eCommerce and online merchants are in possession of ways to simplify the way customers buy their products. While accepting only 1 form of payment can bring in a totally new customer base, it also works another way round. Refusing only 1 kind of payment can result to a substantial plunge in the client base of your business. Unlike large businesses that are able to get rid of some customers because they are stable anyway, small businesses are dependent on each and each of them. So, in the best interest of businesses, they ought to try to just accept all possible kinds of payment. Before discussing the different kinds of payments and the advantages they provide, take a peek at some advantages that online payment methods have to offer:
The major advantage provided by online payment techniques to eCommerce/online merchants is convenience. When consumers find what they want 소액결제현금화, they may purchase it by creating a few clicks. Businesses are also paid instantly for the products which were sold on their site. This is a win-win solution for both parties.
Subscriptions can be found in different forms, and offer convenience to both parties. Subscriptions are easy to create and maintain because of online payment. It can be more straightforward to cancel subscriptions. This aspect could possibly 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 other ways of accepting online payments, but typically the most popular method is via credit cards. Yet, some online buyers still choose other methods offered. Knowing various methods, as well as their pros and cons, is a step needed to produce a business.
When people talk about options to online processing of credit card payment, PayPal always occurs top of the list. It is one of the payment services which were used far and wide. PayPal is convenient for eCommerce/online marketers, and it is user friendly for consumers. Setup is simple, and transactions are handled directly through PayPal. It is safe to make use of since consumers don’t give information to merchants except for a mailing address when needed.
Costs: PayPal charges $0.30 + 2% of total transactions. This is automatically subtracted from the payment.
Google Checkout was produced by Google in a reaction to PayPal. Allowing users buy goods via their Google account. Its major benefit is, since lots of people use Google for several services, the fact that the exact same account can be used to purchase products.
Costs: Google Checkout, like PayPal, charges per transaction. So, each transaction costs $0.30 + 2.9%. This figure could be reduced with an increased sales volume per month.
Certainly, Internet mogul Amazon is required to offer its payment solution for eCommerce/online merchants. It is good alternative, though much less 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’s 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 anyone selling pricey products. However, the facility to make payments may entice some customers to buy something more expensive.
There are many solutions for accepting credit cars besides these options. Businesses selling products through their website are expected to just accept credit cards.