting up a merchant account for your site that will work much like the reader for a credit card does in your store. While these are fine as interim solutions for small start-ups or businesses that seldom have electronic transactions, these can cost you in the long run.
Merchant service portals for credit card and debit card payments charge you for each individual transaction, no matter what the size. These fees can add up over time and eat into your profit. While there are always fees associated with the setup of a new online payment service account, they are one time fees that pay off in the long run. Why keep paying those percentage of sales fees to a merchant account when you can make one payment and be done with it?
This is really the true reason just about any small business with a portion of it’s income on the web will in the end add some type of payment portal to their site. When the web began, having a site that served as a catalog for your goods and services was a perfectly fine way to use your website. It showed off what you could do or what you had to offer. But today any customer that wanders onto your website is expecting to be able to pay for what they see right there and then. What is more, they want to have good customer service help them out if they should have any kind of a problem with that payment.
When you add an online payment system that goes beyond simple merchant accounts, you can be assured your customers are buying as soon as they see something they want. In addition, you can also be assured that they have a good purchasing experience; one that brings them back time and time again. That good experience is a win-win for everyone and one of the biggest reasons buying on the web has become so prevalent. Maybe it is time you joined in too.