eCommerce and online merchants now have a way to simplify the way in which customers buy their products. While accepting only 1 form of payment can make a completely new customer base, additionally, it works the other way round. Refusing only 1 type of payment can result to a substantial plunge in the client base of one’s business. Unlike large businesses that can afford to reduce some customers because they are stable anyway, small businesses are dependent on each and each one of them. So, in the most effective interest of businesses, they ought to try to simply accept all possible kinds of payment. Before discussing the different kinds of payments and the advantages they offer, have a look at some advantages that online payment methods have to offer:
The major advantage offered by online payment solutions to eCommerce/online merchants is convenience. When consumers find what they want 소액결제현금화, they might purchase it by making a few clicks. Businesses may also be paid instantly for the merchandise which were sold on their site. This is a win-win solution for both parties.
Subscriptions can be purchased in different forms, and offer convenience to both parties. Subscriptions are easy to set up and maintain because of online payment. It can be more straightforward to cancel subscriptions. This aspect could be managed without hiring anyone, and that’s why is it convenient for both businesses and consumers.
Methods of Accepting Online Payments
There are several different ways of accepting online payments, but typically the most popular method is via credit cards. Yet, some online buyers still go for other methods offered. Knowing various methods, along with their pros and cons, is a step needed to produce a business.
When people speak about options to online processing of charge card payment, PayPal always occurs the top of list. It is one of the payment services which were used far and wide. PayPal is convenient for eCommerce/online marketers, and it’s easy to use for consumers. Setup is straightforward, and transactions are managed directly through PayPal. It is safe to utilize since consumers don’t give information to merchants with the exception of a mailing address when needed.
Costs: PayPal charges $0.30 + 2% of total transactions. This is automatically subtracted from the payment.
Google Checkout was created by Google in a reaction to PayPal. This lets users buy goods via their Google account. Its major benefit is, since a lot of people use Google for a few services, the fact the same account can also be used to buy products.
Costs: Google Checkout, like PayPal, charges per transaction. So, each transaction costs $0.30 + 2.9%. This figure may be reduced with a higher sales volume per month.
Certainly, Internet mogul Amazon must offer its payment solution for eCommerce/online merchants. It is good alternative, though never as famous as Google and PayPal.
Costs: Compared to other venues, Amazon has different charges on the basis of the size of the product. When it is below $10, it costs $0.05 + 5% and if it’s more, it costs $0.30 + 2.9%.
Bill Me Later
Among the credit solutions for merchants is Bill Me Later. This is best for those selling pricey products. However, the facility to produce payments may entice some customers to purchase something more expensive.
There are many solutions for accepting credit cars besides these options. Businesses selling products through their website are needed to simply accept credit cards.