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Managing an online business has many functions, however accepting payments from customers is fundamental to the core operation of any business and thus cash flow. This is why online businesses need to understand the different payment options available and what are the best payment options that you should be providing your customers based on your type of customer interaction. There are obviously many options in which online payments can be accepted. Whether you have the existing business platform or you’re looking to start a new business, on boarding a reputable payment solutions company is essential and should be a priority. You are required to have options which are most appealing to every customer, whether that’s using reliable direct debit software, solutions to accept credit card payments or require a virtual terminal, it’s important that you make an informed decision.
So which payment options should your online business offer your customers?
Stripe
This is the top payment option on the online business today because of its versatility. It is the best choice for online shops, on-demand marketplaces, or subscription services. To those people who love to operate a business with many functions and processes, this is certainly something that you’re supposed to consider. Also, Stripe can set up recurring payments from the customers. It is known for supporting payments online and even in-person.
PayPal
This is the payment option which the online business is supposed to have. The company has the best reputation when it comes to reliability, security, and ease of use. This is the reason you need to consider using PayPal for your online payment option to your customers. There are many users who are using PayPal, and they’re continuing to grow because of the reliability of this option. To those who do not have a well-established brand name, the PayPal button will make your customers be at ease. They know that PayPal has their back for security.
Apple Pay
Apple Pay is a digital wallet for the iOS users. Once it is set it up in the devices, people can pay for an item with only one click. This becomes the good news for the online business people. You don’t have to worry about people turned off because of filling out a long-form field with their credit card numbers together with billing addresses. All this information is securely stored in the Apple Pay. For the users who want to shop on the mobile app or mobile site, they can complete the payment by using the facial recognition or fingerprint. It does not get easier than that.
Square
This is commonly related to POS systems for the in-person payment, but also, it has online business options. This is the best choice to those who have the physical wholesale locations and have a plan of starting to sell online, particularly if you have the Square POS system. Square has priced competitive when compared to other options of payments. No monthly fee is required for the Square payment option to the website.
Masterpass
It is a way of targeting customers who’re Mastercard holders. It is a secure and fast way to those people who want to pay through the mobile app or also known as a digital wallet. They don’t need to type their card number and billing information every single time given that they have Masterpass added to their devices. This is very easy to incorporate Masterpass with the online business to offer this convenient payment options for your customers.
About the Author
Pay Advantage is Australia’s leading direct debit for business provider, offering a number of convenient and flexible payment options to small and large organisations. Whether you’re looking for a reliable direct debit company, custom virtual terminal, upgrade your billing with BPAY or ability to accept credit card payments, they can provide it all backed by their PCI compliant technology and award-winning service.