3 Ways to Accept Online Payments
As more consumers make the shift from paying their bills via snail-mail to online bill payment, is your business prepared to make the move with them? For many consumers, having the option to pay their bills online has become the norm – in many cases, it’s almost expected! In fact, in a 2017 study by ACI Worldwide, nearly 56% of all bills were paid online, with payments via credit card doubling over the past 6 years.
For consumers, the ability to pay a bill online means less time and frustration spent trying to hunt down a stamp, remembering to mail in a check or worse, forgetting to mail in a check on time and getting charged a late fee. Not to mention, trying to get someone on the phone during business hours to take down payment information can be a nightmare. At the end of the day, an easy, frictionless payment process eliminates frustration for your customers, and as we all know, customer happiness is the key to continued success.
While online payments have become the norm, for many business owners, the idea of accepting payments online can be daunting – questions like “Do I need to hire a website developer?” or “How secure are my customer’s payments?” often come up. However, with the right technology partner, the benefits of enabling online payments far outweigh any concerns!
Collecting payments online means less time waiting by the phone for customers to call in payments, fewer hours wasted driving back and forth to the bank to deposit checks, and more time for your employees to focus on helping you grow your business! Plus, if you’re already working with a merchant services provider that offers robust technology solutions for online payments, accepting payments online can be as easy as copying and pasting!
1) Payment Link
One of the ways that business owners can streamline the payment collection process with their customers is through online payment links. Online payment links provide a simple way for your customers to securely send a payment with minimal effort on your end.
If you are already sending online payment requests to your customers via email or sending customers invoices through an accounting software like Quickbooks Online or Xero, you can easily include payment links generated through your virtual terminal. You’ll have the option to either choose a fixed amount for your customers to pay, or leave the amount field open ended – allowing you to use the same link wherever a payment is required! The link can be copied and pasted with just a few clicks and will direct your customers to a branded PCI-compliant webpage where they can securely enter in a payment method and amount.
As a business owner, payment links can mean getting paid faster by providing an easy way for your customers to pay directly upon receiving emails or invoices! Payment links are a simple yet secure way for you to easily collect payments using tools you may already have, without the need for a developer.
2) Online Payment Button
Often times, a website is a great way for businesses to collect payments and generate sales outside of normal working hours. However, collecting payments through your website does not necessarily mean you have to invest in a full-fledged eCommerce platform!
While eCommerce platforms can be great for businesses that have many items and variations available in their product catalog, in a lot of cases, a business will require a simpler solution to accept payments online. For example, if you’re just starting your business and have limited offerings available online, or if your business only requires one time deposits or payments, accepting online payments can be as easy as embedding a basic “Pay Now” button on your website without the involvement of a developer!
With the help of a virtual terminal, you can quickly generate a payment button to allow your customers to pay online! The HTML code for your payment button can be copied with just a click, and pasted directly onto your website. When your customers click the button from your website, they’ll be taken to a secure hosted payment page to enter in their payment information.
Providing a simple payment button on your website empowers your customers to complete a payment on their own time, while saving you and your employees valuable time and energy, allowing you to focus on what matters most – your business’ growth plan!
3) Dynamic Payment Links
Although the use of dynamic payment links may require the expertise of a web developer, they can offer a robust solution at a much lower cost compared to the implementation of a full eCommerce platform.
Dynamic payment links are primarily used to dynamically populate a payment amount based on a selection your customer makes from your website. For example, if you’re running a summer camp for kids that is charged per week, and your customer wants to enroll their child for multiple weeks, the correct amount populated from their selection can be passed directly onto a secure website page where they can provide a payment method and complete their transaction.
With dynamic payment links,your customers can make their own selections from your website without needing to call in to your offices. This seamless payment flow gives you and your team more time back in your day.
Online payments don’t have to be tricky if you have the right technology partner! Make sure any provider you work with has the flexibility you need to collect payments in a variety of ways and includes PCI DSS compliance built directly into their solution – these two variables can help ensure you’re maximizing your time and energy for your business, while providing a simple and secure payment solution for your customers! Want to learn more about Matrix Payment Systems? Contact us today to get started!