6 Reasons Why Now is the Time To Setup Your Online Payment Portal
Why Now is the Time To Setup Your Online Payment Portal
In today’s world of chaos and danger, business owners and consumers are locked up in their respective homes due to the COVID19 quarantine. With people not allowed to go out means no sales, no profits. With the uncertainty on when this ends, this can lead to great losses and potential business closure.
If you want to keep your business afloat, then now is the best time to set up your online payment portal. Whether you decide to work with high risk merchant account providers or working on your in-house solution, both can boost sales and improve your customer experience.
Why You Should Set Up An Online Payment Today?
Every day more and more business transactions are done online. Online credit card payments allow your customers to buy products or avail of your services with much ease and convenience.
In just a few clicks, a sale is confirmed which both benefits your business and your customers.
#1
Increase in Sales
Setting up an online payment portal can boost your sales. Consumers these days tend to spend more when using a credit card. Also, it is more convenient compared to cash purchases to avoid theft, especially for expensive items.
More so, since almost everybody is required to stay at home due to the corona pandemic, online purchases allows more flexibility. Customers will only have to wait for the delivery without taking the risk of going out.
#2
Better Customer Experience
Online purchases are a lot convenient these days. Everyone prefers to shop in the comfort of their home. In just a few clicks away, sales are confirmed. Straight forward online payment attracts new customers at the same time builds good relationships with existing customers.
#3
Increases Cash Flow
Credit card payments are cleared and added to your bank account in the next 24 to 48 hours from the transaction day. The higher the volume of transactions, the more cash flow.
#4
Saves More Time
It saves you time from going to and from the bank to make check deposits. Unlike checks which take 5 to 10 working days to clear through your bank, credit card payments are credited to your bank account a day or two from the transaction date.
#5
Security
Online credit card payments feature added security to your business against theft. Electronic payments mean less cash on hand, so this reduces the risk of theft.
#6
Provides useful data
Electronic payments through credit cards keep records that are useful especially when you are to file your taxes.
If you want to expand your business presence, you have to set up an online payment portal. In today’s modern world, online payment is an integral part of the business – small business and those starting up, established and big businesses.
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When you have decided to set up an online payment portal, do not forget to do your research and choose a reputable merchant service provider. Lastly, make sure your online payment form is customer friendly, secure, and convenient.
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