Year over year e-commerce sales have grown at an impressive rate. In 2015, e-commerce sales came in at a whopping $341.7 billion, an increase of 14.6% over 2014. Any business, no matter how big or small should evaluate having an online payment solution in place. People are online more, making it convenient to buy and pay online can increase your sales and improve cash flow.
You may think accepting payments online will be difficult, but today's technology is making it much simpler. Today there are many e-commerce tools to get started with that are not an expense and do not require complete e-commerce websites. Businesses can start simply by using a payment system that is online.
As more consumers rely on their mobile devices for their purchases, they're seeking a simple, no-hassle way to buy. The challenge is finding the right online payment solution for your needs.
PayPal is the world's largest online payment processing service. It has over 137 million active accounts and is available in 193 markets. It's one of the easiest online payment systems for any business to implement and many consumers have the PayPal app on their phone so they can easily send you money.
Add the ability for businesses to accept mobile payments with the PayPal card swiper and you can see how versatile payment option it is.
Square revolutionized the acceptance of mobile payments with a card reader that plugs into your smartphone or tablet. But it's also used to power online payments for many small businesses.
With a Square account, your business can integrate Square payment processing into your own e-commerce site or use the Square site to request and receive funds. Like PayPal, Square can accept many different types of online payments and credit cards so you'll never miss a sale again.
Stripe is an innovative and rapidly growing payment system being adopted by many businesses because of its security and ease of use. Stripe is a custom payment system that can be integrated into any of your website projects. Stripe has a developer-friendly API that it allows you to create your own payment forms without a merchant account. Stripe also has built-in PCI compliance to enable your business to lower costs by meeting the stricter PCI requirements.
ProPay offers many of the features that other online payment services and it integrates well with QuickBooks, allowing you to seamlessly import sales data to your accounting and inventory software. This will save lots of time and make your business more efficient.
This online payment service has been around since 1996 and processes over $88 billion in annual transactions for over 375,000 merchants. With this service, you can accept card payments through their system, integrate into your website to accept payments and it also accepts e-checks.
Authorize.net is a very versatile payment gateway for any business. One of it’s best features for very small businesses is the ability to create a very simple payment form that you can direct customers to in order for them to make payments.
Intuit allows you to accept payment anywhere, not just online. One of the most popular features is the ability to send customers an invoice via e-mail, They can pay it with a simple click of a button.
E-invoicing is quick and free, and the payments are automatically entered into QuickBooks. This is a great feature for service providers.
There is no really no excuse for a business today to not be able to accept online payments. Make it easy for your customers to do business with you by allowing them to pay online or through mobile apps. Your bottom line will thank you!
Have you used these or any other online payment systems? What was your experience? Let me know in the comments below.