Financial experts agree that offering multiple ways to accept payments creates a better shopping experience for your customers and helps build brand loyalty. Business payment services, particularly merchant service providers (MSPs), can help streamline your company’s payment process. Unlike third-party providers like PayPal and Amazon that require customers to leave your site and finish their online payment on the third-party’s site, MSPs integrate their online payment solutions seamlessly with your website. This means that you can easily accept online payments without customer’s ever leaving your environment. Most MSPs give businesses the option to include their logo on invoices, receipts, and offer more to leverage branding.
While it might seem like you are relegated to just credit card payments with MSPs, most business payment services will allow you to accept credit cards, debit cards, e-checks, and even gift cards using their online payment solutions. To authorize these payments, MSPs integrate their online payment software with your website. These allow you to easily, and often automatically, create and distribute invoices, authorize online payments, and quickly review customer accounts. These benefits will give you more of an appreciation for user-friendly dashboards that come with most business payment software.
Using business payment services to accept online payments offers customers the ease of paying their bills online without having to make time consuming trips to the post office or bank. In addition, customers can easily set-up automatic payments for recurring monthly bills or other expenses.
In addition to creating a more satisfying shopping experience for your customers, accepting online payments also helps lower your billing costs. online payment software Traditional billing methods involve creating and printing physical invoices, stuffing those invoices into envelopes, paying postage to have the invoices sent to customers, and processing payments once they are received. This method requires significant manpower, paper, and purchasing expensive (occasionally toxic) ink. Business payment services, on the other hand, can handle the vast majority of your billing needs with a computer. For example, if a customer calls with a question regarding his or her account, rather than fumbling through papers or checking various unconnected computer programs, you can easily glance at the account history in one place using integrated payment processing software.
Business payment services have more to offer than just online payment solutions. For example, if your business has a brick-and-mortar store, many MSPs offer a wide array of credit card/debit machines. Whether you are looking for a machine that simply accepts credit cards and debit cards or one that can accept even more payment methods like gift cards, there is a machine to fit your needs.
For on-the-go merchants, many business payment services offer wireless solutions. Similar to traditional credit/debit card machines, these wireless card readers allow you to accept online transactions virtually anywhere, such as festivals, off-site events, or even at a client’s location.
Business payment services, or MSPs, offer business owners a variety of solutions to accept online transactions. Whether you are looking for a way to accept payments on your website without sending customers to a third-party environment or if you need a reliable credit/debit card machine for your brick-and-mortar store, business payment services have a product or service to help you provide your customers with a better shopping experience and even reduce your billing spend.