Now more than ever, online and mobile payment solutions are more than just survival. Whether it’s for your online or offline business, integrating and personalizing diverse digital payment methods will give you the competitive edge. A smooth and seamless checkout experience for your customers is key to sustainable business growth.
The digital payments revolution is in full swing, and it shows the drastic shift toward faster, contactless payments. The rise in contactless payments comes as more businesses accept them and more people embrace them.
- 82% — or more than four in five Americans — are using some form of digital payment.
- Mobile wallets are also expected to surpass the use of both credit and debit cards.
- Mobile payments are growing in popularity with younger customers. 6 in 10 Gen Zers say mobile devices are their most popular method for digital purchases, while about 70% of millennials are motivated to use mobile payments because of discounts and reward offers.
Why Does Your Business Need Online Payments?
Cash-only payment systems will soon be a thing of the past. Online and mobile payments are here to stay — if you can leverage them to meet (or even exceed) customer expectations, then you’re well on your way to success. Learn more about why making the switch to digital payments can benefit your business in more ways than one.
- Boost Sales
People who use mobile payments spend about twice as much through all digital channels than those who are not using them? These digital payment methods can help you generate more profits by empowering you to reach a broader audience.
Plus, you can also incorporate digital payment channels into your digital marketing strategies to increase your revenue. Get valuable analytics and insights into what your customers are most interested in from your business.
- Elevate The Customer Experience
In this era of instant gratification, nothing beats services that make the buying process easier and more convenient for you and your customers. With online and mobile payments, transactions are completed in just a matter of seconds. You’ll also get to build a strong reputation for user-friendly and great customer experiences.
Digital payment channels also come with extra layers of security and protection that reduce the risks associated with data breaches and malicious hacking.
- Improve Efficiency and Cut Costs
You can also take advantage of payment platforms that make it a breeze for you to create and send invoices, receipts, and reminders to follow up with customers after their purchases. You know where the money is at all times because you and your customers have easy access to payment information. No need to go through an expensive paper-based payment system that slows down the process and causes delays.
How To Accept Payments Online
So how do you start accepting online payments for your business? Here are some of the top mobile and online payment options that enjoy a large usage rate.
- Digital Wallets
More and more businesses are betting on digital wallets to attract larger audiences and operate on a global scale. These are applications that store credit and debit card data and enable online payments in just a few clicks. Not only can these e-wallets store information digitally and enable faster and more secure payments, but they also allow for transfers, cashback, investments, and loans.
The most popular digital wallets in the market today include PayPal, Apple Pay, Android Pay, Google Pay, Samsung Pay, Alipay, and WeChat Pay.
- Credit and Debit Cards
With the rise of online shopping, credit and debit cards are more popular than ever. Letting your customers pay with mobile credit cards on your website is a simple way to accept payments online. Visa, MasterCard, American Express, and Discover are among the most widely accepted major credit cards. A downside to using credit and debit cards, however, is the processing fee.
- Online Invoicing and Billing
Encourage your customers to pay you right away with online invoices and billing statements. Many digital payment channels come with invoicing and billing platforms that enable one-click payments right from an email, website, or mobile app.
Here are also some of the robust features that you need to consider when choosing a digital payment option that best fits your needs:
- Go for a mobile-friendly design. If your payment method does not load quickly and offers a poor mobile experience, you run the risk of losing more customers.
- Make sure that you have the right equipment and technology to implement a comprehensive mobile payments strategy that will maximize your revenue.
- Look for automated invoicing and billing features. This will help you manage and streamline your processes while also retaining more customers.
- Look for marketing and customization options and scalability potential.
- Make sure that your digital payment options have tight security features and fraud prevention mechanisms.
Ready to take your business to new heights with more sales, better credibility, and a competitive edge? Go with an ultimate payment solution that is quick, simple, well-designed, and available on any device.
With GoSite’s payment processing platform, you can accept mobile payments anywhere with speed and confidence. Reap all the benefits of top-notch features like text-to-pay, scheduled invoicing, and automated follow-up emails so you can boost customer satisfaction and increase your bottom line. Try it for free and start accepting payments today!
GoSite can help your business grow in so many ways, all in one friendly dashboard. Ready to dive in? Start a free trial. Prefer a conversation? Book a demo.