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3 Payment Methods to Consider Implementing in Your Online Business

Payment Methods to Consider Implementing in Your Online Business

Getting paid is one of the basic, fundamental goals of any online business. There is value in giving your customer base various payment methods when it comes to how they pay you for your services. If your business only offers limited payment options, for example, a single choice, you may be losing customers without even realizing it. Many people settle into a routine of what they trust and what they know. If you don’t provide them with that option, likely they won’t go through with their purchase.

This post focuses on three payment methods to consider implementing in your online business. Read on to find out more.

ACH Payments

ACH payment solutions by Envestnet | Yodlee provide a trusted, viable, and solid payment option for your online business. If you opt into the ACH payment solution, you give your clients a completely secure payment option. But it’s not just about the clients. It is also a smart move for your business. There are fewer fees and a smaller cost with regards to transactions overall.  You are also ensuring that there is little to no room for fraudulent activity across all your financial interactions.

Once a transaction has been made, it then opens the door for easy and convenient future payments. An account remains valid once verified and can be used repeatedly for as many transactions as a relationship needs. It’s a great solution.

Virtual Terminals

Virtual terminals provide a payment option where a customer can use their debit or credit card, well, virtually.

The customer gives you their card details which are then inputted through the virtual terminal. This is all secure and encrypted. The transaction is then complete. Of course, there are fees and it is a slightly higher cost model than other payment options for online business. Nevertheless, it is still a popular choice.

PayPal, Google Pay, Apple Pay, and Others

PayPal is a trusted online payment portal for personal and business transactions. A client can complete a transaction through the linking of their account to their PayPal profile. All the transactions are straightforward and secure.

PayPal is well established as a popular choice for online monetary exchanges. It has been around for years and is available as standard across a wide range of online businesses. The fees you pay will vary from transaction to transaction, but they will always be laid out clearly in terms you can rely on.

Alongside PayPal, similar platforms include Google Pay, Apple Pay, and Samsung Pay. These are all virtual systems designed to create easy transactions. Debit and credit card information is stored for ease of purchase from both sides.

As seen, there are plenty of good payment methods available for online businesses. How and when you get paid remains a consistent consideration for online business owners. So, it’s good to be armed with facts and explore options to get the best for your bespoke needs.

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